Barclays PLC Boosts Newfield Exploration Company (NFX) Price Target to $28.00
Newfield Exploration Company (NYSE:NFX) had its target price raised by research analysts at Barclays PLC from $27.00 to $28.00 in a research report issued on Monday. The firm currently has an “equal weight” rating on the energy company’s stock. Barclays PLC’s target price would indicate a potential downside of 7.59% from the company’s current price.
Several other brokerages have also issued reports on NFX. Royal Bank Of Canada reiterated a “buy” rating and set a $39.00 price target on shares of Newfield Exploration in a report on Tuesday, November 7th. TheStreet upgraded Newfield Exploration from a “d+” rating to a “c-” rating in a report on Monday, November 6th. Zacks Investment Research lowered Newfield Exploration from a “buy” rating to a “hold” rating in a report on Friday, November 10th. KeyCorp reiterated a “hold” rating on shares of Newfield Exploration in a report on Monday, November 13th. Finally, Williams Capital set a $46.00 price target on Newfield Exploration and gave the company a “buy” rating in a report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $39.00.
Newfield Exploration (NFX) traded up $0.86 during trading hours on Monday, reaching $30.30. The company’s stock had a trading volume of 1,814,900 shares, compared to its average volume of 2,991,556. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 1.87. Newfield Exploration has a 52 week low of $24.41 and a 52 week high of $50.00. The stock has a market cap of $6,050.00, a PE ratio of 15.07, a PEG ratio of 1.27 and a beta of 1.47.
Newfield Exploration (NYSE:NFX) last announced its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.09. The business had revenue of $439.00 million during the quarter, compared to analyst estimates of $419.75 million. Newfield Exploration had a return on equity of 35.28% and a net margin of 20.62%. The firm’s revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 EPS. sell-side analysts forecast that Newfield Exploration will post 2.06 EPS for the current year.
In other news, Director Juanita F. Romans sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $30.02, for a total transaction of $105,070.00. Following the sale, the director now directly owns 39,034 shares in the company, valued at $1,171,800.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lee K. Boothby sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $29.10, for a total value of $349,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,500 shares of company stock worth $1,148,830. 0.54% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Newfield Exploration by 3.3% during the second quarter. Vanguard Group Inc. now owns 23,677,528 shares of the energy company’s stock valued at $673,862,000 after purchasing an additional 760,793 shares during the period. BlackRock Inc. grew its position in Newfield Exploration by 0.4% in the second quarter. BlackRock Inc. now owns 13,843,741 shares of the energy company’s stock valued at $393,993,000 after acquiring an additional 55,230 shares during the period. State Street Corp grew its position in Newfield Exploration by 5.6% in the second quarter. State Street Corp now owns 12,109,780 shares of the energy company’s stock valued at $344,646,000 after acquiring an additional 638,807 shares during the period. FMR LLC grew its position in Newfield Exploration by 9.9% in the second quarter. FMR LLC now owns 10,459,662 shares of the energy company’s stock valued at $297,683,000 after acquiring an additional 938,740 shares during the period. Finally, Boston Partners grew its position in Newfield Exploration by 0.9% in the third quarter. Boston Partners now owns 5,627,037 shares of the energy company’s stock valued at $166,954,000 after acquiring an additional 51,835 shares during the period. Institutional investors and hedge funds own 98.76% 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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