Piper Jaffray Companies reissued their buy rating on shares of Newfield Exploration (NYSE:NFX) in a research note issued to investors on Tuesday. Piper Jaffray Companies currently has a $48.00 price objective on the energy company’s stock.
A number of other analysts also recently weighed in on the stock. Bank of America raised shares of Newfield Exploration from a neutral rating to a buy rating and set a $46.00 price target for the company in a report on Thursday, January 4th. Jefferies Group set a $40.00 price target on shares of Newfield Exploration and gave the company a buy rating in a report on Wednesday, December 20th. Seaport Global Securities raised shares of Newfield Exploration from a sell rating to a neutral rating in a report on Tuesday, December 19th. JPMorgan Chase & Co. downgraded shares of Newfield Exploration from an overweight rating to a neutral rating and set a $37.00 price target for the company. in a report on Friday, December 15th. Finally, Credit Suisse Group assumed coverage on shares of Newfield Exploration in a report on Monday, December 11th. They issued a neutral rating and a $30.00 price target for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. Newfield Exploration currently has a consensus rating of Buy and a consensus target price of $38.59.
Newfield Exploration (NFX) traded up $0.15 during trading hours on Tuesday, reaching $34.75. 2,040,600 shares of the company were exchanged, compared to its average volume of 2,735,211. Newfield Exploration has a 1-year low of $24.41 and a 1-year high of $43.74. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 1.87. The firm has a market cap of $6,910.00, a price-to-earnings ratio of 20.09, a PEG ratio of 1.37 and a beta of 1.45.
Newfield Exploration (NYSE:NFX) last posted its earnings results on Tuesday, October 31st. The energy company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. Newfield Exploration had a net margin of 20.62% and a return on equity of 35.28%. The business had revenue of $439.00 million for the quarter, compared to analyst estimates of $419.75 million. During the same period last year, the business posted $0.45 EPS. Newfield Exploration’s revenue was up 12.0% compared to the same quarter last year. equities analysts anticipate that Newfield Exploration will post 2.14 EPS for the current fiscal year.
In related news, Director Juanita F. Romans sold 3,500 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $30.02, for a total transaction of $105,070.00. Following the completion of the sale, the director now owns 39,034 shares in the company, valued at approximately $1,171,800.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lee K. Boothby sold 12,000 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $31.30, for a total transaction of $375,600.00. Following the sale, the insider now owns 243,322 shares of the company’s stock, valued at approximately $7,615,978.60. The disclosure for this sale can be found here. Insiders have sold a total of 39,500 shares of company stock valued at $1,243,150 over the last ninety days. 0.54% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. increased its position in shares of Newfield Exploration by 8.5% during the 2nd quarter. Pacer Advisors Inc. now owns 4,059 shares of the energy company’s stock worth $116,000 after purchasing an additional 319 shares in the last quarter. Tiedemann Wealth Management LLC increased its position in shares of Newfield Exploration by 36.0% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 28,966 shares of the energy company’s stock worth $148,000 after purchasing an additional 7,664 shares in the last quarter. Riverhead Capital Management LLC increased its position in shares of Newfield Exploration by 17.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 6,922 shares of the energy company’s stock worth $197,000 after purchasing an additional 1,013 shares in the last quarter. Koch Industries Inc. acquired a new stake in shares of Newfield Exploration during the 2nd quarter worth about $209,000. Finally, Vident Investment Advisory LLC acquired a new stake in shares of Newfield Exploration during the 3rd quarter worth about $212,000. Institutional investors and hedge funds own 99.71% of the company’s stock.
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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