Newfield Exploration (NYSE:NFX) Price Target Increased to $28.00 by Analysts at Barclays

Newfield Exploration (NYSE:NFX) had its price objective lifted by analysts at Barclays from $27.00 to $28.00 in a note issued to investors on Monday, November 20th. The brokerage currently has an “equal weight” rating on the energy company’s stock. Barclays’ target price would indicate a potential downside of 2.98% from the company’s current price.

NFX has been the subject of a number of other reports. Jefferies Group set a $40.00 target price on Newfield Exploration and gave the company a “buy” rating in a report on Tuesday, August 29th. Morgan Stanley raised their target price on Newfield Exploration from $31.00 to $33.00 and gave the company an “equal weight” rating in a report on Wednesday, October 18th. Royal Bank Of Canada restated a “buy” rating and set a $39.00 target price on shares of Newfield Exploration in a report on Tuesday, November 7th. BMO Capital Markets set a $34.00 target price on Newfield Exploration and gave the company a “buy” rating in a report on Tuesday, October 10th. Finally, Zacks Investment Research cut Newfield Exploration from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $38.62.

Newfield Exploration (NYSE NFX) traded up $0.42 during midday trading on Monday, reaching $28.86. The company had a trading volume of 1,896,408 shares, compared to its average volume of 2,923,672. Newfield Exploration has a 1 year low of $24.41 and a 1 year high of $50.00. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 1.87. The firm has a market cap of $6,100.35, a P/E ratio of 15.20, a P/E/G ratio of 1.26 and a beta of 1.44.

Newfield Exploration (NYSE:NFX) last released its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. The business had revenue of $439.00 million during the quarter, compared to analysts’ expectations of $419.75 million. Newfield Exploration had a return on equity of 35.28% and a net margin of 20.62%. The company’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.45 EPS. research analysts predict that Newfield Exploration will post 2.1 EPS for the current fiscal year.

In other Newfield Exploration news, insider Lee K. Boothby sold 12,000 shares of Newfield Exploration stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $29.10, for a total transaction of $349,200.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Juanita F. Romans sold 3,500 shares of Newfield Exploration 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 transaction, the director now directly owns 39,034 shares in the company, valued at approximately $1,171,800.68. The disclosure for this sale can be found here. Insiders have sold a total of 39,500 shares of company stock worth $1,210,270 in the last three months. Corporate insiders own 0.54% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its stake in shares of Newfield Exploration by 8.5% in the 2nd quarter. Pacer Advisors Inc. now owns 4,059 shares of the energy company’s stock valued at $116,000 after purchasing an additional 319 shares during the last quarter. Dupont Capital Management Corp purchased a new position in shares of Newfield Exploration in the 2nd quarter valued at approximately $131,000. Riverhead Capital Management LLC grew its stake in shares of Newfield Exploration by 17.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,922 shares of the energy company’s stock valued at $197,000 after purchasing an additional 1,013 shares during the last quarter. Vident Investment Advisory LLC purchased a new position in shares of Newfield Exploration in the 3rd quarter valued at approximately $212,000. Finally, Thrivent Financial For Lutherans grew its stake in shares of Newfield Exploration by 5.5% in the 1st quarter. Thrivent Financial For Lutherans now owns 7,300 shares of the energy company’s stock valued at $269,000 after purchasing an additional 380 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Newfield Exploration (NYSE:NFX)

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