Edward Jones lowered shares of Newfield Exploration (NYSE:NFX) to a hold rating in a research note issued to investors on Friday.
Several other analysts have also recently weighed in on NFX. Citigroup cut shares of Newfield Exploration from a buy rating to a neutral rating and cut their price target for the company from $36.00 to $24.00 in a report on Friday. Seaport Global Securities reiterated a buy rating on shares of Newfield Exploration in a report on Wednesday, July 25th. BMO Capital Markets reiterated a hold rating and issued a $33.00 price target on shares of Newfield Exploration in a report on Thursday, July 12th. Zacks Investment Research cut shares of Newfield Exploration from a buy rating to a hold rating in a report on Tuesday, July 24th. Finally, UBS Group cut shares of Newfield Exploration from a positive rating to a neutral rating in a report on Friday. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $35.81.
Shares of NYSE NFX traded down $1.59 during mid-day trading on Friday, hitting $21.87. The stock had a trading volume of 17,282,848 shares, compared to its average volume of 5,679,624. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 6.28, a PEG ratio of 0.50 and a beta of 1.65. Newfield Exploration has a 1 year low of $18.67 and a 1 year high of $35.20. The company has a quick ratio of 0.70, a current ratio of 0.72 and a debt-to-equity ratio of 1.30.
Newfield Exploration (NYSE:NFX) last released its quarterly earnings results on Wednesday, October 31st. The energy company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.15. The business had revenue of $711.00 million for the quarter, compared to analysts’ expectations of $661.27 million. Newfield Exploration had a net margin of 21.14% and a return on equity of 43.65%. The firm’s revenue for the quarter was up 62.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 earnings per share. Equities research analysts anticipate that Newfield Exploration will post 3.55 earnings per share for the current year.
In other news, insider Lee K. Boothby sold 16,161 shares of the business’s stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $29.25, for a total transaction of $472,709.25. Following the sale, the insider now owns 194,420 shares in the company, valued at approximately $5,686,785. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.59% of the company’s stock.
Several hedge funds have recently made changes to their positions in NFX. LSV Asset Management boosted its holdings in shares of Newfield Exploration by 604.9% during the 2nd quarter. LSV Asset Management now owns 5,569,375 shares of the energy company’s stock valued at $168,473,000 after buying an additional 4,779,275 shares in the last quarter. BlueMountain Capital Management LLC bought a new position in Newfield Exploration in the 2nd quarter worth about $66,428,000. Scout Investments Inc. boosted its stake in Newfield Exploration by 153.8% in the 2nd quarter. Scout Investments Inc. now owns 2,700,782 shares of the energy company’s stock worth $81,699,000 after purchasing an additional 1,636,795 shares in the last quarter. Carillon Tower Advisers Inc. boosted its stake in Newfield Exploration by 167.8% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 1,736,992 shares of the energy company’s stock worth $52,544,000 after purchasing an additional 1,088,350 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in Newfield Exploration in the 2nd quarter worth about $30,365,000. Hedge funds and other institutional investors own 99.29% of the company’s stock.
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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