Newfield Exploration (NYSE:NFX) has been given a $40.00 target price by equities research analysts at Jefferies Group in a note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the energy company’s stock. Jefferies Group’s price target indicates a potential upside of 31.45% from the stock’s previous close.
A number of other research firms have also weighed in on NFX. Piper Jaffray Companies lowered their price target on shares of Newfield Exploration from $53.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, September 18th. Credit Suisse Group started coverage on shares of Newfield Exploration in a report on Monday, December 11th. They set a “neutral” rating and a $30.00 price target for the company. BMO Capital Markets set a $34.00 price target on shares of Newfield Exploration and gave the company a “buy” rating in a report on Tuesday, October 10th. Zacks Investment Research lowered shares of Newfield Exploration from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Finally, Wolfe Research lowered shares of Newfield Exploration from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $37.90.
Newfield Exploration (NFX) opened at $30.43 on Wednesday. Newfield Exploration has a one year low of $24.41 and a one year high of $44.21. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 1.87. The company has a market cap of $6,070.00, a price-to-earnings ratio of 14.85, a PEG ratio of 1.22 and a beta of 1.44.
In other news, insider Lee K. Boothby sold 12,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $31.30, for a total value of $375,600.00. Following the transaction, the insider now directly owns 243,322 shares in the company, valued at approximately $7,615,978.60. The transaction was disclosed in a legal filing with the SEC, which is available at 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 transaction of $105,070.00. Following the completion of the transaction, the director now owns 39,034 shares in the company, valued at $1,171,800.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,500 shares of company stock worth $1,210,270. Insiders own 0.54% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC lifted its position in shares of Newfield Exploration by 36.5% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 588,777 shares of the energy company’s stock worth $17,469,000 after buying an additional 157,483 shares during the last quarter. Neuberger Berman Group LLC lifted its position in shares of Newfield Exploration by 52.7% in the 3rd quarter. Neuberger Berman Group LLC now owns 12,588 shares of the energy company’s stock worth $373,000 after buying an additional 4,345 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of Newfield Exploration in the 3rd quarter worth about $1,206,000. California Public Employees Retirement System lifted its position in shares of Newfield Exploration by 9.1% in the 3rd quarter. California Public Employees Retirement System now owns 425,649 shares of the energy company’s stock worth $12,629,000 after buying an additional 35,549 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Newfield Exploration in the 3rd quarter worth about $17,802,000. Institutional investors own 99.71% 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.
