Barclays PLC restated their equal weight rating on shares of Newfield Exploration Company (NYSE:NFX) in a research report sent to investors on Wednesday, August 9th. The brokerage currently has a $22.00 price objective on the energy company’s stock, down from their previous price objective of $23.00.
Several other research analysts also recently weighed in on NFX. BidaskClub raised shares of Newfield Exploration from a strong sell rating to a sell rating in a research note on Monday, July 31st. Royal Bank Of Canada set a $54.00 price target on Newfield Exploration and gave the company a buy rating in a report on Saturday, June 3rd. Williams Capital set a $45.00 price target on Newfield Exploration and gave the company a buy rating in a report on Wednesday, August 2nd. BMO Capital Markets restated a buy rating and issued a $34.00 price target on shares of Newfield Exploration in a report on Friday, August 4th. Finally, Scotiabank restated a buy rating and issued a $46.00 price target on shares of Newfield Exploration in a report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $42.75.
Newfield Exploration (NFX) traded up 1.36% during midday trading on Wednesday, hitting $25.31. 2,837,719 shares of the stock were exchanged. The stock has a market cap of $5.00 billion, a P/E ratio of 16.41 and a beta of 1.48. The firm has a 50-day moving average price of $26.89 and a 200-day moving average price of $32.87. Newfield Exploration has a one year low of $24.91 and a one year high of $50.00.
Newfield Exploration (NYSE:NFX) last announced its earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.44 by $0.01. Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. The firm had revenue of $402 million during the quarter, compared to analyst estimates of $413.70 million. During the same period in the previous year, the firm posted $0.32 EPS. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities research analysts anticipate that Newfield Exploration will post $1.92 EPS for the current fiscal year.
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In related news, Director Roger B. Plank acquired 3,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average cost of $25.98 per share, for a total transaction of $77,940.00. Following the purchase, the director now directly owns 30,787 shares in the company, valued at $799,846.26. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.54% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NFX. Cubic Asset Management LLC boosted its position in Newfield Exploration by 0.6% in the first quarter. Cubic Asset Management LLC now owns 8,880 shares of the energy company’s stock valued at $328,000 after buying an additional 50 shares during the last quarter. CIBC Asset Management Inc boosted its position in Newfield Exploration by 0.4% in the second quarter. CIBC Asset Management Inc now owns 17,727 shares of the energy company’s stock valued at $505,000 after buying an additional 70 shares during the last quarter. Utah Retirement Systems boosted its position in Newfield Exploration by 0.3% in the second quarter. Utah Retirement Systems now owns 36,416 shares of the energy company’s stock valued at $1,037,000 after buying an additional 100 shares during the last quarter. Pacer Advisors Inc. boosted its position 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, Louisiana State Employees Retirement System boosted its position in Newfield Exploration by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 12,400 shares of the energy company’s stock valued at $353,000 after buying an additional 200 shares during the last quarter. 98.33% 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.
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