Newfield Exploration (NYSE:NFX) was upgraded by equities researchers at Seaport Global Securities from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, Marketbeat reports. The brokerage presently has a $38.00 price objective on the energy company’s stock. Seaport Global Securities’ price target points to a potential upside of 30.27% from the stock’s previous close. Seaport Global Securities also issued estimates for Newfield Exploration’s FY2018 earnings at $2.83 EPS.
Other equities analysts have also recently issued reports about the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $29.00 price target (down from $36.00) on shares of Newfield Exploration in a research note on Friday, February 23rd. KLR Group cut Newfield Exploration from a “buy” rating to a “hold” rating and set a $36.00 price target on the stock. in a research note on Tuesday, January 23rd. Stifel Nicolaus set a $45.00 price target on Newfield Exploration and gave the stock a “buy” rating in a research note on Friday, March 2nd. Zacks Investment Research cut Newfield Exploration from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Jefferies Group set a $35.00 price target on Newfield Exploration and gave the stock a “buy” rating in a research note on Friday, February 23rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $37.57.
Shares of Newfield Exploration stock opened at $29.17 on Wednesday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.74 and a current ratio of 0.77. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 0.74 and a beta of 1.51. Newfield Exploration has a one year low of $22.72 and a one year high of $35.20.
Newfield Exploration (NYSE:NFX) last announced its quarterly earnings results on Tuesday, May 1st. The energy company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.08. The business had revenue of $580.00 million for the quarter, compared to analysts’ expectations of $552.56 million. Newfield Exploration had a return on equity of 36.67% and a net margin of 18.96%. The business’s quarterly revenue was up 39.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS. equities analysts expect that Newfield Exploration will post 3.2 EPS for the current fiscal year.
In other news, Director Roger B. Plank purchased 2,000 shares of Newfield Exploration stock in a transaction that occurred on Wednesday, March 28th. The shares were bought at an average cost of $23.38 per share, with a total value of $46,760.00. Following the completion of the purchase, the director now directly owns 32,787 shares in the company, valued at $766,560.06. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas G. Ricks purchased 8,250 shares of Newfield Exploration stock in a transaction that occurred on Thursday, March 1st. The stock was purchased at an average cost of $23.78 per share, for a total transaction of $196,185.00. Following the completion of the purchase, the director now owns 66,447 shares of the company’s stock, valued at $1,580,109.66. The disclosure for this purchase can be found here. 0.59% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its stake in Newfield Exploration by 0.8% in the first quarter. BlackRock Inc. now owns 14,075,441 shares of the energy company’s stock worth $343,722,000 after purchasing an additional 113,507 shares during the period. Dimensional Fund Advisors LP grew its stake in Newfield Exploration by 26.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,222,667 shares of the energy company’s stock worth $54,278,000 after purchasing an additional 459,692 shares during the period. Geode Capital Management LLC grew its stake in Newfield Exploration by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 2,163,284 shares of the energy company’s stock worth $68,062,000 after purchasing an additional 67,472 shares during the period. Schroder Investment Management Group grew its stake in Newfield Exploration by 2.8% in the first quarter. Schroder Investment Management Group now owns 2,159,130 shares of the energy company’s stock worth $52,726,000 after purchasing an additional 57,800 shares during the period. Finally, Two Sigma Advisers LP grew its stake in Newfield Exploration by 33.3% in the fourth quarter. Two Sigma Advisers LP now owns 2,041,087 shares of the energy company’s stock worth $64,355,000 after purchasing an additional 509,757 shares during the period. 99.36% of the stock is currently owned by institutional investors.
Newfield Exploration Company Profile
Newfield Exploration Company, an independent energy company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company has operations principally in the Anadarko and Arkoma basins of Oklahoma, the Williston Basin of North Dakota, and the Uinta Basin of Utah.
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