Newfield Exploration Company (NFX) Rating Lowered to Strong Sell at BidaskClub
Newfield Exploration Company (NYSE:NFX) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Wednesday.
A number of other analysts also recently commented on the stock. Deutsche Bank AG boosted their target price on shares of Newfield Exploration Company from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, March 7th. Williams Capital reiterated a “buy” rating and issued a $56.00 target price on shares of Newfield Exploration Company in a report on Wednesday, May 3rd. Scotiabank set a $46.00 target price on shares of Newfield Exploration Company and gave the stock a “buy” rating in a report on Monday, March 27th. KLR Group upgraded shares of Newfield Exploration Company from a “hold” rating to a “buy” rating and boosted their target price for the stock from $41.00 to $42.00 in a report on Monday, May 8th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $48.00 target price on shares of Newfield Exploration Company in a report on Wednesday, April 12th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twenty-five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $47.68.
Newfield Exploration Company (NYSE NFX) opened at 27.56 on Wednesday. The firm’s 50-day moving average is $32.48 and its 200 day moving average is $37.59. Newfield Exploration Company has a 12 month low of $27.38 and a 12 month high of $50.00. The firm’s market capitalization is $5.43 billion.
Newfield Exploration Company (NYSE:NFX) last released its earnings results on Tuesday, May 2nd. The energy company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. Newfield Exploration Company had a negative net margin of 28.60% and a positive return on equity of 33.87%. The business had revenue of $417 million for the quarter, compared to the consensus estimate of $425.44 million. Equities analysts predict that Newfield Exploration Company will post $2.31 earnings per share for the current year.
In other Newfield Exploration Company news, insider Lee K. Boothby sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $34.57, for a total value of $311,130.00. Following the completion of the sale, the insider now directly owns 335,047 shares of the company’s stock, valued at $11,582,574.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.
A number of hedge funds have recently bought and sold shares of NFX. Global X Management Co. LLC increased its stake in Newfield Exploration Company by 30.5% in the first quarter. Global X Management Co. LLC now owns 3,311 shares of the energy company’s stock valued at $122,000 after buying an additional 774 shares in the last quarter. Pacer Advisors Inc. increased its stake in Newfield Exploration Company by 3.3% in the first quarter. Pacer Advisors Inc. now owns 3,740 shares of the energy company’s stock valued at $138,000 after buying an additional 121 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Newfield Exploration Company during the first quarter valued at approximately $175,000. Mn Services Vermogensbeheer B.V. increased its stake in Newfield Exploration Company by 6.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,316 shares of the energy company’s stock valued at $183,000 after buying an additional 310 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in Newfield Exploration Company during the first quarter valued at approximately $208,000. 99.04% of the stock is owned by institutional investors.
About Newfield Exploration Company
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.
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