Newfield Exploration Company (NYSE:NFX) received a $37.00 price objective from analysts at SunTrust Banks, Inc. in a research report issued to clients and investors on Tuesday. The firm currently has a “buy” rating on the energy company’s stock. SunTrust Banks, Inc.’s price objective suggests a potential upside of 20.17% from the company’s current price.
Several other research firms also recently weighed in on NFX. Barclays PLC reissued an “equal weight” rating and issued a $22.00 price target (down from $23.00) on shares of Newfield Exploration in a research note on Wednesday, August 9th. Williams Capital set a $45.00 price target on shares of Newfield Exploration and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Cowen and Company set a $35.00 price objective on shares of Newfield Exploration and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Jefferies Group LLC restated a “buy” rating and set a $39.00 price objective on shares of Newfield Exploration in a research report on Thursday, October 12th. Finally, Zacks Investment Research upgraded shares of Newfield Exploration from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the stock. Newfield Exploration has an average rating of “Buy” and an average price target of $39.31.
Shares of Newfield Exploration (NFX) traded up 0.471% during mid-day trading on Tuesday, reaching $30.935. 5,549,826 shares of the company’s stock were exchanged. Newfield Exploration has a 1-year low of $24.41 and a 1-year high of $50.00. The company’s 50 day moving average is $29.25 and its 200 day moving average is $29.45. The stock has a market capitalization of $6.11 billion, a PE ratio of 20.062 and a beta of 1.53.
Newfield Exploration (NYSE:NFX) last posted its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.09. The firm had revenue of $439.00 million for the quarter, compared to the consensus estimate of $419.75 million. Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the firm posted $0.45 earnings per share. Equities research analysts anticipate that Newfield Exploration will post $1.93 EPS for the current fiscal year.
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In other Newfield Exploration news, Director Roger B. Plank acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average price of $25.98 per share, for a total transaction of $77,940.00. Following the completion of the acquisition, the director now owns 30,787 shares of the company’s stock, valued at approximately $799,846.26. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lee K. Boothby sold 12,000 shares of Newfield Exploration stock in a transaction that occurred on 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. Insiders own 0.54% of the company’s stock.
Several hedge funds have recently made changes to their positions in NFX. PNC Financial Services Group Inc. grew its holdings in shares of Newfield Exploration by 29.1% in the first quarter. PNC Financial Services Group Inc. now owns 15,980 shares of the energy company’s stock valued at $590,000 after purchasing an additional 3,602 shares in the last quarter. Thrivent Financial For Lutherans grew its holdings in shares of Newfield Exploration by 5.5% in the first quarter. Thrivent Financial For Lutherans now owns 7,300 shares of the energy company’s stock valued at $269,000 after purchasing an additional 380 shares in the last quarter. Morgan Stanley grew its holdings in shares of Newfield Exploration by 76.5% in the first quarter. Morgan Stanley now owns 681,692 shares of the energy company’s stock valued at $25,161,000 after purchasing an additional 295,510 shares in the last quarter. Gotham Asset Management LLC acquired a new position in shares of Newfield Exploration in the first quarter valued at approximately $905,000. Finally, HighTower Advisors LLC grew its holdings in shares of Newfield Exploration by 6.5% in the first quarter. HighTower Advisors LLC now owns 19,406 shares of the energy company’s stock valued at $715,000 after purchasing an additional 1,187 shares in the last quarter. Hedge funds and other 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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