Newfield Exploration (NYSE:NFX) was downgraded by equities research analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a research note issued on Friday, MarketBeat reports. They currently have a $37.00 price objective on the energy company’s stock. J P Morgan Chase & Co’s target price indicates a potential upside of 33.05% from the company’s previous close.
NFX has been the topic of several other research reports. Piper Jaffray Companies decreased their price target on Newfield Exploration from $53.00 to $41.00 and set an “overweight” rating on the stock in a report on Monday, September 18th. Credit Suisse Group assumed coverage on Newfield Exploration in a report on Monday. They issued a “neutral” rating and a $30.00 price target on the stock. BMO Capital Markets set a $34.00 price target on Newfield Exploration and gave the company a “buy” rating in a report on Tuesday, October 10th. Zacks Investment Research cut Newfield Exploration from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Finally, Jefferies Group set a $40.00 price target on Newfield Exploration and gave the company a “buy” rating in a report on Tuesday, August 29th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $37.86.
Newfield Exploration (NYSE NFX) traded down $0.82 during trading on Friday, reaching $27.81. The company had a trading volume of 3,606,400 shares, compared to its average volume of 2,910,381. The company has a market capitalization of $5,720.00, a PE ratio of 14.46, a price-to-earnings-growth ratio of 1.19 and a beta of 1.44. Newfield Exploration has a fifty-two week low of $24.41 and a fifty-two week high of $45.53. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.15 and a current ratio of 1.17.
Newfield Exploration (NYSE:NFX) last posted 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. The business had revenue of $439.00 million for the quarter, compared to analysts’ expectations of $419.75 million. Newfield Exploration had a return on equity of 35.28% and a net margin of 20.62%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.45 earnings per share. research analysts predict that Newfield Exploration will post 2.11 earnings per share for the current fiscal year.
In other news, insider Lee K. Boothby sold 12,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $29.10, for a total transaction of $349,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Juanita F. Romans sold 3,500 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $30.02, for a total value of $105,070.00. Following the sale, the director now directly owns 39,034 shares in the company, valued at approximately $1,171,800.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,500 shares of company stock worth $1,210,270. Company insiders own 0.54% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position 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 period. Dupont Capital Management Corp acquired a new stake in shares of Newfield Exploration during the second quarter worth about $131,000. Tiedemann Wealth Management LLC raised its position in shares of Newfield Exploration by 36.0% during the third quarter. Tiedemann Wealth Management LLC now owns 28,966 shares of the energy company’s stock worth $148,000 after purchasing an additional 7,664 shares during the period. Riverhead Capital Management LLC raised its position 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 period. Finally, Koch Industries Inc. acquired a new stake in shares of Newfield Exploration during the second quarter worth about $209,000. 99.83% of the stock is currently owned by institutional investors.
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.