Shares of Newfield Exploration Company (NYSE:NFX) have received an average rating of “Buy” from the twenty-eight brokerages that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $42.28.

A number of research analysts recently issued reports on the company. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $36.00 target price (down from $40.00) on shares of Newfield Exploration in a report on Wednesday, August 9th. BidaskClub lowered Newfield Exploration from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. Jefferies Group LLC set a $40.00 target price on Newfield Exploration and gave the company a “buy” rating in a report on Tuesday, August 29th. Barclays PLC decreased their target price on Newfield Exploration from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, August 3rd. Finally, Stifel Nicolaus set a $37.00 target price on Newfield Exploration and gave the company a “buy” rating in a report on Friday, August 18th.

In related news, insider Lee K. Boothby sold 12,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $26.18, for a total transaction of $314,160.00. Following the transaction, the insider now owns 279,322 shares of the company’s stock, valued at $7,312,649.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Roger B. Plank purchased 3,000 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average cost of $25.98 per share, for a total transaction of $77,940.00. Following the acquisition, the director now owns 30,787 shares of the company’s stock, valued at $799,846.26. The disclosure for this purchase can be found here. 0.54% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NFX. Pacer Advisors Inc. grew its holdings in shares of Newfield Exploration by 8.5% during 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 last quarter. Global X Management Co. LLC grew its holdings in shares of Newfield Exploration by 30.5% during 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 last quarter. Dupont Capital Management Corp purchased a new position in shares of Newfield Exploration during the second quarter worth about $131,000. Ameritas Investment Partners Inc. purchased a new position in shares of Newfield Exploration during the first quarter worth about $175,000. Finally, Riverhead Capital Management LLC grew its holdings in shares of Newfield Exploration by 17.1% during the second quarter. Riverhead Capital Management LLC now owns 6,922 shares of the energy company’s stock worth $197,000 after buying an additional 1,013 shares during the last quarter. 99.15% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Newfield Exploration (NYSE NFX) traded down 5.42% during midday trading on Friday, reaching $24.80. The company’s stock had a trading volume of 3,485,100 shares. The stock’s 50-day moving average is $26.25 and its 200-day moving average is $31.29. The company has a market capitalization of $4.90 billion, a P/E ratio of 16.08 and a beta of 1.49. Newfield Exploration has a one year low of $24.41 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 EPS for the quarter, missing the consensus estimate of $0.44 by $0.01. Newfield Exploration had a return on equity of 33.17% and a net margin of 18.82%. The firm had revenue of $402 million for the quarter, compared to analysts’ expectations of $413.70 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts expect that Newfield Exploration will post $1.87 earnings per share for the current fiscal year.

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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.

Analyst Recommendations for Newfield Exploration (NYSE:NFX)

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