Scotiabank set a $46.00 price objective on Newfield Exploration Co. (NYSE:NFX) in a research report report published on Monday. The brokerage currently has a buy rating on the energy company’s stock.
A number of other brokerages also recently weighed in on NFX. Vetr raised Newfield Exploration from a strong sell rating to a buy rating and set a $48.08 price target on the stock in a research report on Monday, December 5th. Wells Fargo & Co downgraded Newfield Exploration from an outperform rating to a market perform rating in a research report on Friday, December 16th. Zacks Investment Research downgraded Newfield Exploration from a buy rating to a hold rating in a research report on Thursday, January 26th. Barclays PLC lowered their price target on Newfield Exploration from $40.00 to $39.00 and set an equal weight rating on the stock in a research report on Thursday, January 26th. Finally, Canaccord Genuity set a $50.00 price target on Newfield Exploration and gave the stock a buy rating in a research report on Thursday, January 12th. Seven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $50.24.
Shares of Newfield Exploration (NYSE:NFX) traded up 3.16% during trading on Monday, hitting $35.54. The stock had a trading volume of 2,323,870 shares. The stock’s market capitalization is $7.01 billion. The stock’s 50-day moving average is $37.31 and its 200-day moving average is $41.04. Newfield Exploration has a 12-month low of $30.88 and a 12-month high of $50.00.
Newfield Exploration (NYSE:NFX) last announced its quarterly earnings results on Tuesday, February 21st. The energy company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.12. The firm had revenue of $415 million for the quarter, compared to the consensus estimate of $397.74 million. Newfield Exploration had a positive return on equity of 12.41% and a negative net margin of 134.32%. The business’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($4.06) earnings per share. Analysts predict that Newfield Exploration will post $2.03 EPS for the current fiscal year.
In related news, Director James Kent Wells purchased 3,000 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was acquired at an average cost of $36.94 per share, for a total transaction of $110,820.00. Following the completion of the purchase, the director now owns 11,563 shares in the company, valued at approximately $427,137.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lee K. Boothby sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 28th. The shares were sold at an average price of $41.72, for a total value of $1,251,600.00. Following the completion of the sale, the insider now owns 260,162 shares of the company’s stock, valued at $10,853,958.64. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.
Several large investors have recently modified their holdings of NFX. Advisors Asset Management Inc. boosted its stake in shares of Newfield Exploration by 203.6% in the third quarter. Advisors Asset Management Inc. now owns 2,732 shares of the energy company’s stock valued at $119,000 after buying an additional 1,832 shares during the period. Massey Quick & Co. LLC bought a new stake in shares of Newfield Exploration during the fourth quarter valued at about $122,000. Virtus Investment Advisers Inc. bought a new stake in shares of Newfield Exploration during the third quarter valued at about $124,000. Dreman Value Management L L C bought a new stake in shares of Newfield Exploration during the third quarter valued at about $153,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Newfield Exploration by 51.0% in the third quarter. Victory Capital Management Inc. now owns 3,791 shares of the energy company’s stock valued at $165,000 after buying an additional 1,281 shares during the period. Institutional investors and hedge funds own 96.67% of the company’s stock.
About Newfield Exploration
Newfield Exploration Company is an independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids (NGLs). The Company’s operations are focused primarily on large scale, onshore liquids-rich resource plays in the United States. Its segments are the United States and China.