Scotiabank reissued their buy rating on shares of Newfield Exploration Company (NYSE:NFX) in a report issued on Wednesday. The firm currently has a $38.00 price target on the energy company’s stock.

Several other research analysts have also recently weighed in on NFX. Jefferies Group LLC set a $40.00 price target on shares of Newfield Exploration and gave the stock a buy rating in a research note on Tuesday, August 29th. Citigroup Inc dropped their price target on shares of Newfield Exploration from $50.00 to $36.00 and set a buy rating on the stock in a research note on Friday, July 21st. Cowen and Company set a $35.00 price target on shares of Newfield Exploration and gave the stock a buy rating in a research note on Tuesday, July 18th. Barclays PLC lifted their price target on shares of Newfield Exploration from $22.00 to $25.00 and gave the stock an equal weight rating in a research note on Wednesday, October 11th. Finally, Morgan Stanley lifted their price target on shares of Newfield Exploration from $31.00 to $33.00 and gave the stock an equal weight rating in a research note on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $39.35.

Newfield Exploration (NFX) opened at $30.66 on Wednesday. The firm has a market cap of $5.89 billion, a P/E ratio of 14.67, a PEG ratio of 1.26 and a beta of 1.47. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.27 and a current ratio of 1.17.

Newfield Exploration (NYSE:NFX) last posted its earnings results on Tuesday, October 31st. The energy company reported $0.52 EPS for the quarter, topping 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 the consensus estimate of $419.75 million. During the same quarter in the previous year, the firm posted $0.45 EPS. The firm’s revenue was up 12.0% on a year-over-year basis. equities analysts expect that Newfield Exploration will post 2.03 EPS for the current year.

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In other news, Director Roger B. Plank bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average price of $25.98 per share, with a total value of $77,940.00. Following the completion of the transaction, the director now directly owns 30,787 shares of the company’s stock, valued at approximately $799,846.26. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lee K. Boothby sold 12,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $26.18, for a total transaction of $314,160.00. Following the sale, the insider now directly owns 279,322 shares of the company’s stock, valued at approximately $7,312,649.96. The disclosure for this sale can be found here. Insiders sold a total of 36,000 shares of company stock valued at $1,043,760 in the last ninety days. Corporate insiders own 0.54% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Newfield Exploration by 3.3% during the second quarter. Vanguard Group Inc. now owns 23,677,528 shares of the energy company’s stock valued at $673,862,000 after acquiring an additional 760,793 shares during the last quarter. BlackRock Inc. lifted its position in Newfield Exploration by 0.4% during the second quarter. BlackRock Inc. now owns 13,843,741 shares of the energy company’s stock valued at $393,993,000 after acquiring an additional 55,230 shares during the last quarter. State Street Corp lifted its position in Newfield Exploration by 5.6% during the second quarter. State Street Corp now owns 12,109,780 shares of the energy company’s stock valued at $344,646,000 after acquiring an additional 638,807 shares during the last quarter. FMR LLC lifted its position in Newfield Exploration by 9.9% during the second quarter. FMR LLC now owns 10,459,662 shares of the energy company’s stock valued at $297,683,000 after acquiring an additional 938,740 shares during the last quarter. Finally, Boston Partners lifted its position in Newfield Exploration by 0.9% during the third quarter. Boston Partners now owns 5,627,037 shares of the energy company’s stock valued at $166,954,000 after acquiring an additional 51,835 shares during the last quarter. 99.15% of the stock is owned by institutional investors.

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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