Shares of Newfield Exploration Company (NYSE:NFX) have been given a consensus recommendation of “Buy” by the twenty-eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $43.05.
A number of brokerages have weighed in on NFX. Zacks Investment Research upgraded shares of Newfield Exploration from a “sell” rating to a “hold” rating in a report on Thursday. J P Morgan Chase & Co restated an “overweight” rating and issued a $36.00 price objective (down previously from $40.00) on shares of Newfield Exploration in a report on Wednesday. Barclays PLC restated an “equal weight” rating and issued a $22.00 price objective (down previously from $23.00) on shares of Newfield Exploration in a report on Wednesday. BMO Capital Markets restated a “buy” rating and issued a $34.00 price objective on shares of Newfield Exploration in a report on Friday, August 4th. Finally, Williams Capital set a $45.00 price objective on shares of Newfield Exploration and gave the stock a “buy” rating in a report on Wednesday, August 2nd.
Newfield Exploration (NFX) opened at 26.26 on Friday. Newfield Exploration has a 12 month low of $25.46 and a 12 month high of $50.00. The company has a market cap of $5.19 billion, a PE ratio of 17.03 and a beta of 1.48. The company has a 50-day moving average of $27.28 and a 200 day moving average of $33.56.
Newfield Exploration (NYSE:NFX) last announced its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.01. The business had revenue of $402 million during the quarter, compared to analysts’ expectations of $413.70 million. Newfield Exploration had a return on equity of 33.17% and a net margin of 18.82%. Newfield Exploration’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 EPS. On average, equities analysts forecast that Newfield Exploration will post $1.91 earnings per share for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in the stock. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Newfield Exploration by 3.5% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 32,700 shares of the energy company’s stock worth $1,208,000 after buying an additional 1,100 shares in the last quarter. Suntrust Banks Inc. acquired a new stake in shares of Newfield Exploration during the first quarter worth approximately $423,000. Cipher Capital LP boosted its stake in shares of Newfield Exploration by 13.8% in the first quarter. Cipher Capital LP now owns 36,718 shares of the energy company’s stock worth $1,355,000 after buying an additional 4,458 shares in the last quarter. ARP Americas LLC acquired a new stake in shares of Newfield Exploration during the first quarter worth approximately $214,000. Finally, World Asset Management Inc boosted its stake in shares of Newfield Exploration by 13.0% in the first quarter. World Asset Management Inc now owns 20,870 shares of the energy company’s stock worth $770,000 after buying an additional 2,407 shares in the last quarter. 99.05% of the stock is owned by institutional investors and hedge funds.
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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