Newfield Exploration Company (NFX) Given a $37.00 Price Target by Stifel Nicolaus Analysts
Newfield Exploration Company (NYSE:NFX) received a $37.00 price target from equities researchers at Stifel Nicolaus in a research note issued on Friday. The brokerage currently has a “buy” rating on the energy company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 46.19% from the stock’s previous close.
Several other research firms also recently weighed in on NFX. Scotiabank reaffirmed a “buy” rating and issued a $46.00 target price on shares of Newfield Exploration in a research report on Thursday, May 4th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $54.00 target price on shares of Newfield Exploration in a research report on Tuesday, April 25th. Barclays PLC reaffirmed an “equal weight” rating and issued a $33.00 target price (down from $39.00) on shares of Newfield Exploration in a research report on Saturday, April 22nd. Piper Jaffray Companies began coverage on Newfield Exploration in a research report on Monday, May 15th. They issued a “buy” rating and a $55.00 target price for the company. Finally, KLR Group raised Newfield Exploration from a “hold” rating to a “buy” rating in a research report on Monday, May 15th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twenty have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $42.75.
Shares of Newfield Exploration (NFX) opened at 25.31 on Friday. Newfield Exploration has a 1-year low of $24.91 and a 1-year high of $50.00. The company has a 50-day moving average of $26.89 and a 200-day moving average of $32.87. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 16.41 and a beta of 1.48.
Newfield Exploration (NYSE:NFX) last issued its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $402 million for the quarter, compared to analyst estimates of $413.70 million. Newfield Exploration had a return on equity of 33.17% and a net margin of 18.82%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 earnings per share. On average, equities research analysts expect that Newfield Exploration will post $1.92 EPS for the current fiscal year.
In other news, Director Roger B. Plank bought 3,000 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $25.98 per share, for a total transaction of $77,940.00. Following the completion of the transaction, the director now owns 30,787 shares in the company, valued at $799,846.26. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of NFX. Caisse DE Depot ET Placement DU Quebec increased its stake in Newfield Exploration by 3.5% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 32,700 shares of the energy company’s stock worth $1,208,000 after buying an additional 1,100 shares during the last quarter. Suntrust Banks Inc. purchased a new stake in Newfield Exploration during the first quarter worth approximately $423,000. Cipher Capital LP increased its stake in Newfield Exploration by 13.8% in the first quarter. Cipher Capital LP now owns 36,718 shares of the energy company’s stock worth $1,355,000 after buying an additional 4,458 shares during the last quarter. ARP Americas LLC purchased a new stake in Newfield Exploration during the first quarter worth approximately $214,000. Finally, World Asset Management Inc increased its stake in Newfield Exploration by 13.0% in the first quarter. World Asset Management Inc now owns 20,870 shares of the energy company’s stock worth $770,000 after buying an additional 2,407 shares during the last quarter. Institutional investors own 98.33% 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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