Newfield Exploration (NFX) Sees Large Volume Increase
Shares of Newfield Exploration Co. (NYSE:NFX) saw strong trading volume on Tuesday . 53,885,336 shares traded hands during mid-day trading, an increase of 491% from the previous session’s volume of 9,125,008 shares.The stock last traded at $16.35 and had previously closed at $16.20.
Several equities research analysts have recently issued reports on the stock. Williams Capital restated a “hold” rating and issued a $20.00 target price on shares of Newfield Exploration in a report on Monday. Zacks Investment Research lowered shares of Newfield Exploration from a “buy” rating to a “hold” rating in a report on Wednesday, November 14th. Citigroup lowered shares of Newfield Exploration from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $36.00 to $24.00 in a report on Friday, November 2nd. Morgan Stanley lowered their target price on shares of Newfield Exploration from $23.00 to $20.00 and set a “hold” rating for the company in a report on Tuesday, November 20th. Finally, Susquehanna Bancshares reiterated a “neutral” rating on shares of Newfield Exploration in a report on Friday, November 2nd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $31.27.
The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 7.94, a P/E/G ratio of 0.35 and a beta of 1.85. The company has a current ratio of 0.72, a quick ratio of 0.70 and a debt-to-equity ratio of 1.30.
Newfield Exploration Company Profile (NYSE:NFX)
Newfield Exploration Company, an independent energy company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company has operations principally in the Anadarko and Arkoma basins of Oklahoma, the Williston Basin of North Dakota, and the Uinta Basin of Utah.
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