BMO Capital Markets Reaffirms “Buy” Rating for Newfield Exploration Company (NFX)
BMO Capital Markets reissued their buy rating on shares of Newfield Exploration Company (NYSE:NFX) in a report released on Friday. BMO Capital Markets currently has a $34.00 price target on the energy company’s stock.
Several other equities research analysts have also recently commented on the company. Barclays PLC dropped their target price on Newfield Exploration from $23.00 to $22.00 and set an equal weight rating on the stock in a report on Thursday. Williams Capital set a $45.00 target price on Newfield Exploration and gave the stock a buy rating in a report on Wednesday, August 2nd. BidaskClub raised Newfield Exploration from a strong sell rating to a sell rating in a report on Monday, July 31st. Zacks Investment Research cut Newfield Exploration from a hold rating to a sell rating in a report on Tuesday, July 25th. Finally, Citigroup Inc. dropped their target price on Newfield Exploration from $50.00 to $36.00 and set a buy rating on the stock in a report on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $43.46.
Shares of Newfield Exploration (NFX) traded down 5.03% during mid-day trading on Friday, reaching $26.43. The company’s stock had a trading volume of 2,590,978 shares. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of 17.14 and a beta of 1.48. The company’s 50 day moving average price is $27.84 and its 200-day moving average price is $34.15. Newfield Exploration has a 1-year low of $25.46 and a 1-year high of $50.00.
Newfield Exploration (NYSE:NFX) last announced its earnings results on Tuesday, August 1st. The energy company reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.01. Newfield Exploration had a return on equity of 33.17% and a net margin of 18.82%. The firm had revenue of $402 million for the quarter, compared to the consensus estimate of $413.70 million. During the same period in the previous year, the firm earned $0.32 EPS. Newfield Exploration’s revenue for the quarter was up 5.5% on a year-over-year basis. Analysts predict that Newfield Exploration will post $1.93 earnings per share for the current fiscal year.
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Institutional investors have recently bought and sold shares of the stock. Caisse DE Depot ET Placement DU Quebec boosted its position in Newfield Exploration by 3.5% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 32,700 shares of the energy company’s stock valued at $1,208,000 after buying an additional 1,100 shares in the last quarter. Suntrust Banks Inc. bought a new position in Newfield Exploration during the first quarter valued at approximately $423,000. Cipher Capital LP boosted its position in Newfield Exploration by 13.8% in the first quarter. Cipher Capital LP now owns 36,718 shares of the energy company’s stock valued at $1,355,000 after buying an additional 4,458 shares in the last quarter. ARP Americas LLC bought a new position in Newfield Exploration during the first quarter valued at approximately $214,000. Finally, World Asset Management Inc boosted its position in Newfield Exploration by 13.0% in the first quarter. World Asset Management Inc now owns 20,870 shares of the energy company’s stock valued at $770,000 after buying an additional 2,407 shares in the last quarter. Institutional investors and hedge funds own 99.05% of the company’s stock.
About Newfield Exploration
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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