Newfield Exploration Co. (NYSE:NFX) saw a large decline in short interest in March. As of March 15th, there was short interest totalling 10,677,186 shares, a decline of 28.2% from the February 28th total of 14,870,789 shares. Currently, 5.4% of the company’s stock are short sold. Based on an average trading volume of 4,144,191 shares, the days-to-cover ratio is currently 2.6 days.
NFX has been the topic of several research analyst reports. Zacks Investment Research raised Newfield Exploration from a “hold” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a research note on Monday, January 15th. Piper Jaffray reaffirmed a “buy” rating and set a $48.00 target price on shares of Newfield Exploration in a research note on Tuesday, January 9th. KLR Group cut Newfield Exploration from a “buy” rating to a “hold” rating and set a $36.00 price target for the company. in a research note on Tuesday, January 23rd. Morgan Stanley boosted their price target on Newfield Exploration from $33.00 to $37.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Finally, Jefferies Group set a $35.00 price target on Newfield Exploration and gave the company a “buy” rating in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $37.55.
In other Newfield Exploration news, CEO Lee K. Boothby sold 12,000 shares of Newfield Exploration stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $31.84, for a total transaction of $382,080.00. Following the transaction, the chief executive officer now owns 223,235 shares of the company’s stock, valued at approximately $7,107,802.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Roger B. Plank bought 2,000 shares of the stock in a transaction on Wednesday, March 28th. The shares were acquired at an average cost of $23.38 per share, for a total transaction of $46,760.00. Following the purchase, the director now owns 32,787 shares in the company, valued at $766,560.06. The disclosure for this purchase can be found here. Insiders own 0.54% of the company’s stock.
Shares of Newfield Exploration stock opened at $24.42 on Monday. The company has a market cap of $4,877.21, a price-to-earnings ratio of 11.36, a P/E/G ratio of 0.70 and a beta of 1.57. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.91 and a quick ratio of 0.89. Newfield Exploration has a 12-month low of $22.72 and a 12-month high of $37.61.
Newfield Exploration (NYSE:NFX) last announced its earnings results on Tuesday, February 20th. The energy company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. The firm had revenue of $509.00 million during the quarter, compared to analysts’ expectations of $497.95 million. Newfield Exploration had a return on equity of 35.57% and a net margin of 24.17%. The company’s revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. equities analysts predict that Newfield Exploration will post 2.98 EPS for the current fiscal 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.
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