Newfield Exploration Co. (NYSE:NFX) was upgraded by investment analysts at Societe Generale from a “hold” rating to a “buy” rating in a research report issued on Thursday.

A number of other research firms have also weighed in on NFX. Barclays PLC lowered Newfield Exploration from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $35.00 to $44.00 in a report on Friday, August 5th. Stifel Nicolaus increased their price objective on Newfield Exploration from $48.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Zacks Investment Research upgraded Newfield Exploration from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Monday, October 17th. Vetr upgraded Newfield Exploration from a “buy” rating to a “strong-buy” rating and set a $55.00 price objective for the company in a report on Tuesday, November 1st. Finally, Nomura reiterated a “buy” rating and set a $47.00 price objective on shares of Newfield Exploration in a report on Monday. Seven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $47.57.

Analyst Recommendations for Newfield Exploration (NYSE:NFX)

Shares of Newfield Exploration (NYSE:NFX) opened at 38.77 on Thursday. Newfield Exploration has a 12-month low of $20.84 and a 12-month high of $47.56. The firm’s 50-day moving average price is $41.85 and its 200 day moving average price is $42.04. The company’s market cap is $7.65 billion.

Newfield Exploration (NYSE:NFX) last posted its earnings results on Tuesday, November 1st. The energy company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.18. The company earned $392 million during the quarter, compared to analyst estimates of $414.42 million. Newfield Exploration had a positive return on equity of 12.41% and a negative net margin of 134.32%. Newfield Exploration’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 earnings per share. On average, analysts predict that Newfield Exploration will post $0.95 earnings per share for the current year.

In related news, Director Pamela J. Gardner sold 10,685 shares of Newfield Exploration stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.44% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in Newfield Exploration by 3.4% in the first quarter. Royal Bank of Canada now owns 1,132,039 shares of the energy company’s stock valued at $37,640,000 after buying an additional 36,825 shares during the period. Moore Capital Management LP increased its position in Newfield Exploration by 110.0% in the first quarter. Moore Capital Management LP now owns 210,000 shares of the energy company’s stock valued at $6,983,000 after buying an additional 110,000 shares during the period. Metropolitan Life Insurance Co. NY increased its position in Newfield Exploration by 19.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 102,679 shares of the energy company’s stock valued at $3,414,000 after buying an additional 16,581 shares during the period. Springbok Capital Management LLC increased its position in Newfield Exploration by 60.4% in the first quarter. Springbok Capital Management LLC now owns 21,454 shares of the energy company’s stock valued at $713,000 after buying an additional 8,077 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Newfield Exploration by 16.3% in the first quarter. Envestnet Asset Management Inc. now owns 210,440 shares of the energy company’s stock valued at $6,997,000 after buying an additional 29,517 shares during the period. Hedge funds and other institutional investors own 99.84% 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.

5 Day Chart for NYSE:NFX

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