Stifel Nicolaus Analysts Give Newfield Exploration Company (NFX) a $37.00 Price Target
Newfield Exploration Company (NYSE:NFX) has been assigned a $37.00 price objective by research analysts at Stifel Nicolaus in a report issued on Friday. The brokerage currently has a “buy” rating on the energy company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 46.19% from the company’s previous close.
NFX has been the subject of a number of other research reports. J P Morgan Chase & Co reissued an “overweight” rating and set a $36.00 price target (down previously from $40.00) on shares of Newfield Exploration in a research report on Wednesday, August 9th. Barclays PLC reissued an “equal weight” rating and set a $33.00 price target (down previously from $39.00) on shares of Newfield Exploration in a research report on Saturday, April 22nd. BidaskClub downgraded shares of Newfield Exploration from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 21st. Royal Bank Of Canada set a $54.00 price target on shares of Newfield Exploration and gave the stock a “buy” rating in a research report on Saturday, June 3rd. Finally, Credit Suisse Group reissued an “outperform” rating and set a $47.00 price target on shares of Newfield Exploration in a research report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and twenty have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $42.75.
Shares of Newfield Exploration (NFX) traded up 1.36% during mid-day trading on Friday, hitting $25.31. 2,837,719 shares of the stock traded hands. The stock has a market cap of $5.00 billion, a PE ratio of 16.41 and a beta of 1.48. The stock has a 50-day moving average of $26.99 and a 200 day moving average of $32.97. Newfield Exploration has a one year low of $24.91 and a one year high of $50.00.
Newfield Exploration (NYSE:NFX) last released its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by $0.01. Newfield Exploration had a return on equity of 33.17% and a net margin of 18.82%. The company had revenue of $402 million for the quarter, compared to analyst estimates of $413.70 million. During the same period in the previous year, the business posted $0.32 EPS. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities analysts predict that Newfield Exploration will post $1.92 EPS for the current fiscal year.
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In other news, Director Roger B. Plank bought 3,000 shares of the stock in a transaction dated Friday, August 11th. The shares were bought at an average price of $25.98 per share, for a total transaction of $77,940.00. Following the completion of the purchase, the director now owns 30,787 shares in the company, valued at $799,846.26. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.54% of the company’s stock.
A number of institutional investors have recently bought and sold shares of NFX. Pacer Advisors Inc. raised its position in Newfield Exploration by 8.5% in the second quarter. Pacer Advisors Inc. now owns 4,059 shares of the energy company’s stock worth $116,000 after buying an additional 319 shares during the period. Global X Management Co. LLC raised its position in Newfield Exploration by 30.5% in the first quarter. Global X Management Co. LLC now owns 3,311 shares of the energy company’s stock worth $122,000 after buying an additional 774 shares during the period. Dupont Capital Management Corp bought a new position in Newfield Exploration during the second quarter worth approximately $131,000. Ameritas Investment Partners Inc. bought a new position in Newfield Exploration during the first quarter worth approximately $175,000. Finally, Mn Services Vermogensbeheer B.V. raised its position in Newfield Exploration by 6.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,316 shares of the energy company’s stock worth $183,000 after buying an additional 310 shares during the period. Hedge funds and other institutional investors own 98.33% 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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