Newfield Exploration Co. (NYSE:NFX) was upgraded by equities research analysts at KLR Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, May 15th, StockTargetPrices.com reports.

A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Newfield Exploration from a “buy” rating to a “hold” rating in a research note on Thursday, January 26th. Barclays PLC reduced their price target on shares of Newfield Exploration from $40.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 26th. Jefferies Group LLC upgraded shares of Newfield Exploration from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Tuesday, January 17th. Canaccord Genuity set a $50.00 price target on shares of Newfield Exploration and gave the company a “buy” rating in a research report on Saturday, February 11th. Finally, Societe Generale upgraded shares of Newfield Exploration from a “hold” rating to a “buy” rating in a research report on Tuesday, January 31st. Six equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $49.53.

Analyst Recommendations for Newfield Exploration (NYSE:NFX)

Newfield Exploration (NYSE:NFX) last announced its quarterly earnings results on Tuesday, May 2nd. The energy company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. Newfield Exploration had a negative net margin of 134.32% and a positive return on equity of 12.41%. The firm had revenue of $417 million for the quarter, compared to the consensus estimate of $425.44 million.

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In related news, insider Lee K. Boothby sold 9,000 shares of Newfield Exploration stock in a transaction on Monday, May 1st. The shares were sold at an average price of $34.57, for a total value of $311,130.00. Following the sale, the insider now owns 335,047 shares in the company, valued at $11,582,574.79. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.44% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in NFX. BlackRock Inc. boosted its stake 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 period. Wellington Management Group LLP boosted its stake 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 period. Norges Bank bought a new stake in Newfield Exploration during the fourth quarter valued at $79,754,000. Prudential Financial Inc. boosted its stake in Newfield Exploration by 45.5% in the first quarter. Prudential Financial Inc. now owns 3,825,967 shares of the energy company’s stock valued at $141,216,000 after buying an additional 1,197,112 shares during the period. Finally, Vanguard Group Inc. boosted its stake 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 period. Institutional investors and hedge funds own 96.67% of the company’s stock.

About Newfield Exploration

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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