Cowen Analysts Give Newfield Exploration (NFX) a $40.00 Price Target
Newfield Exploration (NYSE:NFX) has been given a $40.00 price target by stock analysts at Cowen in a research report issued on Thursday. The brokerage presently has a “buy” rating on the energy company’s stock. Cowen’s price objective indicates a potential upside of 20.05% from the stock’s previous close.
A number of other research firms have also weighed in on NFX. Piper Jaffray Companies reaffirmed a “buy” rating and set a $48.00 price target on shares of Newfield Exploration in a report on Tuesday, January 9th. BMO Capital Markets reaffirmed a “hold” rating and set a $36.00 price target on shares of Newfield Exploration in a report on Sunday, January 14th. Zacks Investment Research raised shares of Newfield Exploration from a “hold” rating to a “strong-buy” rating and set a $40.00 price target for the company in a report on Monday. Bank of America raised shares of Newfield Exploration from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Thursday, January 4th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $39.00 price objective on shares of Newfield Exploration in a report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $39.27.
Newfield Exploration (NYSE:NFX) traded down $0.42 on Thursday, reaching $33.32. 3,670,000 shares of the company were exchanged, compared to its average volume of 2,290,000. The firm has a market cap of $6,650.00, a price-to-earnings ratio of 19.26, a price-to-earnings-growth ratio of 0.73 and a beta of 1.45. Newfield Exploration has a 1-year low of $24.41 and a 1-year high of $43.74. 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 released its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.09. The business had revenue of $439.00 million during the quarter, compared to analyst estimates of $419.75 million. Newfield Exploration had a net margin of 20.62% and a return on equity of 35.28%. The business’s revenue was up 12.0% on a year-over-year basis. During the same period last year, the business earned $0.45 EPS. analysts forecast that Newfield Exploration will post 2.14 earnings per share for the current year.
In other news, Director Juanita F. Romans sold 3,500 shares of Newfield Exploration stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $30.02, for a total value of $105,070.00. Following the completion of the transaction, the director now directly owns 39,034 shares of the company’s stock, valued at approximately $1,171,800.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Lee K. Boothby sold 12,000 shares of Newfield Exploration stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $31.84, for a total transaction of $382,080.00. Following the completion of the transaction, the chief executive officer now directly owns 223,235 shares of the company’s stock, valued at $7,107,802.40. The disclosure for this sale can be found here. Insiders sold a total of 39,500 shares of company stock valued at $1,243,150 over the last ninety days. Company insiders own 0.54% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of NFX. Tiedemann Wealth Management LLC boosted its holdings in shares of Newfield Exploration by 36.0% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 28,966 shares of the energy company’s stock valued at $148,000 after buying an additional 7,664 shares during the period. Riverhead Capital Management LLC boosted its holdings in shares of Newfield Exploration by 17.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,922 shares of the energy company’s stock valued at $197,000 after buying an additional 1,013 shares during the period. Koch Industries Inc. acquired a new position in shares of Newfield Exploration in the 2nd quarter valued at about $209,000. Vident Investment Advisory LLC acquired a new position in shares of Newfield Exploration in the 3rd quarter valued at about $212,000. Finally, Thrivent Financial For Lutherans boosted its holdings in shares of Newfield Exploration by 3.2% in the 2nd quarter. Thrivent Financial For Lutherans now owns 7,530 shares of the energy company’s stock valued at $214,000 after buying an additional 230 shares during the period. 99.67% of the stock is owned by institutional investors and hedge funds.
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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.