Evercore ISI downgraded shares of Newfield Exploration Co. (NYSE:NFX) from a buy rating to a hold rating in a report issued on Friday. They currently have $52.00 price target on the energy company’s stock.
NFX has been the subject of a number of other research reports. Williams Capital started coverage on Newfield Exploration in a research report on Monday, August 29th. They issued a buy rating and a $58.00 price objective for the company. Canaccord Genuity started coverage on Newfield Exploration in a research report on Wednesday, June 29th. They issued a buy rating and a $48.00 price objective for the company. Simmons raised their price objective on Newfield Exploration from $50.00 to $54.00 and gave the stock an outperform rating in a research report on Wednesday, July 6th. Imperial Capital reiterated an outperform rating and issued a $53.00 price objective on shares of Newfield Exploration in a research report on Friday, September 9th. Finally, Cantor Fitzgerald reiterated a buy rating and issued a $44.00 price objective on shares of Newfield Exploration in a research report on Wednesday, June 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $46.82.
Shares of Newfield Exploration (NYSE:NFX) opened at 42.53 on Friday. The stock’s market cap is $8.37 billion. The firm has a 50-day moving average price of $42.99 and a 200 day moving average price of $41.33. Newfield Exploration has a 12-month low of $20.84 and a 12-month high of $47.56.
Newfield Exploration (NYSE:NFX) last released its earnings results on Tuesday, August 2nd. The energy company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.24. The firm had revenue of $381 million for the quarter, compared to analyst estimates of $379.74 million. Newfield Exploration had a positive return on equity of 9.07% and a negative net margin of 226.57%. The company’s revenue was down 18.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 EPS. Equities research analysts predict that Newfield Exploration will post $0.76 EPS for the current fiscal year.
In other news, Director Pamela J. Gardner sold 10,685 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $46.22, for a total value of $493,860.70. Following the completion of the sale, the director now owns 43,749 shares in the company, valued at approximately $2,022,078.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Juanita F. Romans sold 2,015 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $46.04, for a total transaction of $92,770.60. Following the completion of the sale, the director now owns 36,810 shares of the company’s stock, valued at approximately $1,694,732.40. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in Newfield Exploration by 49.9% in the first quarter. Wellington Management Group LLP now owns 19,040,494 shares of the energy company’s stock valued at $633,096,000 after buying an additional 6,337,413 shares during the period. Boston Partners bought a new stake in shares of Newfield Exploration during the second quarter worth $251,784,000. Vanguard Group Inc. raised its stake in shares of Newfield Exploration by 12.5% in the second quarter. Vanguard Group Inc. now owns 19,099,273 shares of the energy company’s stock worth $843,806,000 after buying an additional 2,128,367 shares during the last quarter. Conatus Capital Management LP bought a new stake in shares of Newfield Exploration during the second quarter worth $89,617,000. Finally, State Street Corp raised its stake in shares of Newfield Exploration by 17.8% in the first quarter. State Street Corp now owns 8,499,208 shares of the energy company’s stock worth $282,604,000 after buying an additional 1,283,495 shares during the last quarter. Hedge funds and other institutional investors own 99.63% of the company’s stock.
Newfield Exploration Company Profile
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.
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