Newfield Exploration Co. (NFX) Given Buy Rating at Stifel Nicolaus
Newfield Exploration Co. (NYSE:NFX)‘s stock had its “buy” rating reaffirmed by equities research analysts at Stifel Nicolaus in a research note issued to investors on Friday. They presently have a $48.00 target price on the energy company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 45.10% from the company’s previous close.
NFX has been the subject of several other research reports. Canaccord Genuity set a $50.00 price target on Newfield Exploration and gave the stock a “buy” rating in a research note on Saturday, February 11th. BMO Capital Markets decreased their price target on Newfield Exploration from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, February 27th. Barclays PLC reissued an “equal weight” rating and issued a $33.00 price target (down previously from $39.00) on shares of Newfield Exploration in a research note on Saturday, April 22nd. Deutsche Bank AG increased their price target on Newfield Exploration from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, March 7th. Finally, Zacks Investment Research cut Newfield Exploration from a “buy” rating to a “hold” rating in a research note on Thursday, January 26th. Six analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $49.53.
Shares of Newfield Exploration (NYSE:NFX) traded up 1.35% during midday trading on Friday, hitting $33.08. The company had a trading volume of 1,795,617 shares. The stock’s 50-day moving average price is $34.88 and its 200-day moving average price is $38.85. The company’s market cap is $6.52 billion. Newfield Exploration has a 12 month low of $32.39 and a 12 month high of $50.00.
Newfield Exploration (NYSE:NFX) last released its quarterly earnings results on Tuesday, May 2nd. The energy company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.12. Newfield Exploration had a positive return on equity of 12.41% and a negative net margin of 134.32%. The company had revenue of $417 million during the quarter, compared to analysts’ expectations of $425.44 million. On average, equities research analysts forecast that Newfield Exploration will post $2.37 EPS for the current year.
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In other news, insider Lee K. Boothby sold 9,000 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $36.88, for a total transaction of $331,920.00. Following the completion of the sale, the insider now directly owns 263,817 shares of the company’s stock, valued at $9,729,570.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James Kent Wells bought 3,000 shares of Newfield Exploration stock in a transaction dated Monday, February 27th. The shares were bought at an average cost of $36.94 per share, with a total value of $110,820.00. Following the completion of the acquisition, the director now owns 11,563 shares of the company’s stock, valued at $427,137.22. The disclosure for this purchase can be found here. Corporate insiders own 0.44% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in Newfield Exploration by 31.1% in the first quarter. Wellington Management Group LLP now owns 27,063,455 shares of the energy company’s stock valued at $998,913,000 after buying an additional 6,422,891 shares during the last quarter. Vanguard Group Inc. raised its position in Newfield Exploration by 5.2% in the first quarter. Vanguard Group Inc. now owns 22,916,735 shares of the energy company’s stock valued at $845,856,000 after buying an additional 1,131,263 shares during the last quarter. BlackRock Inc. raised its position in Newfield Exploration by 2,798.4% in the first quarter. BlackRock Inc. now owns 13,788,511 shares of the energy company’s stock valued at $508,934,000 after buying an additional 13,312,785 shares during the last quarter. State Street Corp raised its position in Newfield Exploration by 10.3% in the first quarter. State Street Corp now owns 11,470,973 shares of the energy company’s stock valued at $423,392,000 after buying an additional 1,066,743 shares during the last quarter. Finally, Boston Partners raised its position in Newfield Exploration by 69.1% in the third quarter. Boston Partners now owns 9,634,790 shares of the energy company’s stock valued at $418,728,000 after buying an additional 3,935,749 shares during the last quarter. 96.67% of the stock is currently owned by hedge funds and other institutional investors.
Newfield Exploration Company Profile
Newfield Exploration Company is an independent exploration and production company. It is engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. Its operating segments are the United States and China. Its the United States operations are onshore and focus primarily on large scale, liquids resource plays.
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