Brokerages Set Newfield Exploration Co. (NFX) Target Price at $38.11

Newfield Exploration Co. (NYSE:NFX) has been given a consensus rating of “Buy” by the twenty-five brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $38.11.

Several brokerages recently commented on NFX. KLR Group cut Newfield Exploration from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a report on Tuesday, January 23rd. Zacks Investment Research cut Newfield Exploration from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 31st. Jefferies Group set a $35.00 target price on Newfield Exploration and gave the stock a “buy” rating in a report on Friday, February 23rd. BMO Capital Markets reissued a “market perform” rating and set a $29.00 target price (down previously from $36.00) on shares of Newfield Exploration in a report on Friday, February 23rd. Finally, Stifel Nicolaus set a $45.00 target price on Newfield Exploration and gave the stock a “buy” rating in a report on Friday, March 2nd.

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In other Newfield Exploration news, insider Lee K. Boothby sold 12,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $31.75, for a total value of $381,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Roger B. Plank acquired 2,000 shares of the stock in a transaction on Wednesday, March 28th. The shares were purchased at an average price of $23.38 per share, for a total transaction of $46,760.00. Following the completion of the transaction, the director now owns 32,787 shares in the company, valued at approximately $766,560.06. The disclosure for this purchase can be found here. 0.54% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of NFX. Comerica Bank grew its position in Newfield Exploration by 5.1% during the 3rd quarter. Comerica Bank now owns 72,647 shares of the energy company’s stock worth $2,186,000 after purchasing an additional 3,552 shares in the last quarter. Macquarie Group Ltd. grew its position in Newfield Exploration by 1.2% during the 3rd quarter. Macquarie Group Ltd. now owns 338,293 shares of the energy company’s stock worth $10,037,000 after purchasing an additional 3,900 shares in the last quarter. D.A. Davidson & CO. grew its position in Newfield Exploration by 28.4% during the 3rd quarter. D.A. Davidson & CO. now owns 11,466 shares of the energy company’s stock worth $340,000 after purchasing an additional 2,534 shares in the last quarter. ING Groep NV grew its position in Newfield Exploration by 68.9% during the 3rd quarter. ING Groep NV now owns 17,215 shares of the energy company’s stock worth $511,000 after purchasing an additional 7,021 shares in the last quarter. Finally, South Dakota Investment Council purchased a new position in Newfield Exploration during the 3rd quarter worth approximately $415,000. Hedge funds and other institutional investors own 99.82% of the company’s stock.

NYSE:NFX opened at $24.42 on Wednesday. Newfield Exploration has a twelve month low of $22.72 and a twelve month high of $37.61. The company has a market cap of $4,877.22, a PE ratio of 10.95, a price-to-earnings-growth ratio of 0.70 and a beta of 1.57. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.73.

Newfield Exploration (NYSE:NFX) last announced its earnings results on Tuesday, February 20th. The energy company reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.11. Newfield Exploration had a return on equity of 35.57% and a net margin of 24.17%. The firm had revenue of $509.00 million for the quarter, compared to analysts’ expectations of $497.95 million. During the same quarter in the previous year, the company earned $0.49 earnings per share. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. analysts anticipate that Newfield Exploration will post 2.98 earnings per share for the current year.

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Newfield Exploration Company Profile

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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