Equities researchers at Credit Suisse Group started coverage on shares of Newfield Exploration (NYSE:NFX) in a research note issued on Monday, December 11th, MarketBeat Ratings reports. The firm set a “neutral” rating and a $30.00 price target on the energy company’s stock. Credit Suisse Group’s price target points to a potential downside of 4.64% from the stock’s previous close.
A number of other brokerages have also recently weighed in on NFX. Royal Bank of Canada restated a “buy” rating and set a $39.00 target price on shares of Newfield Exploration in a report on Tuesday, November 7th. TheStreet upgraded shares of Newfield Exploration from a “d+” rating to a “c-” rating in a report on Monday, November 6th. Zacks Investment Research cut shares of Newfield Exploration from a “buy” rating to a “hold” rating in a report on Friday, November 10th. KeyCorp restated a “hold” rating on shares of Newfield Exploration in a report on Monday, November 13th. Finally, Wolfe Research cut shares of Newfield Exploration from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 5th. One equities research 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 currently has a consensus rating of “Buy” and a consensus price target of $37.90.
Newfield Exploration (NYSE NFX) traded up $0.45 during trading hours on Monday, reaching $31.46. 1,308,452 shares of the company’s stock were exchanged, compared to its average volume of 2,190,000. The stock has a market cap of $6,280.00, a PE ratio of 18.18, a P/E/G ratio of 1.25 and a beta of 1.44. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 1.87. Newfield Exploration has a one year low of $24.41 and a one year high of $43.74.
In other Newfield Exploration news, Director Juanita F. Romans sold 3,500 shares of the stock in a transaction that occurred on 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 sale, the director now owns 39,034 shares in the company, valued at approximately $1,171,800.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lee K. Boothby sold 12,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $29.10, for a total transaction of $349,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,500 shares of company stock valued at $1,210,270. 0.54% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Newfield Exploration by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 23,677,528 shares of the energy company’s stock valued at $673,862,000 after buying an additional 760,793 shares in the last quarter. BlackRock Inc. raised its stake in Newfield Exploration by 0.4% during the 2nd quarter. BlackRock Inc. now owns 13,843,741 shares of the energy company’s stock valued at $393,993,000 after purchasing an additional 55,230 shares during the period. State Street Corp grew its holdings in Newfield Exploration by 5.6% during the 2nd quarter. State Street Corp now owns 12,109,780 shares of the energy company’s stock valued at $344,646,000 after buying an additional 638,807 shares in the last quarter. FMR LLC grew its holdings in Newfield Exploration by 9.9% during the 2nd quarter. FMR LLC now owns 10,459,662 shares of the energy company’s stock valued at $297,683,000 after buying an additional 938,740 shares in the last quarter. Finally, Boston Partners grew its holdings in Newfield Exploration by 0.9% during the 3rd quarter. Boston Partners now owns 5,627,037 shares of the energy company’s stock valued at $166,954,000 after buying an additional 51,835 shares in the last quarter. Institutional investors own 99.71% of the company’s stock.
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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.
