BMO Capital Markets Reaffirms Hold Rating for Newfield Exploration (NFX)
Newfield Exploration (NYSE:NFX)‘s stock had its “hold” rating reaffirmed by research analysts at BMO Capital Markets in a report released on Sunday. They presently have a $36.00 target price on the energy company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 3.60% from the stock’s previous close.
A number of other analysts have also recently weighed in on NFX. Piper Jaffray Companies reduced their target price on shares of Newfield Exploration from $53.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, September 18th. Stifel Nicolaus set a $37.00 target price on shares of Newfield Exploration and gave the stock a “buy” rating in a report on Thursday, October 5th. Barclays raised their target price on shares of Newfield Exploration from $22.00 to $25.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 11th. Jefferies Group restated a “buy” rating and set a $39.00 target price on shares of Newfield Exploration in a report on Thursday, October 12th. Finally, KeyCorp restated a “hold” rating on shares of Newfield Exploration in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $39.05.
Shares of Newfield Exploration (NFX) opened at $34.75 on Friday. The firm has a market cap of $6,940.00, a P/E ratio of 20.09, a P/E/G ratio of 1.40 and a beta of 1.45. Newfield Exploration has a 1-year low of $24.41 and a 1-year high of $43.74. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 1.87.
Newfield Exploration (NYSE:NFX) last issued its earnings results on Tuesday, October 31st. The energy company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.09. The firm had revenue of $439.00 million during the quarter, compared to analysts’ expectations of $419.75 million. Newfield Exploration had a net margin of 20.62% and a return on equity of 35.28%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the firm posted $0.45 earnings per share. equities research analysts predict that Newfield Exploration will post 2.14 EPS for the current fiscal year.
In other Newfield Exploration news, Director Juanita F. Romans sold 3,500 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $30.02, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Lee K. Boothby sold 12,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $31.70, for a total transaction of $380,400.00. Following the completion of the sale, the chief executive officer now owns 255,322 shares of the company’s stock, valued at approximately $8,093,707.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,500 shares of company stock valued at $1,243,150. 0.54% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Newfield Exploration by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 23,677,528 shares of the energy company’s stock worth $673,862,000 after buying an additional 760,793 shares in the last quarter. BlackRock Inc. lifted its position in Newfield Exploration by 0.4% in the 2nd quarter. BlackRock Inc. now owns 13,843,741 shares of the energy company’s stock worth $393,993,000 after buying an additional 55,230 shares in the last quarter. State Street Corp lifted its position in Newfield Exploration by 5.6% in the 2nd quarter. State Street Corp now owns 12,109,780 shares of the energy company’s stock worth $344,646,000 after buying an additional 638,807 shares in the last quarter. FMR LLC lifted its position in Newfield Exploration by 9.9% in the 2nd quarter. FMR LLC now owns 10,459,662 shares of the energy company’s stock worth $297,683,000 after buying an additional 938,740 shares in the last quarter. Finally, Boston Partners lifted its position in Newfield Exploration by 0.9% in the 3rd quarter. Boston Partners now owns 5,627,037 shares of the energy company’s stock worth $166,954,000 after buying an additional 51,835 shares in the last quarter. Institutional investors own 99.67% 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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