Investment analysts at Credit Suisse Group started coverage on shares of Newfield Exploration (NYSE:NFX) in a research report issued to clients and investors on Monday. The brokerage set a “neutral” rating and a $30.00 price target on the energy company’s stock. Credit Suisse Group’s target price points to a potential downside of 1.19% from the stock’s previous close.
A number of other brokerages have also recently commented on NFX. Royal Bank of Canada reissued a “buy” rating and issued a $39.00 price objective on shares of Newfield Exploration in a research note on Tuesday, November 7th. TheStreet raised shares of Newfield Exploration from a “d+” rating to a “c-” rating in a research note on Monday, November 6th. Zacks Investment Research cut shares of Newfield Exploration from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. KeyCorp reissued a “hold” rating on shares of Newfield Exploration in a research note on Monday, November 13th. Finally, Wolfe Research cut shares of Newfield Exploration from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 5th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. Newfield Exploration presently has an average rating of “Buy” and an average target price of $37.81.
Shares of Newfield Exploration (NYSE NFX) traded up $0.97 during midday trading on Monday, reaching $30.36. 2,253,100 shares of the company were exchanged, compared to its average volume of 2,920,255. The firm has a market cap of $6,060.00, a PE ratio of 14.62, a price-to-earnings-growth ratio of 1.21 and a beta of 1.44. Newfield Exploration has a 12-month low of $24.41 and a 12-month high of $50.00. 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 issued its quarterly earnings data on Tuesday, October 31st. The energy company reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.09. The firm had revenue of $439.00 million for the quarter, compared to analysts’ expectations of $419.75 million. Newfield Exploration had a net margin of 20.62% and a return on equity of 35.28%. The firm’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 EPS. analysts predict that Newfield Exploration will post 2.1 earnings per share for the current year.
In related news, Director Juanita F. Romans sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $30.02, for a total value of $105,070.00. Following the sale, the director now directly owns 39,034 shares of the company’s stock, valued at $1,171,800.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lee K. Boothby sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $31.30, for a total transaction of $375,600.00. Following the completion of the sale, the insider now directly owns 243,322 shares in the company, valued at $7,615,978.60. The disclosure for this sale can be found here. Insiders sold 39,500 shares of company stock worth $1,210,270 over the last three months. Corporate insiders own 0.54% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC boosted its position in shares of Newfield Exploration by 52.7% in the third quarter. Neuberger Berman Group LLC now owns 12,588 shares of the energy company’s stock worth $373,000 after acquiring an additional 4,345 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of Newfield Exploration in the third quarter worth approximately $1,206,000. California Public Employees Retirement System boosted its position in shares of Newfield Exploration by 9.1% in the third quarter. California Public Employees Retirement System now owns 425,649 shares of the energy company’s stock worth $12,629,000 after acquiring an additional 35,549 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Newfield Exploration in the third quarter worth approximately $17,802,000. Finally, Earnest Partners LLC boosted its position in shares of Newfield Exploration by 0.4% in the third quarter. Earnest Partners LLC now owns 862,684 shares of the energy company’s stock worth $25,596,000 after acquiring an additional 3,292 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.
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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.
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