Newfield Exploration Company (NYSE:NFX)’s share price traded down 5.4% on Friday . The company traded as low as $24.47 and last traded at $24.80. 3,485,100 shares traded hands during trading, an increase of 4% from the average session volume of 3,359,590 shares. The stock had previously closed at $26.22.

A number of equities analysts recently weighed in on the stock. Jefferies Group LLC set a $40.00 price objective on shares of Newfield Exploration and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Royal Bank Of Canada set a $42.00 price objective on shares of Newfield Exploration and gave the stock a “buy” rating in a research report on Thursday, August 24th. Stifel Nicolaus set a $37.00 price objective on shares of Newfield Exploration and gave the stock a “buy” rating in a research report on Friday, August 18th. BidaskClub cut shares of Newfield Exploration from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Finally, Zacks Investment Research raised shares of Newfield Exploration from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Newfield Exploration currently has a consensus rating of “Buy” and an average target price of $42.50.

The stock has a market cap of $4.90 billion, a price-to-earnings ratio of 16.08 and a beta of 1.49. The firm’s 50 day moving average price is $26.25 and its 200 day moving average price is $31.29.

Newfield Exploration (NYSE:NFX) last announced its earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.44 by $0.01. The firm had revenue of $402 million during the quarter, compared to analysts’ expectations of $413.70 million. Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. Newfield Exploration’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 earnings per share. Equities research analysts anticipate that Newfield Exploration Company will post $1.87 earnings per share for the current fiscal year.

In related news, Director Roger B. Plank purchased 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average cost of $25.98 per share, with a total value of $77,940.00. Following the completion of the acquisition, the director now directly owns 30,787 shares of the company’s stock, valued at approximately $799,846.26. The transaction 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 company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $26.18, for a total transaction of $314,160.00. Following the completion of the sale, the insider now directly owns 279,322 shares in the company, valued at $7,312,649.96. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its holdings in 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 acquiring an additional 319 shares in the last quarter. Global X Management Co. LLC raised its holdings in 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 acquiring an additional 774 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in Newfield Exploration in the second quarter valued at $131,000. Ameritas Investment Partners Inc. acquired a new stake in Newfield Exploration in the first quarter valued at $175,000. Finally, Riverhead Capital Management LLC raised its holdings in 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 acquiring an additional 1,013 shares in the last quarter. 99.15% of the stock is currently owned by hedge funds and other institutional investors.

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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.