Newfield Exploration (NFX) Price Target Raised to $37.00 at Morgan Stanley

Newfield Exploration (NYSE:NFX) had its price target upped by equities researchers at Morgan Stanley from $33.00 to $37.00 in a report released on Wednesday. The firm currently has an “equal weight” rating on the energy company’s stock. Morgan Stanley’s price objective indicates a potential upside of 8.95% from the company’s previous close.

A number of other research analysts also recently weighed in on NFX. KLR Group downgraded Newfield Exploration from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a report on Tuesday, January 23rd. Cowen set a $40.00 target price on Newfield Exploration and gave the stock a “buy” rating in a report on Thursday, January 18th. BMO Capital Markets reiterated a “hold” rating and set a $36.00 target price on shares of Newfield Exploration in a report on Sunday, January 14th. Williams Capital set a $46.00 target price on Newfield Exploration and gave the stock a “buy” rating in a report on Wednesday, November 1st. Finally, Zacks Investment Research upgraded Newfield Exploration from a “hold” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a report on Monday, January 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Newfield Exploration presently has an average rating of “Buy” and a consensus target price of $39.18.

Newfield Exploration (NYSE:NFX) traded up $0.15 during mid-day trading on Wednesday, hitting $33.96. The company’s stock had a trading volume of 1,991,334 shares, compared to its average volume of 2,258,876. 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 current ratio of 1.17 and a quick ratio of 1.15. The stock has a market cap of $6,749.11, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 0.71 and a beta of 1.45.

Newfield Exploration (NYSE:NFX) last posted its earnings results on Tuesday, October 31st. The energy company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. Newfield Exploration had a return on equity of 35.28% and a net margin of 20.62%. The firm 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 business earned $0.45 EPS. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. research analysts forecast that Newfield Exploration will post 2.15 earnings per share for the current year.

In other news, Director Juanita F. Romans sold 3,500 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,171,800.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Lee K. Boothby sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $31.84, for a total value of $382,080.00. Following the completion of the sale, the chief executive officer now directly owns 223,235 shares in the company, valued at $7,107,802.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,500 shares of company stock worth $1,243,150. Insiders own 0.54% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Riverhead Capital Management LLC lifted its position in 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 acquiring an additional 1,013 shares in the last quarter. Vident Investment Advisory LLC bought a new position in Newfield Exploration in the 3rd quarter valued at approximately $212,000. Thrivent Financial For Lutherans lifted its position in 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 acquiring an additional 230 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new position in Newfield Exploration in the 4th quarter valued at approximately $257,000. Finally, Neuberger Berman Group LLC lifted its position in Newfield Exploration by 43.0% in the 2nd quarter. Neuberger Berman Group LLC now owns 8,243 shares of the energy company’s stock valued at $235,000 after acquiring an additional 2,480 shares in the last quarter. 99.68% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Newfield Exploration (NYSE:NFX)

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