Newfield Exploration (NYSE:NFX) has been assigned a $40.00 target price by research analysts at Cowen in a note issued to investors on Thursday. The firm presently has a “buy” rating on the energy company’s stock. Cowen’s price objective indicates a potential upside of 20.05% from the company’s current price.
Other equities analysts have also recently issued reports about the company. Scotiabank reissued a “buy” rating and issued a $38.00 price target on shares of Newfield Exploration in a report on Wednesday, November 1st. Williams Capital set a $46.00 price target on Newfield Exploration and gave the stock a “buy” rating in a report on Wednesday, November 1st. SunTrust Banks set a $37.00 price target on Newfield Exploration and gave the stock a “buy” rating in a report on Tuesday, October 31st. BMO Capital Markets set a $34.00 price target on Newfield Exploration and gave the stock a “buy” rating in a report on Tuesday, October 10th. Finally, Stifel Nicolaus set a $37.00 price target on Newfield Exploration and gave the stock a “buy” rating in a report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $39.27.
Newfield Exploration (NYSE:NFX) traded down $0.42 during midday trading 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. Newfield Exploration has a 12 month low of $24.41 and a 12 month high of $43.74. The firm has a market capitalization of $6,650.00, a PE ratio of 19.26, a price-to-earnings-growth ratio of 0.72 and a beta of 1.45. 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 results on Tuesday, October 31st. The energy company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.09. Newfield Exploration had a return on equity of 35.28% and a net margin of 20.62%. The company had revenue of $439.00 million during the quarter, compared to analysts’ expectations of $419.75 million. During the same period in the previous year, the firm posted $0.45 earnings per share. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. analysts forecast that Newfield Exploration will post 2.14 EPS for the current fiscal year.
In other Newfield Exploration news, CEO Lee K. Boothby sold 12,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $31.84, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Juanita F. Romans sold 3,500 shares of the business’s 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 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 over the last quarter. Insiders own 0.54% of the company’s stock.
A number of hedge funds have recently bought and sold shares of NFX. Tiedemann Wealth Management LLC grew its position in Newfield Exploration by 36.0% during the third quarter. Tiedemann Wealth Management LLC now owns 28,966 shares of the energy company’s stock valued at $148,000 after acquiring an additional 7,664 shares during the period. Riverhead Capital Management LLC grew its position in Newfield Exploration by 17.1% during the second quarter. Riverhead Capital Management LLC now owns 6,922 shares of the energy company’s stock valued at $197,000 after acquiring an additional 1,013 shares during the period. Koch Industries Inc. purchased a new stake in Newfield Exploration during the second quarter valued at about $209,000. Vident Investment Advisory LLC purchased a new stake in Newfield Exploration during the third quarter valued at about $212,000. Finally, Thrivent Financial For Lutherans grew its position in Newfield Exploration by 3.2% during the second quarter. Thrivent Financial For Lutherans now owns 7,530 shares of the energy company’s stock valued at $214,000 after acquiring an additional 230 shares during the period. 99.67% of the stock is owned by hedge funds and other institutional investors.
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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.
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