Newfield Exploration Company (NFX) Receives Average Recommendation of “Buy” from Brokerages
Shares of Newfield Exploration Company (NYSE:NFX) have received an average recommendation of “Buy” from the twenty-eight research firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, six have given a hold recommendation and twenty have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $43.05.
A number of equities research analysts have recently weighed in on NFX shares. Citigroup Inc. cut their price objective on Newfield Exploration from $50.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Williams Capital reiterated a “buy” rating and issued a $56.00 price objective on shares of Newfield Exploration in a research report on Wednesday, May 3rd. Credit Suisse Group AG reiterated an “outperform” rating and issued a $47.00 price objective on shares of Newfield Exploration in a research report on Friday, June 2nd. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $42.00 price objective (down from $48.00) on shares of Newfield Exploration in a research report on Monday, June 5th. Finally, Scotiabank reiterated a “buy” rating and issued a $39.00 price objective on shares of Newfield Exploration in a research report on Friday, June 30th.
In other Newfield Exploration news, Director Roger B. Plank purchased 3,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was purchased at an average price of $25.98 per share, for a total transaction of $77,940.00. Following the completion of the purchase, the director now directly owns 30,787 shares of the company’s stock, valued at $799,846.26. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.54% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Newfield Exploration by 3.5% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 32,700 shares of the energy company’s stock valued at $1,208,000 after buying an additional 1,100 shares during the last quarter. Suntrust Banks Inc. purchased a new stake in shares of Newfield Exploration during the first quarter valued at approximately $423,000. Cipher Capital LP raised its stake in shares of Newfield Exploration by 13.8% in the first quarter. Cipher Capital LP now owns 36,718 shares of the energy company’s stock valued at $1,355,000 after buying an additional 4,458 shares during the last quarter. ARP Americas LLC purchased a new stake in shares of Newfield Exploration during the first quarter valued at approximately $214,000. Finally, World Asset Management Inc raised its stake in shares of Newfield Exploration by 13.0% in the first quarter. World Asset Management Inc now owns 20,870 shares of the energy company’s stock valued at $770,000 after buying an additional 2,407 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.
Shares of Newfield Exploration (NYSE:NFX) traded down 1.24% during trading on Tuesday, reaching $25.49. The company’s stock had a trading volume of 2,884,427 shares. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 16.53 and a beta of 1.48. Newfield Exploration has a 52-week low of $25.03 and a 52-week high of $50.00. The stock’s 50 day moving average price is $27.13 and its 200-day moving average price is $33.09.
Newfield Exploration (NYSE:NFX) last issued its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.01. The business had revenue of $402 million during the quarter, compared to the consensus estimate of $413.70 million. Newfield Exploration had a return on equity of 33.17% and a net margin of 18.82%. Newfield Exploration’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 earnings per share. Equities analysts anticipate that Newfield Exploration will post $1.92 EPS for the current year.
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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.
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