Newfield Exploration Company (NYSE:NFX) had its price objective boosted by equities research analysts at Barclays PLC from $22.00 to $25.00 in a note issued to investors on Wednesday. The firm currently has an “equal weight” rating on the energy company’s stock. Barclays PLC’s price objective points to a potential downside of 17.11% from the company’s current price.
Several other analysts also recently weighed in on the stock. Jefferies Group LLC set a $40.00 price target on shares of Newfield Exploration and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Citigroup Inc. lowered their price target on shares of Newfield Exploration from $50.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Scotiabank reissued a “buy” rating and issued a $39.00 price target on shares of Newfield Exploration in a research note on Friday, June 30th. Cowen and Company set a $35.00 price target on shares of Newfield Exploration and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Finally, BidaskClub downgraded shares of Newfield Exploration from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $41.28.
Newfield Exploration (NFX) traded down 0.36% during mid-day trading on Wednesday, reaching $30.05. The company had a trading volume of 871,395 shares. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of 17.37 and a beta of 1.53. Newfield Exploration has a 12-month low of $24.41 and a 12-month high of $50.00. The firm has a 50-day moving average price of $27.58 and a 200 day moving average price of $30.13.
Newfield Exploration (NYSE:NFX) last posted its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.01). The business had revenue of $402.00 million during the quarter, compared to the consensus estimate of $413.70 million. Newfield Exploration had a return on equity of 33.17% and a net margin of 18.82%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 earnings per share. Analysts expect that Newfield Exploration will post $1.89 EPS for the current year.
In related news, Director Roger B. Plank purchased 3,000 shares of Newfield Exploration stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $25.98 per share, for a total transaction of $77,940.00. Following the completion of the transaction, the director now directly owns 30,787 shares of the company’s stock, valued at $799,846.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lee K. Boothby sold 12,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $29.10, for a total transaction of $349,200.00. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Newfield Exploration by 3.5% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 32,700 shares of the energy company’s stock valued at $1,208,000 after buying an additional 1,100 shares during the period. Schroder Investment Management Group increased its position in shares of Newfield Exploration by 67.3% during the second quarter. Schroder Investment Management Group now owns 1,236,114 shares of the energy company’s stock valued at $35,353,000 after buying an additional 497,431 shares during the period. Atlantic Trust Group LLC increased its position in shares of Newfield Exploration by 22.8% during the second quarter. Atlantic Trust Group LLC now owns 253,908 shares of the energy company’s stock valued at $7,226,000 after buying an additional 47,194 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Newfield Exploration by 21.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,229 shares of the energy company’s stock valued at $1,458,000 after buying an additional 8,972 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Newfield Exploration by 106.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 144,732 shares of the energy company’s stock valued at $4,119,000 after buying an additional 74,768 shares during the period. Institutional investors own 99.15% of the company’s stock.
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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