Piper Jaffray Companies Reaffirms “Buy” Rating for Newfield Exploration (NFX)

Newfield Exploration (NYSE:NFX)‘s stock had its “buy” rating reaffirmed by equities research analysts at Piper Jaffray Companies in a research note issued to investors on Tuesday. They presently have a $48.00 target price on the energy company’s stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 38.13% from the stock’s current price.

NFX has been the topic of several other reports. Credit Suisse Group assumed coverage on shares of Newfield Exploration in a report on Monday, December 11th. They issued a “neutral” rating and a $30.00 target price on the stock. BMO Capital Markets set a $34.00 target price on shares of Newfield Exploration and gave the company a “buy” rating in a report on Tuesday, October 10th. Zacks Investment Research lowered shares of Newfield Exploration from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Wolfe Research lowered shares of Newfield Exploration from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 5th. Finally, KeyCorp reissued a “hold” rating on shares of Newfield Exploration in a report on Monday, November 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $38.59.

Newfield Exploration (NYSE:NFX) traded up $0.15 during mid-day trading on Tuesday, reaching $34.75. 2,040,600 shares of the company’s stock traded hands, compared to its average volume of 2,735,211. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 1.87. Newfield Exploration has a 52-week low of $24.41 and a 52-week high of $43.74. The company has a market cap of $6,910.00, a price-to-earnings ratio of 20.09, a P/E/G ratio of 1.37 and a beta of 1.45.

Newfield Exploration (NYSE:NFX) last released its earnings results on Tuesday, October 31st. The energy company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.43 by $0.09. Newfield Exploration had a net margin of 20.62% and a return on equity of 35.28%. The firm had revenue of $439.00 million for the quarter, compared to analyst estimates of $419.75 million. During the same period last year, the firm earned $0.45 EPS. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. equities research analysts forecast that Newfield Exploration will post 2.14 EPS for the current fiscal year.

In related news, Director Juanita F. Romans sold 3,500 shares of Newfield Exploration stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $30.02, for a total transaction of $105,070.00. Following the sale, the director now directly owns 39,034 shares of the company’s stock, valued at approximately $1,171,800.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lee K. Boothby sold 12,000 shares of Newfield Exploration stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $31.30, for a total transaction of $375,600.00. Following the sale, the insider now directly owns 243,322 shares in the company, valued at $7,615,978.60. The disclosure for this sale can be found here. Insiders have sold a total of 39,500 shares of company stock worth $1,243,150 over the last ninety days. 0.54% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. Pacer Advisors Inc. boosted its position in Newfield Exploration by 8.5% during the 2nd quarter. Pacer Advisors Inc. now owns 4,059 shares of the energy company’s stock worth $116,000 after buying an additional 319 shares during the period. Tiedemann Wealth Management LLC boosted its position in Newfield Exploration by 36.0% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 28,966 shares of the energy company’s stock worth $148,000 after buying an additional 7,664 shares during the period. Riverhead Capital Management LLC boosted its position in Newfield Exploration by 17.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 6,922 shares of the energy company’s stock worth $197,000 after buying an additional 1,013 shares during the period. Koch Industries Inc. acquired a new stake in Newfield Exploration during the 2nd quarter worth approximately $209,000. Finally, Vident Investment Advisory LLC acquired a new stake in Newfield Exploration during the 3rd quarter worth approximately $212,000. Institutional investors and hedge funds own 99.71% of the company’s stock.

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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.

Analyst Recommendations for Newfield Exploration (NYSE:NFX)

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