Newfield Exploration (NFX) Earns Buy Rating from Piper Jaffray Companies
Newfield Exploration (NYSE:NFX)‘s stock had its “buy” rating restated by research analysts at Piper Jaffray Companies in a research note issued to investors on Tuesday. They presently have a $48.00 price target on the energy company’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 37.93% from the company’s previous close.
NFX has been the subject of a number of other reports. Williams Capital set a $46.00 price target on shares of Newfield Exploration and gave the company a “buy” rating in a research report on Wednesday, November 1st. Royal Bank of Canada reiterated a “buy” rating and set a $39.00 price target on shares of Newfield Exploration in a research report on Tuesday, November 7th. Barclays lifted their price target on shares of Newfield Exploration from $22.00 to $25.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 11th. Morgan Stanley lifted their price target on shares of Newfield Exploration from $31.00 to $33.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 18th. Finally, JPMorgan Chase & Co. cut shares of Newfield Exploration from an “overweight” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Friday, December 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company. Newfield Exploration currently has an average rating of “Buy” and an average target price of $38.59.
Newfield Exploration (NYSE NFX) traded up $0.88 during trading on Tuesday, reaching $34.80. 3,041,900 shares of the company traded hands, compared to its average volume of 3,219,500. Newfield Exploration has a 52-week low of $24.41 and a 52-week high of $43.74. The firm has a market capitalization of $6,980.00, a PE ratio of 20.12, a P/E/G ratio of 1.37 and a beta of 1.45. 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 (NYSE:NFX) last announced its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. Newfield Exploration had a net margin of 20.62% and a return on equity of 35.28%. The business had revenue of $439.00 million during the quarter, compared to analysts’ expectations of $419.75 million. During the same period last year, the business earned $0.45 earnings per share. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. research analysts anticipate that Newfield Exploration will post 2.14 earnings per share for the current fiscal year.
In related news, insider Lee K. Boothby sold 12,000 shares of Newfield Exploration stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $31.30, for a total value of $375,600.00. Following the completion of the transaction, the insider now owns 243,322 shares in the company, valued at $7,615,978.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Juanita F. Romans sold 3,500 shares of Newfield Exploration stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,171,800.68. The disclosure for this sale can be found here. In the last three months, insiders sold 39,500 shares of company stock valued at $1,243,150. Insiders own 0.54% of the company’s stock.
A number of institutional investors have recently modified their holdings of NFX. Janus Henderson Group PLC lifted its stake in Newfield Exploration by 3,994.5% in the third quarter. Janus Henderson Group PLC now owns 1,899,262 shares of the energy company’s stock worth $56,351,000 after acquiring an additional 1,852,876 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Newfield Exploration in the second quarter worth approximately $42,542,000. FMR LLC lifted its stake in Newfield Exploration by 9.9% in the second quarter. FMR LLC now owns 10,459,662 shares of the energy company’s stock worth $297,683,000 after acquiring an additional 938,740 shares during the last quarter. Prudential Financial Inc. lifted its stake in Newfield Exploration by 26.9% in the third quarter. Prudential Financial Inc. now owns 4,114,290 shares of the energy company’s stock worth $122,071,000 after acquiring an additional 872,434 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in Newfield Exploration by 70.3% in the third quarter. Schroder Investment Management Group now owns 2,105,206 shares of the energy company’s stock worth $62,209,000 after acquiring an additional 869,092 shares during 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.
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