Newfield Exploration Company (NYSE:NFX) had its target price lifted by Morgan Stanley from $31.00 to $33.00 in a research note published on Wednesday, October 18th. Morgan Stanley currently has an equal weight rating on the energy company’s stock.
Several other brokerages have also issued reports on NFX. Seaport Global Securities lowered Newfield Exploration from a buy rating to a sell rating and lowered their price target for the company from $50.00 to $24.00 in a research note on Wednesday, June 21st. BidaskClub lowered Newfield Exploration from a sell rating to a strong sell rating in a research note on Wednesday, June 21st. BMO Capital Markets set a $34.00 price target on Newfield Exploration and gave the company a buy rating in a research note on Monday, June 26th. Scotiabank restated a buy rating and set a $39.00 price target on shares of Newfield Exploration in a research note on Friday, June 30th. Finally, Jefferies Group LLC reaffirmed a buy rating and set a $46.00 price objective on shares of Newfield Exploration in a report on Thursday, July 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Newfield Exploration presently has an average rating of Buy and a consensus price target of $39.37.
Newfield Exploration (NFX) opened at 29.07 on Wednesday. The stock has a market cap of $5.74 billion, a PE ratio of 18.85 and a beta of 1.53. Newfield Exploration has a 52 week low of $24.41 and a 52 week high of $50.00. The stock has a 50 day moving average price of $28.76 and a 200 day moving average price of $29.63.
Newfield Exploration (NYSE:NFX) last posted its earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.01). Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. The company had revenue of $402.00 million for the quarter, compared to the consensus estimate of $413.70 million. During the same quarter last year, the business earned $0.32 earnings per share. Newfield Exploration’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts predict that Newfield Exploration will post $1.93 earnings per share for the current year.
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In other Newfield Exploration news, insider Lee K. Boothby sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $26.18, for a total value of $314,160.00. Following the sale, the insider now owns 279,322 shares in the company, valued at $7,312,649.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roger B. Plank purchased 3,000 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average price of $25.98 per share, for a total transaction of $77,940.00. Following the acquisition, the director now owns 30,787 shares of the company’s stock, valued at approximately $799,846.26. The disclosure for this purchase can be found here. 0.54% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of NFX. PNC Financial Services Group Inc. lifted its holdings in shares of Newfield Exploration by 29.1% during the first quarter. PNC Financial Services Group Inc. now owns 15,980 shares of the energy company’s stock worth $590,000 after purchasing an additional 3,602 shares during the period. Thrivent Financial For Lutherans lifted its holdings in shares of Newfield Exploration by 5.5% during the first quarter. Thrivent Financial For Lutherans now owns 7,300 shares of the energy company’s stock worth $269,000 after purchasing an additional 380 shares during the period. Global X Management Co. LLC lifted its holdings in shares of Newfield Exploration by 30.5% during the first quarter. Global X Management Co. LLC now owns 3,311 shares of the energy company’s stock worth $122,000 after purchasing an additional 774 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Newfield Exploration by 3.5% during 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 purchasing an additional 1,100 shares during the period. Finally, UBS Group AG lifted its holdings in shares of Newfield Exploration by 11.1% during the first quarter. UBS Group AG now owns 88,937 shares of the energy company’s stock worth $3,283,000 after purchasing an additional 8,876 shares during the period. Institutional investors own 99.15% of the company’s stock.
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.
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