Newfield Exploration Company (NFX) Given Average Recommendation of “Buy” by Brokerages
Shares of Newfield Exploration Company (NYSE:NFX) have been given an average rating of “Buy” by the twenty-seven research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $41.10.
A number of research analysts have recently issued reports on NFX shares. Jefferies Group LLC set a $40.00 price objective on shares of Newfield Exploration and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Citigroup Inc. cut their price objective on shares of Newfield Exploration from $50.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Scotiabank reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Newfield Exploration in a research report on Friday, June 30th. Cowen and Company set a $35.00 price objective on shares of Newfield Exploration and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Finally, BidaskClub downgraded shares of Newfield Exploration from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 21st.
In other news, Director Roger B. Plank bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average cost of $25.98 per share, for a total transaction of $77,940.00. Following the purchase, the director now directly owns 30,787 shares in the company, valued at approximately $799,846.26. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Lee K. Boothby sold 12,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $26.18, for a total transaction of $314,160.00. Following the completion of the transaction, the insider now owns 279,322 shares of the company’s stock, valued at $7,312,649.96. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of NFX. UBS Asset Management Americas Inc. lifted its stake in shares of Newfield Exploration by 4.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 506,734 shares of the energy company’s stock valued at $18,704,000 after purchasing an additional 22,660 shares during the period. Karp Capital Management Corp acquired a new position in shares of Newfield Exploration in the 1st quarter valued at $1,458,000. Ameritas Investment Partners Inc. acquired a new position in shares of Newfield Exploration in the 1st quarter valued at $175,000. Mason Street Advisors LLC lifted its stake in shares of Newfield Exploration by 1.9% in the 1st quarter. Mason Street Advisors LLC now owns 27,484 shares of the energy company’s stock valued at $1,014,000 after purchasing an additional 502 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in shares of Newfield Exploration by 3.3% in the 1st quarter. Pacer Advisors Inc. now owns 3,740 shares of the energy company’s stock valued at $138,000 after purchasing an additional 121 shares during the period. Hedge funds and other institutional investors own 99.15% of the company’s stock.
Shares of Newfield Exploration (NYSE NFX) traded down 0.23% on Wednesday, hitting $30.30. 1,952,336 shares of the stock traded hands. Newfield Exploration has a 52-week low of $24.41 and a 52-week high of $50.00. The stock’s 50 day moving average price is $26.98 and its 200 day moving average price is $30.25. The stock has a market cap of $5.99 billion, a P/E ratio of 19.65 and a beta of 1.53.
Newfield Exploration (NYSE:NFX) last issued its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.43 earnings per share (EPS) 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 firm had revenue of $402.00 million during the quarter, compared to analysts’ expectations of $413.70 million. During the same period in the previous year, the firm earned $0.32 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts expect that Newfield Exploration will post $1.88 EPS 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.
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