Zacks Investment Research cut shares of Newfield Exploration Company (NYSE:NFX) from a buy rating to a hold rating in a research report sent to investors on Friday morning.
According to Zacks, “Newfield Exploration is well positioned to benefit from its holding in the Anadarko Basin. The company has substantial acres of land in the Oklahoma region, which gives it the financial flexibility and a sizeable acreage position in the region. This has helped the company to produce at higher-than-average levels. We appreciate the company’s measures to reduce cost related to core operations, especially in an unfavorable business scenario. However, the company has significant exposure to debt as its debt-to-capitalization ratio is 65.2%, much higher than 49.5% of the broader industry. On top of that, Newfield is primarily focused on the U.S. shale plays, with little exposure to China. Hence, less exposure to more profitable international oil resources is a drag. The company’s price chart has also underperformed the broader indices over the last one year.”
NFX has been the topic of several other research reports. Royal Bank Of Canada restated a buy rating and set a $39.00 price target on shares of Newfield Exploration in a research note on Tuesday, November 7th. TheStreet upgraded Newfield Exploration from a d+ rating to a c- rating in a research note on Monday, November 6th. SunTrust Banks, Inc. set a $37.00 target price on Newfield Exploration and gave the company a buy rating in a research note on Tuesday, October 31st. Williams Capital set a $46.00 target price on Newfield Exploration and gave the company a buy rating in a research note on Wednesday, November 1st. Finally, Scotiabank reiterated a buy rating and issued a $38.00 target price on shares of Newfield Exploration in a research note on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the company’s stock. Newfield Exploration has a consensus rating of Buy and a consensus price target of $38.87.
Shares of Newfield Exploration (NYSE NFX) traded down $1.22 on Friday, reaching $32.09. The company had a trading volume of 3,122,100 shares, compared to its average volume of 2,994,308. The company has a market capitalization of $6,649.30, a P/E ratio of 16.57, a PEG ratio of 1.40 and a beta of 1.47. Newfield Exploration has a 12 month low of $24.41 and a 12 month high of $50.00. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.15 and a current ratio of 1.17.
Newfield Exploration (NYSE:NFX) last released its earnings results on Tuesday, October 31st. The energy company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.09. Newfield Exploration had a return on equity of 35.28% and a net margin of 20.62%. The business had revenue of $439.00 million during the quarter, compared to the consensus estimate of $419.75 million. During the same period last year, the company earned $0.45 earnings per share. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. sell-side analysts anticipate that Newfield Exploration will post 2.06 EPS for the current year.
In other news, Director Juanita F. Romans sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $30.02, for a total value of $105,070.00. Following the completion of the sale, the director now directly owns 39,034 shares in the company, valued at $1,171,800.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lee K. Boothby sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $29.10, for a total value of $349,200.00. The disclosure for this sale can be found here. Insiders sold 39,500 shares of company stock valued at $1,148,830 over the last 90 days. Company insiders own 0.54% of the company’s stock.
Several institutional investors have recently bought and sold shares of NFX. Pacer Advisors Inc. increased its position in shares of Newfield Exploration by 8.5% in the second quarter. Pacer Advisors Inc. now owns 4,059 shares of the energy company’s stock valued at $116,000 after buying an additional 319 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Newfield Exploration in the second quarter valued at approximately $131,000. Tiedemann Wealth Management LLC increased its position in shares of Newfield Exploration by 36.0% in the third quarter. Tiedemann Wealth Management LLC now owns 28,966 shares of the energy company’s stock valued at $148,000 after buying an additional 7,664 shares in the last quarter. Riverhead Capital Management LLC increased its position in shares of Newfield Exploration by 17.1% in the second quarter. Riverhead Capital Management LLC now owns 6,922 shares of the energy company’s stock valued at $197,000 after buying an additional 1,013 shares in the last quarter. Finally, Koch Industries Inc. purchased a new stake in shares of Newfield Exploration in the second quarter valued at approximately $209,000. Institutional investors and hedge funds own 98.76% of the company’s stock.
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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