Newfield Exploration (NYSE:NFX) had its target price decreased by BMO Capital Markets from $36.00 to $29.00 in a report published on Friday morning. BMO Capital Markets currently has a market perform rating on the energy company’s stock.
A number of other research firms have also recently issued reports on NFX. Scotiabank set a $39.00 target price on shares of Newfield Exploration and gave the company a buy rating in a research note on Saturday, November 25th. Zacks Investment Research upgraded shares of Newfield Exploration from a hold rating to a strong-buy rating and set a $40.00 target price for the company in a research note on Monday, January 15th. Piper Jaffray Companies reiterated a buy rating and issued a $48.00 target price on shares of Newfield Exploration in a research note on Tuesday, January 9th. KLR Group cut shares of Newfield Exploration from a buy rating to a hold rating and set a $36.00 target price for the company. in a research note on Tuesday, January 23rd. Finally, Williams Capital set a $46.00 target price on shares of Newfield Exploration and gave the company a buy rating in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the stock. Newfield Exploration currently has an average rating of Buy and a consensus price target of $38.27.
Newfield Exploration (NYSE NFX) traded up $1.20 during trading hours on Friday, hitting $24.66. 6,302,475 shares of the stock were exchanged, compared to its average volume of 3,660,000. Newfield Exploration has a 52 week low of $22.96 and a 52 week high of $37.89. The company has a quick ratio of 1.15, a current ratio of 0.91 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $4,920.00, a PE ratio of 12.84, a P/E/G ratio of 0.59 and a beta of 1.35.
Newfield Exploration (NYSE:NFX) last posted its earnings results on Tuesday, February 20th. The energy company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. Newfield Exploration had a net margin of 24.17% and a return on equity of 35.57%. The company had revenue of $509.00 million during the quarter, compared to analysts’ expectations of $497.95 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. Newfield Exploration’s quarterly revenue was up 22.7% compared to the same quarter last year. analysts anticipate that Newfield Exploration will post 3.02 earnings per share for the current fiscal year.
In related news, CEO Lee K. Boothby sold 12,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $7,107,802.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 36,000 shares of company stock valued at $1,138,680. 0.54% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NFX. Public Employees Retirement System of Ohio grew its holdings in Newfield Exploration by 6.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 114,242 shares of the energy company’s stock worth $3,251,000 after acquiring an additional 6,512 shares during the period. Mutual of America Capital Management LLC grew its holdings in Newfield Exploration by 21.2% during the 3rd quarter. Mutual of America Capital Management LLC now owns 40,425 shares of the energy company’s stock worth $1,199,000 after acquiring an additional 7,063 shares during the period. Oakbrook Investments LLC grew its holdings in Newfield Exploration by 20.7% during the 3rd quarter. Oakbrook Investments LLC now owns 19,500 shares of the energy company’s stock worth $579,000 after acquiring an additional 3,350 shares during the period. APG Asset Management N.V. grew its holdings in Newfield Exploration by 67.5% during the 3rd quarter. APG Asset Management N.V. now owns 44,900 shares of the energy company’s stock worth $1,332,000 after acquiring an additional 18,100 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in Newfield Exploration during the 3rd quarter worth $819,000. 99.82% 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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