Newfield Exploration Company (NYSE:NFX) has been assigned a $40.00 target price by research analysts at Jefferies Group LLC in a note issued to investors on Tuesday. The firm currently has a “buy” rating on the energy company’s stock. Jefferies Group LLC’s price target suggests a potential upside of 56.80% from the company’s previous close. Jefferies Group also issued estimates for Newfield Exploration’s Q3 2017 earnings at $0.29 EPS, Q4 2017 earnings at $0.35 EPS, FY2017 earnings at $1.63 EPS, Q1 2018 earnings at $0.34 EPS and Q3 2018 earnings at $0.45 EPS.

Several other analysts have also issued reports on NFX. BidaskClub raised Newfield Exploration from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. J P Morgan Chase & Co reissued an “overweight” rating and set a $36.00 price target (down previously from $40.00) on shares of Newfield Exploration in a report on Wednesday, August 9th. Royal Bank Of Canada set a $54.00 price target on Newfield Exploration and gave the company a “buy” rating in a report on Saturday, June 3rd. Barclays PLC reissued an “equal weight” rating and set a $22.00 price target (down previously from $23.00) on shares of Newfield Exploration in a report on Wednesday, August 9th. Finally, Zacks Investment Research raised Newfield Exploration from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twenty have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $42.50.

Shares of Newfield Exploration (NYSE:NFX) opened at 25.51 on Tuesday. Newfield Exploration has a 12-month low of $24.41 and a 12-month high of $50.00. The firm has a market cap of $5.04 billion, a P/E ratio of 16.54 and a beta of 1.48. The stock’s 50 day moving average price is $26.51 and its 200-day moving average price is $32.31.

Newfield Exploration (NYSE:NFX) last released its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.01. Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. The company had revenue of $402 million for the quarter, compared to the consensus estimate of $413.70 million. During the same period in the prior year, the firm posted $0.32 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts predict that Newfield Exploration will post $1.87 earnings per share for the current fiscal year.

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In related news, Director Roger B. Plank acquired 3,000 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were acquired at an average cost of $25.98 per share, for a total transaction of $77,940.00. Following the completion of the transaction, the director now directly owns 30,787 shares in the company, valued at approximately $799,846.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Sentry Investment Management LLC increased its stake in shares of Newfield Exploration by 14.4% in the second quarter. Sentry Investment Management LLC now owns 15,542 shares of the energy company’s stock worth $442,000 after buying an additional 1,953 shares during the period. Ashburton Jersey Ltd increased its stake in shares of Newfield Exploration by 59.4% in the second quarter. Ashburton Jersey Ltd now owns 30,600 shares of the energy company’s stock worth $871,000 after buying an additional 11,400 shares during the period. Toronto Dominion Bank increased its stake in shares of Newfield Exploration by 25.7% in the second quarter. Toronto Dominion Bank now owns 67,476 shares of the energy company’s stock worth $1,920,000 after buying an additional 13,805 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Newfield Exploration during the second quarter worth about $781,000. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Newfield Exploration by 6.0% in the second quarter. Public Employees Retirement System of Ohio now owns 114,242 shares of the energy company’s stock worth $3,251,000 after buying an additional 6,512 shares during the period. Institutional investors and hedge funds own 99.15% of the company’s stock.

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.

Analyst Recommendations for Newfield Exploration (NYSE:NFX)

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