Newfield Exploration Company (NFX) Price Target Increased to $25.00 by Analysts at Barclays PLC
Newfield Exploration Company (NYSE:NFX) had its target price boosted by research analysts at Barclays PLC from $22.00 to $25.00 in a research note issued on Wednesday, Marketbeat Ratings reports. The firm currently has an “equal weight” rating on the energy company’s stock. Barclays PLC’s price target would suggest a potential downside of 17.30% from the company’s current price.
A number of other research analysts have also issued reports on NFX. BidaskClub raised Newfield Exploration from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Stifel Nicolaus set a $37.00 target price on Newfield Exploration and gave the company a “buy” rating in a report on Thursday, October 5th. J P Morgan Chase & Co reissued an “overweight” rating and issued a $36.00 target price (down previously from $40.00) on shares of Newfield Exploration in a report on Wednesday, August 9th. Zacks Investment Research raised Newfield Exploration from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Finally, BMO Capital Markets set a $34.00 target price on Newfield Exploration and gave the company a “buy” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Newfield Exploration currently has a consensus rating of “Buy” and a consensus price target of $41.28.
Newfield Exploration (NFX) traded up 0.23% during trading on Wednesday, hitting $30.23. The stock had a trading volume of 3,217,179 shares. The firm’s 50-day moving average price is $27.58 and its 200-day moving average price is $30.13. The stock has a market cap of $5.97 billion, a PE ratio of 19.60 and a beta of 1.53. Newfield Exploration has a 1-year low of $24.41 and a 1-year high of $50.00.
Newfield Exploration (NYSE:NFX) last released its earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.01). The company had revenue of $402.00 million during the quarter, compared to analyst estimates of $413.70 million. Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 EPS. On average, equities research analysts predict that Newfield Exploration will post $1.89 earnings per share for the current fiscal year.
In other news, insider Lee K. Boothby sold 12,000 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $29.10, for a total value of $349,200.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Roger B. Plank acquired 3,000 shares of Newfield Exploration stock in a transaction dated Friday, August 11th. The stock was bought at an average price of $25.98 per share, for a total transaction of $77,940.00. Following the completion of the transaction, the director now directly 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 owned by corporate insiders.
Several large investors have recently modified their holdings of NFX. UBS Asset Management Americas Inc. lifted its position in shares of Newfield Exploration by 4.7% in the first quarter. UBS Asset Management Americas Inc. now owns 506,734 shares of the energy company’s stock valued at $18,704,000 after acquiring an additional 22,660 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Newfield Exploration in the first quarter valued at $175,000. Pacer Advisors Inc. lifted its position in shares of Newfield Exploration by 3.3% in the first quarter. Pacer Advisors Inc. now owns 3,740 shares of the energy company’s stock valued at $138,000 after acquiring an additional 121 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Newfield Exploration by 33.0% in the first quarter. Stifel Financial Corp now owns 35,545 shares of the energy company’s stock valued at $1,316,000 after acquiring an additional 8,810 shares in the last quarter. Finally, Stephens Inc. AR lifted its position in shares of Newfield Exploration by 16.9% in the first quarter. Stephens Inc. AR now owns 6,901 shares of the energy company’s stock valued at $255,000 after acquiring an additional 997 shares in the last quarter. Institutional investors and hedge funds own 99.15% of the company’s stock.
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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