Newfield Exploration Co. (NYSE:NFX) was upgraded by research analysts at KLR Group from a “hold” rating to a “buy” rating in a report issued on Monday, May 8th. The firm presently has a $42.00 target price on the energy company’s stock, up from their previous target price of $41.00. KLR Group’s price target suggests a potential upside of 24.78% from the stock’s previous close.
Several other analysts have also commented on NFX. Canaccord Genuity set a $50.00 price objective on Newfield Exploration and gave the company a “buy” rating in a report on Saturday, February 11th. Barclays PLC reissued an “equal weight” rating and issued a $33.00 target price (down from $39.00) on shares of Newfield Exploration in a research report on Saturday, April 22nd. Stifel Nicolaus reissued a “buy” rating and issued a $48.00 target price on shares of Newfield Exploration in a research report on Wednesday, April 12th. Royal Bank of Canada reissued a “buy” rating and issued a $54.00 target price on shares of Newfield Exploration in a research report on Tuesday, April 25th. Finally, Williams Capital reaffirmed a “buy” rating and set a $56.00 price target on shares of Newfield Exploration in a research report on Wednesday, May 3rd. Six analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $49.53.
Shares of Newfield Exploration (NYSE:NFX) traded up 2.58% during midday trading on Monday, reaching $34.53. The company had a trading volume of 2,685,343 shares. Newfield Exploration has a one year low of $33.00 and a one year high of $50.00. The company’s market capitalization is $6.81 billion. The company has a 50-day moving average price of $35.36 and a 200 day moving average price of $39.10.
Newfield Exploration (NYSE:NFX) last posted its earnings results on Tuesday, May 2nd. The energy company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. The company had revenue of $417 million during the quarter, compared to analyst estimates of $425.44 million. Newfield Exploration had a positive return on equity of 12.41% and a negative net margin of 134.32%. Equities analysts anticipate that Newfield Exploration will post $2.31 earnings per share for the current fiscal year.
In other news, Director James Kent Wells acquired 3,000 shares of Newfield Exploration stock in a transaction that occurred on Monday, February 27th. The shares were acquired at an average price of $36.94 per share, with a total value of $110,820.00. Following the completion of the purchase, the director now owns 11,563 shares of the company’s stock, valued at approximately $427,137.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Lee K. Boothby sold 9,000 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $34.57, for a total transaction of $311,130.00. Following the transaction, the insider now directly owns 335,047 shares in the company, valued at approximately $11,582,574.79. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Massey Quick & Co. LLC bought a new position in Newfield Exploration during the fourth quarter worth $122,000. Global X Management Co. LLC raised its stake in Newfield Exploration 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 during the last quarter. Virtus Investment Advisers Inc. acquired a new stake in Newfield Exploration during the third quarter valued at about $124,000. Pacer Advisors Inc. raised its stake in Newfield Exploration 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 during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in Newfield Exploration during the first quarter valued at about $175,000. 96.67% of the stock is currently 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.
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