Newfield Exploration Co. (NYSE:NFX) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 14,870,789 shares, a growth of 36.1% from the February 15th total of 10,925,952 shares. Based on an average daily trading volume, of 6,387,668 shares, the days-to-cover ratio is presently 2.3 days. Currently, 9.2% of the company’s stock are sold short.
Newfield Exploration (NYSE:NFX) opened at $23.50 on Wednesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.89 and a current ratio of 0.91. The firm has a market capitalization of $4,690.00, a price-to-earnings ratio of 12.24, a PEG ratio of 0.60 and a beta of 1.56. Newfield Exploration has a 12 month low of $22.72 and a 12 month high of $37.61.
Newfield Exploration (NYSE:NFX) last posted its quarterly earnings results on Tuesday, February 20th. The energy company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.11. The company had revenue of $509.00 million during the quarter, compared to the consensus estimate of $497.95 million. Newfield Exploration had a return on equity of 35.57% and a net margin of 24.17%. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 EPS. research analysts forecast that Newfield Exploration will post 2.94 earnings per share for the current fiscal year.
In related news, Director Thomas G. Ricks purchased 8,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was acquired at an average price of $23.78 per share, for a total transaction of $196,185.00. Following the completion of the acquisition, the director now owns 66,447 shares of the company’s stock, valued at approximately $1,580,109.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lee K. Boothby sold 12,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $31.75, for a total value of $381,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.
Several hedge funds have recently bought and sold shares of NFX. First Trust Advisors LP grew its stake in shares of Newfield Exploration by 28.1% during the 3rd quarter. First Trust Advisors LP now owns 243,839 shares of the energy company’s stock worth $7,235,000 after acquiring an additional 53,550 shares during the period. Crossmark Global Holdings Inc. bought a new position in shares of Newfield Exploration during the 3rd quarter worth $504,000. Victory Capital Management Inc. grew its stake in shares of Newfield Exploration by 1,064.9% during the 3rd quarter. Victory Capital Management Inc. now owns 39,992 shares of the energy company’s stock worth $1,187,000 after acquiring an additional 36,559 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Newfield Exploration by 73.8% during the 3rd quarter. Canada Pension Plan Investment Board now owns 86,400 shares of the energy company’s stock worth $2,563,000 after acquiring an additional 36,700 shares during the period. Finally, Keybank National Association OH bought a new position in shares of Newfield Exploration during the 3rd quarter worth $350,000. Institutional investors own 99.82% of the company’s stock.
Several equities research analysts recently issued reports on the company. Credit Suisse Group assumed coverage on Newfield Exploration in a report on Monday, December 11th. They set a “neutral” rating and a $30.00 price target for the company. B. Riley assumed coverage on Newfield Exploration in a research note on Monday, February 5th. They issued a “buy” rating and a $46.00 price objective for the company. BMO Capital Markets restated a “hold” rating and issued a $36.00 price objective on shares of Newfield Exploration in a research note on Sunday, January 14th. Wolfe Research downgraded Newfield Exploration from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 5th. Finally, Cowen set a $40.00 price objective on Newfield Exploration and gave the company a “buy” rating in a research note on Thursday, January 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $37.59.
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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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