UBS Group Initiates Coverage on Newfield Exploration (NFX)
UBS Group began coverage on shares of Newfield Exploration (NYSE:NFX) in a research report released on Wednesday morning, www.benzinga.com reports. The brokerage issued a buy rating and a $30.00 target price on the energy company’s stock.
Several other analysts have also recently weighed in on the company. Credit Suisse Group started coverage on Newfield Exploration in a report on Monday, December 11th. They set a neutral rating and a $30.00 price objective for the company. Royal Bank of Canada reissued a buy rating and set a $39.00 price objective on shares of Newfield Exploration in a report on Tuesday, November 7th. JPMorgan Chase & Co. cut Newfield Exploration from an overweight rating to a neutral rating and set a $37.00 price objective for the company. in a report on Friday, December 15th. Piper Jaffray Companies reissued a buy rating and set a $48.00 price objective on shares of Newfield Exploration in a report on Tuesday, January 9th. Finally, Williams Capital set a $50.00 price objective on Newfield Exploration and gave the stock a buy rating in a report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $37.59.
Shares of Newfield Exploration (NYSE:NFX) opened at $23.37 on Wednesday. The firm has a market capitalization of $4,667.50, a PE ratio of 10.48, a price-to-earnings-growth ratio of 0.60 and a beta of 1.57. Newfield Exploration has a twelve month low of $22.72 and a twelve month high of $37.61. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.73.
In related news, CEO Lee K. Boothby sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $31.84, for a total value of $382,080.00. Following the completion of the transaction, the chief executive officer now directly owns 223,235 shares in the company, valued at approximately $7,107,802.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas G. Ricks acquired 8,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was acquired at an average price of $23.78 per share, with a total value of $196,185.00. Following the completion of the transaction, the director now directly owns 66,447 shares in the company, valued at approximately $1,580,109.66. The disclosure for this purchase can be found here. 0.54% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of NFX. Assetmark Inc. grew its position in shares of Newfield Exploration by 14,896.2% in the 4th quarter. Assetmark Inc. now owns 3,899 shares of the energy company’s stock valued at $123,000 after purchasing an additional 3,873 shares during the period. Tiedemann Wealth Management LLC grew its position in shares of Newfield Exploration by 36.0% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 28,966 shares of the energy company’s stock valued at $148,000 after purchasing an additional 7,664 shares during the period. ETRADE Capital Management LLC acquired a new position in shares of Newfield Exploration in the 4th quarter valued at approximately $211,000. Vident Investment Advisory LLC acquired a new position in shares of Newfield Exploration in the 3rd quarter valued at approximately $212,000. Finally, MAI Capital Management acquired a new position in shares of Newfield Exploration in the 4th quarter valued at approximately $240,000. Institutional investors and hedge funds own 99.04% 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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