Newfield Exploration Co. (NYSE:NFX) shares rose 0% during mid-day trading on Friday . The company traded as high as $24.70 and last traded at $24.66. Approximately 6,300,000 shares were traded during mid-day trading, an increase of 72% from the average daily volume of 3,660,000 shares. The stock had previously closed at $24.66.
NFX has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Newfield Exploration from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Thursday, October 26th. Williams Capital set a $46.00 price objective on shares of Newfield Exploration and gave the stock a “buy” rating in a research report on Wednesday, November 1st. SunTrust Banks set a $37.00 price objective on shares of Newfield Exploration and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Scotiabank restated a “buy” rating and set a $38.00 price objective on shares of Newfield Exploration in a research report on Wednesday, November 1st. Finally, Barclays boosted their price objective on shares of Newfield Exploration from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $38.50.
The stock has a market cap of $4,920.00, a PE ratio of 12.84, a P/E/G ratio of 0.47 and a beta of 1.35. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.15 and a current ratio of 0.91.
Newfield Exploration (NYSE:NFX) last released its quarterly earnings results on Tuesday, February 20th. The energy company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.60 by $0.11. Newfield Exploration had a net margin of 10.41% and a return on equity of 15.69%. The firm had revenue of $509.00 million during the quarter, compared to the consensus estimate of $497.95 million. During the same quarter in the prior year, the firm earned $0.49 EPS. Newfield Exploration’s revenue for the quarter was up 22.7% on a year-over-year basis. analysts predict that Newfield Exploration Co. will post 2.99 earnings per share for the current year.
In related news, CEO Lee K. Boothby sold 12,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were 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 in the company, valued at approximately $7,107,802.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 36,000 shares of company stock valued at $1,138,680. 0.54% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Newfield Exploration by 1.5% in the 4th quarter. BlackRock Inc. now owns 13,961,934 shares of the energy company’s stock valued at $440,218,000 after buying an additional 208,148 shares during the period. Boston Partners increased its stake in Newfield Exploration by 0.9% in the 3rd quarter. Boston Partners now owns 5,627,037 shares of the energy company’s stock valued at $166,954,000 after buying an additional 51,835 shares during the period. Prudential Financial Inc. increased its stake in Newfield Exploration by 26.9% in the 3rd quarter. Prudential Financial Inc. now owns 4,114,290 shares of the energy company’s stock valued at $122,071,000 after buying an additional 872,434 shares during the period. Geode Capital Management LLC increased its stake in Newfield Exploration by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 2,163,284 shares of the energy company’s stock valued at $68,062,000 after buying an additional 67,472 shares during the period. Finally, Schroder Investment Management Group increased its stake in Newfield Exploration by 70.3% in the 3rd quarter. Schroder Investment Management Group now owns 2,105,206 shares of the energy company’s stock valued at $62,209,000 after buying an additional 869,092 shares during the period. Hedge funds and other institutional investors own 99.82% of the company’s stock.
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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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