Newfield Exploration Company (NFX) Price Target Increased to $27.00 by Analysts at Barclays PLC
Newfield Exploration Company (NYSE:NFX) had its target price lifted by stock analysts at Barclays PLC from $25.00 to $27.00 in a research note issued on Thursday. The brokerage currently has an “equal weight” rating on the energy company’s stock. Barclays PLC’s price objective indicates a potential downside of 12.31% from the stock’s previous close.
NFX has been the subject of a number of other reports. J P Morgan Chase & Co reissued an “overweight” rating and set a $36.00 price objective (down from $40.00) on shares of Newfield Exploration in a research report on Wednesday, August 9th. Piper Jaffray Companies lowered their price objective on Newfield Exploration from $53.00 to $41.00 and set an “overweight” rating for the company in a research report on Monday, September 18th. BMO Capital Markets set a $34.00 price objective on Newfield Exploration and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Jefferies Group LLC set a $40.00 price objective on Newfield Exploration and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Finally, Stifel Nicolaus set a $37.00 target price on Newfield Exploration and gave the stock a “buy” rating in a research note on Friday, August 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the company. Newfield Exploration currently has a consensus rating of “Buy” and an average price target of $39.35.
Newfield Exploration (NYSE:NFX) last announced its quarterly earnings data on Tuesday, October 31st. The energy company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.09. Newfield Exploration had a return on equity of 37.07% and a net margin of 20.62%. The business had revenue of $439.00 million during the quarter, compared to the consensus estimate of $419.75 million. During the same period in the previous year, the company posted $0.45 earnings per share. The business’s revenue for the quarter was up 12.0% on a year-over-year basis.
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In related news, Director Roger B. Plank purchased 3,000 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was acquired 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 directly owns 30,787 shares of the company’s stock, valued at $799,846.26. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 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 value of $314,160.00. Following the sale, the insider now 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. 0.54% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in NFX. Pacer Advisors Inc. raised its stake 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 purchasing an additional 319 shares during the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Newfield Exploration during the second quarter worth approximately $131,000. Riverhead Capital Management LLC raised its stake 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 purchasing an additional 1,013 shares during the last quarter. Koch Industries Inc. purchased a new stake in shares of Newfield Exploration during the second quarter worth approximately $209,000. Finally, Thrivent Financial For Lutherans raised its stake in shares of Newfield Exploration by 3.2% during the second quarter. Thrivent Financial For Lutherans now owns 7,530 shares of the energy company’s stock worth $214,000 after purchasing an additional 230 shares during the last quarter. Institutional investors and hedge funds own 99.15% 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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