Newfield Exploration’s (NFX) “Buy” Rating Reaffirmed at Williams Capital

Williams Capital reiterated their buy rating on shares of Newfield Exploration (NYSE:NFX) in a research note published on Wednesday. The brokerage currently has a $44.00 target price on the energy company’s stock.

A number of other brokerages have also recently commented on NFX. KLR Group cut shares of Newfield Exploration from a buy rating to a hold rating and set a $36.00 price objective on the stock. in a research note on Tuesday, January 23rd. Morgan Stanley upped their target price on shares of Newfield Exploration from $33.00 to $37.00 and gave the company an equal weight rating in a report on Wednesday, January 24th. UBS started coverage on shares of Newfield Exploration in a report on Wednesday, March 7th. They issued a buy rating and a $30.00 target price on the stock. Jefferies Group set a $35.00 target price on shares of Newfield Exploration and gave the company a buy rating in a report on Friday, February 23rd. Finally, Zacks Investment Research lowered shares of Newfield Exploration from a strong-buy rating to a hold rating in a report on Wednesday, January 31st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $37.57.

Shares of Newfield Exploration opened at $29.43 on Wednesday, according to Marketbeat.com. The stock has a market capitalization of $5.94 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 0.74 and a beta of 1.51. Newfield Exploration has a 52 week low of $22.72 and a 52 week high of $35.20. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.74 and a current ratio of 0.77.

Newfield Exploration (NYSE:NFX) last issued its quarterly earnings data on Tuesday, May 1st. The energy company reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.08. The firm had revenue of $580.00 million for the quarter, compared to analysts’ expectations of $552.56 million. Newfield Exploration had a net margin of 18.96% and a return on equity of 36.67%. The firm’s revenue was up 39.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.57 EPS. equities research analysts expect that Newfield Exploration will post 3.2 earnings per share for the current year.

In related news, Director Roger B. Plank acquired 2,000 shares of the business’s stock in a transaction dated Wednesday, March 28th. The shares were acquired at an average cost of $23.38 per share, for a total transaction of $46,760.00. Following the acquisition, the director now directly owns 32,787 shares in the company, valued at approximately $766,560.06. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas G. Ricks acquired 8,250 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were bought at an average price of $23.78 per share, for a total transaction of $196,185.00. Following the completion of the acquisition, the director now owns 66,447 shares in the company, valued at $1,580,109.66. The disclosure for this purchase can be found here. Corporate insiders own 0.59% of the company’s stock.

Several hedge funds have recently made changes to their positions in NFX. Xact Kapitalforvaltning AB increased its position in Newfield Exploration by 9.6% during the 1st quarter. Xact Kapitalforvaltning AB now owns 21,901 shares of the energy company’s stock worth $535,000 after purchasing an additional 1,910 shares in the last quarter. US Bancorp DE increased its position in Newfield Exploration by 4.2% during the 1st quarter. US Bancorp DE now owns 48,121 shares of the energy company’s stock worth $1,175,000 after purchasing an additional 1,922 shares in the last quarter. HBK Investments L P increased its position in Newfield Exploration by 11.9% during the 4th quarter. HBK Investments L P now owns 18,131 shares of the energy company’s stock worth $572,000 after purchasing an additional 1,932 shares in the last quarter. Rampart Investment Management Company LLC increased its position in Newfield Exploration by 84.7% during the 1st quarter. Rampart Investment Management Company LLC now owns 4,513 shares of the energy company’s stock worth $110,000 after purchasing an additional 2,070 shares in the last quarter. Finally, Amalgamated Bank increased its position in Newfield Exploration by 5.3% during the 4th quarter. Amalgamated Bank now owns 41,413 shares of the energy company’s stock worth $1,306,000 after purchasing an additional 2,095 shares in the last quarter. Institutional investors and hedge funds own 99.36% of the company’s stock.

About Newfield Exploration

Newfield Exploration Company, an independent energy company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company has operations principally in the Anadarko and Arkoma basins of Oklahoma, the Williston Basin of North Dakota, and the Uinta Basin of Utah.

Analyst Recommendations for Newfield Exploration (NYSE:NFX)

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