Newfield Exploration Co. (NFX) Receives Average Recommendation of “Hold” from Analysts

Shares of Newfield Exploration Co. (NYSE:NFX) have been given a consensus rating of “Hold” by the twenty-eight ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, sixteen have given a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $34.82.

A number of research firms have issued reports on NFX. BMO Capital Markets restated a “hold” rating and set a $33.00 target price on shares of Newfield Exploration in a research report on Thursday, July 12th. SunTrust Banks cut Newfield Exploration from a “buy” rating to a “hold” rating in a research note on Friday, July 27th. Morgan Stanley upped their price target on Newfield Exploration from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Wednesday, September 26th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $37.00 price target on shares of Newfield Exploration in a research note on Wednesday, July 18th. Finally, Zacks Investment Research cut Newfield Exploration from a “buy” rating to a “hold” rating in a research note on Tuesday, July 17th.

In related news, insider Lee K. Boothby sold 16,161 shares of the stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $29.25, for a total transaction of $472,709.25. Following the completion of the sale, the insider now directly owns 194,420 shares of the company’s stock, valued at approximately $5,686,785. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.59% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. increased its stake in Newfield Exploration by 14.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,152,129 shares of the energy company’s stock worth $34,852,000 after purchasing an additional 149,303 shares in the last quarter. BP PLC bought a new stake in Newfield Exploration during the 2nd quarter worth approximately $787,000. Korea Investment CORP increased its stake in Newfield Exploration by 41.7% during the 2nd quarter. Korea Investment CORP now owns 24,472 shares of the energy company’s stock worth $740,000 after purchasing an additional 7,200 shares in the last quarter. Aperio Group LLC increased its stake in Newfield Exploration by 26.4% during the 2nd quarter. Aperio Group LLC now owns 96,065 shares of the energy company’s stock worth $2,906,000 after purchasing an additional 20,044 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Newfield Exploration by 19.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 235,200 shares of the energy company’s stock worth $7,115,000 after purchasing an additional 38,700 shares in the last quarter. 99.29% of the stock is owned by institutional investors and hedge funds.

Newfield Exploration stock traded down $0.22 during trading hours on Thursday, reaching $21.67. 11,358,900 shares of the company’s stock traded hands, compared to its average volume of 3,769,184. The company has a current ratio of 0.72, a quick ratio of 0.70 and a debt-to-equity ratio of 1.30. Newfield Exploration has a fifty-two week low of $18.67 and a fifty-two week high of $35.20. The company has a market cap of $4.44 billion, a PE ratio of 10.08, a PEG ratio of 0.52 and a beta of 1.65.

Newfield Exploration (NYSE:NFX) last released its earnings results on Wednesday, October 31st. The energy company reported $1.01 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $661.27 million. During the same period in the prior year, the company posted $0.52 EPS. The company’s revenue was up 62.0% compared to the same quarter last year. Research analysts forecast that Newfield Exploration will post 3.59 EPS for the current year.

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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Analyst Recommendations for Newfield Exploration (NYSE:NFX)

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