Newfield Exploration Company (NYSE:NFX)‘s stock had its “buy” rating restated by analysts at Scotiabank in a report issued on Wednesday. They currently have a $38.00 price objective on the energy company’s stock. Scotiabank’s price objective would indicate a potential upside of 23.42% from the company’s current price.

Other analysts also recently issued research reports about the stock. Citigroup Inc. reduced their price target on shares of Newfield Exploration from $50.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $42.00 price target on shares of Newfield Exploration in a report on Thursday, July 20th. Cowen and Company set a $35.00 price target on shares of Newfield Exploration and gave the company a “buy” rating in a report on Tuesday, July 18th. Williams Capital set a $45.00 price target on shares of Newfield Exploration and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $46.00 price target on shares of Newfield Exploration in a report on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the company. Newfield Exploration presently has an average rating of “Buy” and an average price target of $39.26.

Newfield Exploration (NYSE:NFX) last announced its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.09. Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. The company had revenue of $439.00 million for the quarter, compared to the consensus estimate of $419.75 million. During the same quarter in the prior year, the firm earned $0.45 earnings per share. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year.

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In related news, Director Roger B. Plank purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average price of $25.98 per share, with a total value of $77,940.00. Following the completion of the transaction, the director now owns 30,787 shares of the company’s stock, valued at approximately $799,846.26. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lee K. Boothby sold 12,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 279,322 shares of the company’s stock, valued at approximately $7,312,649.96. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in NFX. PineBridge Investments L.P. increased its position in shares of Newfield Exploration by 312.2% in the second quarter. PineBridge Investments L.P. now owns 2,333 shares of the energy company’s stock worth $103,000 after acquiring an additional 1,767 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Newfield Exploration by 3.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,166 shares of the energy company’s stock worth $105,000 after acquiring an additional 108 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of 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 acquiring an additional 319 shares in the last quarter. Mizuho Asset Management Co. Ltd. acquired a new stake in shares of Newfield Exploration in the second quarter worth $119,000. Finally, Advisors Asset Management Inc. increased its position in shares of Newfield Exploration by 203.6% in the third quarter. Advisors Asset Management Inc. now owns 2,732 shares of the energy company’s stock worth $119,000 after acquiring an additional 1,832 shares in the last quarter. 99.15% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Newfield Exploration (NYSE:NFX)

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