Citigroup cut shares of Newfield Exploration (NYSE:NFX) from a buy rating to a neutral rating in a research note released on Friday, The Fly reports. They currently have $24.00 price target on the energy company’s stock, down from their previous price target of $36.00.
A number of other research analysts also recently issued reports on NFX. Seaport Global Securities reiterated a buy rating on shares of Newfield Exploration in a research note 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 research note on Thursday, July 12th. Zacks Investment Research downgraded shares of Newfield Exploration from a buy rating to a hold rating in a research note on Tuesday, July 24th. UBS Group downgraded shares of Newfield Exploration from a positive rating to a neutral rating in a research note on Friday. Finally, SunTrust Banks downgraded shares of Newfield Exploration from a buy rating to a hold rating in a research report on Friday, July 27th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $35.81.
Newfield Exploration stock traded up $0.38 during trading on Friday, reaching $22.25. The stock had a trading volume of 3,266,755 shares, compared to its average volume of 6,404,314. Newfield Exploration has a 52-week low of $18.67 and a 52-week 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. The company has a market capitalization of $4.38 billion, a P/E ratio of 10.35, a P/E/G ratio of 0.52 and a beta of 1.65.
Newfield Exploration (NYSE:NFX) last issued its quarterly earnings results on Wednesday, October 31st. The energy company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.15. Newfield Exploration had a net margin of 21.14% and a return on equity of 43.65%. The company had revenue of $711.00 million during the quarter, compared to the consensus estimate of $661.27 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The firm’s quarterly revenue was up 62.0% on a year-over-year basis. As a group, research analysts anticipate that Newfield Exploration will post 3.55 earnings per share for the current fiscal year.
In other news, insider Lee K. Boothby sold 16,161 shares of Newfield Exploration stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $29.25, for a total value of $472,709.25. Following the transaction, the insider now directly owns 194,420 shares of the company’s stock, valued at approximately $5,686,785. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.59% of the company’s stock.
Several institutional investors have recently made changes to their positions in NFX. The Manufacturers Life Insurance Company increased its holdings in shares of Newfield Exploration by 4.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 236,171 shares of the energy company’s stock valued at $5,768,000 after acquiring an additional 9,944 shares during the period. LPL Financial LLC increased its holdings in shares of Newfield Exploration by 52.2% in the 1st quarter. LPL Financial LLC now owns 36,163 shares of the energy company’s stock valued at $883,000 after acquiring an additional 12,408 shares during the period. Principal Financial Group Inc. increased its stake in Newfield Exploration by 5.5% in the 1st quarter. Principal Financial Group Inc. now owns 308,756 shares of the energy company’s stock valued at $7,540,000 after buying an additional 15,965 shares during the period. IFM Investors Pty Ltd acquired a new position in Newfield Exploration in the 2nd quarter valued at $293,000. Finally, Fisher Asset Management LLC acquired a new position in Newfield Exploration in the 2nd quarter valued at $7,039,000. 99.29% of the stock is currently owned by institutional investors and hedge funds.
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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