Newfield Exploration (NFX) Given a $40.00 Price Target by Cowen Analysts

Cowen set a $40.00 target price on Newfield Exploration (NYSE:NFX) in a report released on Thursday morning. The brokerage currently has a buy rating on the energy company’s stock.

A number of other analysts have also weighed in on NFX. Stifel Nicolaus set a $37.00 price objective on Newfield Exploration and gave the company a buy rating in a research note on Thursday, October 5th. BMO Capital Markets set a $34.00 price objective on Newfield Exploration and gave the company a buy rating in a research note on Tuesday, October 10th. Barclays increased their price objective on Newfield Exploration from $22.00 to $25.00 and gave the company an equal weight rating in a research note on Wednesday, October 11th. Jefferies Group reissued a buy rating and set a $39.00 price objective on shares of Newfield Exploration in a research note on Thursday, October 12th. Finally, KeyCorp reissued a hold rating on shares of Newfield Exploration in a research note on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $39.27.

Newfield Exploration (NYSE:NFX) traded down $0.42 during trading hours on Thursday, hitting $33.32. The stock had a trading volume of 3,670,107 shares, compared to its average volume of 2,290,000. The stock has a market capitalization of $6,650.00, a price-to-earnings ratio of 19.26, a PEG ratio of 0.72 and a beta of 1.45. Newfield Exploration has a 52-week low of $24.41 and a 52-week high of $43.74. 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 quarterly earnings data on Tuesday, October 31st. The energy company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. The firm had revenue of $439.00 million during 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 quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 earnings per share. equities research analysts forecast that Newfield Exploration will post 2.14 EPS for the current fiscal year.

In related news, CEO Lee K. Boothby sold 12,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $31.84, for a total value of $382,080.00. Following the completion of the sale, the chief executive officer now owns 223,235 shares of the company’s stock, valued at $7,107,802.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Juanita F. Romans sold 3,500 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $1,171,800.68. The disclosure for this sale can be found here. Insiders sold 39,500 shares of company stock valued at $1,243,150 in the last ninety days. 0.54% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in NFX. Vanguard Group Inc. lifted its position in Newfield Exploration by 3.3% during the second quarter. Vanguard Group Inc. now owns 23,677,528 shares of the energy company’s stock valued at $673,862,000 after buying an additional 760,793 shares during the period. 361 Capital LLC lifted its position in Newfield Exploration by 15.6% during the second quarter. 361 Capital LLC now owns 183,420 shares of the energy company’s stock valued at $5,220,000 after buying an additional 24,812 shares during the period. California Public Employees Retirement System lifted its position in Newfield Exploration by 9.1% during the third quarter. California Public Employees Retirement System now owns 425,649 shares of the energy company’s stock valued at $12,629,000 after buying an additional 35,549 shares during the period. Canada Pension Plan Investment Board lifted its position in Newfield Exploration by 73.8% during the third quarter. Canada Pension Plan Investment Board now owns 86,400 shares of the energy company’s stock valued at $2,563,000 after buying an additional 36,700 shares during the period. Finally, Bessemer Group Inc. lifted its position in Newfield Exploration by 43.3% during the third quarter. Bessemer Group Inc. now owns 53,172 shares of the energy company’s stock valued at $1,578,000 after buying an additional 16,059 shares during the period. 99.67% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Newfield Exploration (NYSE:NFX)

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