Newfield Exploration Co. (NFX) Receives Average Rating of “Buy” from Brokerages

Newfield Exploration Co. (NYSE:NFX) has been assigned a consensus recommendation of “Buy” from the twenty-six brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $39.61.

NFX has been the topic of several research reports. Piper Jaffray Companies cut their price target on Newfield Exploration from $53.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, September 18th. Credit Suisse Group initiated coverage on Newfield Exploration in a research note on Monday, December 11th. They set a “neutral” rating and a $30.00 price target on the stock. BMO Capital Markets set a $34.00 price target on Newfield Exploration and gave the company a “buy” rating in a research note on Tuesday, October 10th. Zacks Investment Research lowered Newfield Exploration from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Finally, Wolfe Research lowered Newfield Exploration from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 5th.

In other Newfield Exploration news, CEO Lee K. Boothby sold 12,000 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $31.84, for a total value of $382,080.00. Following the transaction, the chief executive officer now owns 223,235 shares of the company’s stock, valued at $7,107,802.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Juanita F. Romans sold 3,500 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $30.02, for a total value of $105,070.00. Following the completion of 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 sold 39,500 shares of company stock worth $1,243,150 in the last three months. Insiders own 0.54% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in NFX. Pacer Advisors Inc. lifted its stake in 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 during the period. Tiedemann Wealth Management LLC lifted its stake in 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 during the period. Riverhead Capital Management LLC lifted its stake in 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 during the period. Koch Industries Inc. acquired a new position in Newfield Exploration in the second quarter valued at about $209,000. Finally, Vident Investment Advisory LLC acquired a new position in Newfield Exploration in the third quarter valued at about $212,000. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

Newfield Exploration (NYSE:NFX) traded up $0.15 during trading on Friday, reaching $34.75. The company’s stock had a trading volume of 2,046,536 shares, compared to its average volume of 2,735,211. 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 capitalization of $6,910.00, a price-to-earnings ratio of 20.09, a P/E/G ratio of 1.37 and a beta of 1.45. Newfield Exploration has a one year low of $24.41 and a one year high of $43.74.

Newfield Exploration (NYSE:NFX) last posted its quarterly earnings data on Tuesday, October 31st. The energy company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. The company had revenue of $439.00 million for the quarter, compared to analyst estimates of $419.75 million. Newfield Exploration had a return on equity of 35.28% and a net margin of 20.62%. The business’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 earnings per share. equities analysts forecast that Newfield Exploration will post 2.14 EPS for the current year.

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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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