Analysts Set Newfield Exploration Co. (NFX) PT at $34.82

Newfield Exploration Co. (NYSE:NFX) has earned an average rating of “Hold” from the twenty-eight research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, sixteen have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $34.82.

Several brokerages have weighed in on NFX. Citigroup downgraded Newfield Exploration from a “buy” rating to a “neutral” rating and cut their target price for the company from $36.00 to $24.00 in a research note on Friday, November 2nd. Seaport Global Securities reaffirmed a “buy” rating on shares of Newfield Exploration in a research note on Wednesday, July 25th. Zacks Investment Research downgraded Newfield Exploration from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Morgan Stanley cut their target price on Newfield Exploration from $31.00 to $23.00 and set a “hold” rating on the stock in a research note on Monday, November 5th. Finally, SunTrust Banks downgraded Newfield Exploration from a “buy” rating to a “hold” rating in a research note on Friday, July 27th.

Shares of Newfield Exploration stock opened at $21.83 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.70 and a current ratio of 0.72. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 0.51 and a beta of 1.65. Newfield Exploration has a 1-year low of $18.67 and a 1-year high of $35.20.

Newfield Exploration (NYSE:NFX) last announced its earnings results on Wednesday, October 31st. The energy company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.15. The firm had revenue of $711.00 million for the quarter, compared to the consensus estimate of $661.27 million. Newfield Exploration had a return on equity of 43.65% and a net margin of 21.14%. The firm’s revenue for the quarter was up 62.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. On average, research analysts forecast that Newfield Exploration will post 3.59 EPS for the current fiscal year.

In other news, insider Lee K. Boothby sold 16,161 shares of the business’s stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $29.25, for a total value of $472,709.25. Following the sale, the insider now 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 Securities & Exchange Commission, which can be accessed through this link. 0.59% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of NFX. Janney Montgomery Scott LLC raised its position in shares of Newfield Exploration by 11.6% during the second quarter. Janney Montgomery Scott LLC now owns 17,639 shares of the energy company’s stock worth $534,000 after purchasing an additional 1,835 shares during the period. 180 Wealth Advisors LLC raised its position in shares of Newfield Exploration by 13.0% during the second quarter. 180 Wealth Advisors LLC now owns 20,136 shares of the energy company’s stock worth $609,000 after purchasing an additional 2,316 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Newfield Exploration by 5.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 57,663 shares of the energy company’s stock worth $1,744,000 after purchasing an additional 2,881 shares during the period. Norinchukin Bank The raised its position in shares of Newfield Exploration by 13.6% during the third quarter. Norinchukin Bank The now owns 25,706 shares of the energy company’s stock worth $741,000 after purchasing an additional 3,078 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of Newfield Exploration by 6.6% during the third quarter. State of Alaska Department of Revenue now owns 50,486 shares of the energy company’s stock worth $1,455,000 after purchasing an additional 3,106 shares during the period. 99.29% of the stock is currently owned by institutional investors.

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.

Further Reading: Asset Allocation, Balancing Your Investments

Analyst Recommendations for Newfield Exploration (NYSE:NFX)

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