KeyCorp Reaffirms Hold Rating for Newfield Exploration Company (NFX)
Newfield Exploration Company (NYSE:NFX)‘s stock had its “hold” rating restated by investment analysts at KeyCorp in a research report issued to clients and investors on Thursday.
A number of other research analysts have also recently issued reports on NFX. BidaskClub raised Newfield Exploration from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Wolfe Research initiated coverage on Newfield Exploration in a report on Thursday, June 15th. They set an “outperform” rating and a $38.00 price objective for the company. Seaport Global Securities cut Newfield Exploration from a “buy” rating to a “sell” rating and cut their price objective for the company from $50.00 to $24.00 in a report on Wednesday, June 21st. BMO Capital Markets set a $34.00 price objective on Newfield Exploration and gave the company a “buy” rating in a report on Monday, June 26th. Finally, Scotiabank reissued a “buy” rating and set a $39.00 price objective on shares of Newfield Exploration in a report on Friday, June 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Newfield Exploration presently has a consensus rating of “Buy” and an average target price of $41.23.
Newfield Exploration (NYSE:NFX) traded down 1.49% during trading on Thursday, hitting $29.78. 1,919,954 shares of the stock traded hands. The stock has a market cap of $5.88 billion, a PE ratio of 19.31 and a beta of 1.53. Newfield Exploration has a one year low of $24.41 and a one year high of $50.00. The company has a 50-day moving average price of $27.73 and a 200 day moving average price of $30.13.
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 the Zacks’ consensus estimate of $0.44 by ($0.01). The company had revenue of $402.00 million for the quarter, compared to the consensus estimate of $413.70 million. Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. The firm’s revenue 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. Analysts expect that Newfield Exploration will post $1.89 earnings per share for the current year.
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In related news, insider Lee K. Boothby sold 12,000 shares of Newfield Exploration stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $29.10, for a total value of $349,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roger B. Plank acquired 3,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average price of $25.98 per share, with a total value of $77,940.00. Following the completion of the transaction, the director now owns 30,787 shares of the company’s stock, valued at $799,846.26. The disclosure for this purchase can be found here. 0.54% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. CIBC Asset Management Inc boosted its holdings in Newfield Exploration by 0.4% during the second quarter. CIBC Asset Management Inc now owns 17,727 shares of the energy company’s stock worth $505,000 after buying an additional 70 shares during the last quarter. Utah Retirement Systems boosted its holdings in Newfield Exploration by 0.3% during the second quarter. Utah Retirement Systems now owns 36,416 shares of the energy company’s stock worth $1,037,000 after buying an additional 100 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Newfield Exploration by 3.3% during the first quarter. Pacer Advisors Inc. now owns 3,740 shares of the energy company’s stock worth $138,000 after buying an additional 121 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in Newfield Exploration by 1.6% during the second quarter. Louisiana State Employees Retirement System now owns 12,400 shares of the energy company’s stock worth $353,000 after buying an additional 200 shares during the last quarter. Finally, State Treasurer State of Michigan boosted its holdings in Newfield Exploration by 0.3% during the second quarter. State Treasurer State of Michigan now owns 65,512 shares of the energy company’s stock worth $1,864,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 99.15% of the company’s stock.
Newfield Exploration Company Profile
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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