Newfield Exploration Company (NYSE:NFX) was downgraded by investment analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Friday. They currently have a $32.00 price objective on the energy company’s stock. BMO Capital Markets’ price target would indicate a potential upside of 7.45% from the stock’s previous close.
NFX has been the subject of several other reports. Jefferies Group LLC reissued a “buy” rating and issued a $46.00 price objective on shares of Newfield Exploration in a report on Thursday, July 6th. Barclays PLC boosted their price objective on Newfield Exploration from $22.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday. Zacks Investment Research lowered Newfield Exploration from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Citigroup Inc. lowered their price objective on Newfield Exploration from $50.00 to $36.00 and set a “buy” rating for the company in a report on Friday, July 21st. Finally, J P Morgan Chase & Co reissued an “overweight” rating and issued a $36.00 price objective (down from $40.00) on shares of Newfield Exploration in a report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. Newfield Exploration presently has an average rating of “Buy” and an average price target of $41.14.
Shares of Newfield Exploration (NYSE NFX) opened at 29.78 on Friday. The firm’s 50-day moving average price is $27.87 and its 200 day moving average price is $30.12. Newfield Exploration has a one year low of $24.41 and a one year high of $50.00. The stock has a market cap of $5.88 billion, a P/E ratio of 19.31 and a beta of 1.53.
Newfield Exploration (NYSE:NFX) last announced its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.01). The firm had revenue of $402.00 million during the quarter, compared to the consensus estimate of $413.70 million. Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. Equities research analysts expect that Newfield Exploration will post $1.89 EPS for the current fiscal year.
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In related news, insider Lee K. Boothby sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $26.18, for a total transaction of $314,160.00. Following the sale, the insider now owns 279,322 shares of the company’s stock, valued at $7,312,649.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Roger B. Plank bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average cost of $25.98 per share, for a total transaction of $77,940.00. Following the acquisition, the director now owns 30,787 shares of the company’s stock, valued at $799,846.26. The disclosure for this purchase can be found here. 0.54% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in NFX. Pacer Advisors Inc. increased its holdings in shares of Newfield Exploration by 8.5% in the second quarter. Pacer Advisors Inc. now owns 4,059 shares of the energy company’s stock valued at $116,000 after buying an additional 319 shares in the last quarter. Global X Management Co. LLC increased its holdings in shares of Newfield Exploration by 30.5% in the first quarter. Global X Management Co. LLC now owns 3,311 shares of the energy company’s stock valued at $122,000 after buying an additional 774 shares in the last quarter. Dupont Capital Management Corp bought a new position in shares of Newfield Exploration in the second quarter valued at $131,000. Ameritas Investment Partners Inc. bought a new position in shares of Newfield Exploration in the first quarter valued at $175,000. Finally, Riverhead Capital Management LLC increased its holdings in shares of Newfield Exploration by 17.1% in the second quarter. Riverhead Capital Management LLC now owns 6,922 shares of the energy company’s stock valued at $197,000 after buying an additional 1,013 shares in the last quarter. 99.15% of the stock is currently owned by hedge funds and other institutional investors.
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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