Newfield Exploration (NFX) Shares Gap Up to $30.73

Newfield Exploration Co. (NYSE:NFX) shares gapped up prior to trading on Monday . The stock had previously closed at $31.09, but opened at $30.73. Newfield Exploration shares last traded at $29.82, with a volume of 112237 shares.

NFX has been the topic of a number of research analyst reports. Stifel Nicolaus set a $45.00 price target on shares of Newfield Exploration and gave the stock a “buy” rating in a report on Friday, March 2nd. Deutsche Bank initiated coverage on shares of Newfield Exploration in a report on Wednesday, April 4th. They issued a “hold” rating and a $32.00 price target on the stock. UBS Group initiated coverage on shares of Newfield Exploration in a report on Wednesday, March 7th. They issued a “buy” rating and a $30.00 price target on the stock. Tudor Pickering cut shares of Newfield Exploration from a “buy” rating to a “hold” rating in a report on Thursday, May 10th. Finally, Jefferies Financial Group set a $34.00 price target on shares of Newfield Exploration and gave the stock a “buy” rating in a report on Monday, March 19th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the stock. Newfield Exploration has a consensus rating of “Buy” and a consensus price target of $37.76.

The stock has a market cap of $6.14 billion, a P/E ratio of 14.06, a PEG ratio of 0.75 and a beta of 1.48. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.74 and a current ratio of 0.77.

Newfield Exploration (NYSE:NFX) last released its quarterly earnings results on Tuesday, May 1st. The energy company reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.08. The business had revenue of $580.00 million during the quarter, compared to analyst estimates of $552.56 million. Newfield Exploration had a net margin of 18.96% and a return on equity of 36.67%. The company’s quarterly revenue was up 39.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 earnings per share. analysts anticipate that Newfield Exploration Co. will post 3.3 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. EnTrustPermal Partners Offshore LP purchased a new stake in shares of Newfield Exploration during the fourth quarter valued at about $1,936,000. Meadow Creek Investment Management LLC lifted its position in shares of Newfield Exploration by 145.1% during the 4th quarter. Meadow Creek Investment Management LLC now owns 208,656 shares of the energy company’s stock valued at $6,579,000 after buying an additional 123,536 shares in the last quarter. Zeke Capital Advisors LLC lifted its position in shares of Newfield Exploration by 103.5% during the 4th quarter. Zeke Capital Advisors LLC now owns 17,660 shares of the energy company’s stock valued at $557,000 after buying an additional 8,982 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Newfield Exploration by 45.9% during the 4th quarter. First Trust Advisors LP now owns 355,883 shares of the energy company’s stock valued at $11,221,000 after buying an additional 112,044 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of Newfield Exploration by 1.5% during 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 in the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

About Newfield Exploration

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.

Receive News & Ratings for Newfield Exploration Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newfield Exploration and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply