Zacks Investment Research cut shares of Newfield Exploration (NYSE:NFX) from a buy rating to a hold rating in a research report released on Wednesday morning.

According to Zacks, “Newfield Exploration is well positioned to benefit from its holding in the Anadarko Basin. The company has substantial acres of land in the Oklahoma region, which gives it the financial flexibility and a sizeable acreage position in the region. For 2018, Newfield expects its domestic production between 185–200 MBoe/d, up from 152 MBoe/d in 2017. It can lead to an increase in the bottom-line. We expect the company’s 2018 earnings per share to surge by 67% year over year. Moreover, the company is not shy of divesting non-core assets. In fact, since 2011, the upstream energy player divested assets worth$3.1 billion. However, the upstream energy player has significant exposure to debt as its debt-to-capitalization ratio is 56.6%, much higher than 45.3% of the broader industry. Also, the company’s rising operating cost is a serious concern.”

Other analysts have also issued research reports about the stock. Seaport Global Securities restated a buy rating on shares of Newfield Exploration in a research note on Wednesday, July 25th. Williams Capital restated a buy rating and issued a $44.00 price target on shares of Newfield Exploration in a research note on Thursday, November 1st. Jefferies Financial Group restated a buy rating and issued a $37.00 price target on shares of Newfield Exploration in a research note on Wednesday, July 18th. Edward Jones lowered shares of Newfield Exploration to a hold rating in a research note on Friday, November 2nd. Finally, SunTrust Banks dropped their price target on shares of Newfield Exploration from $30.00 to $23.00 and set a hold rating for the company in a research note on Monday, October 29th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $35.43.

Shares of NFX traded up $0.15 during mid-day trading on Wednesday, reaching $19.61. 730,097 shares of the stock traded hands, compared to its average volume of 3,879,743. The firm has a market capitalization of $4.16 billion, a P/E ratio of 9.15, a P/E/G ratio of 0.49 and a beta of 1.65. Newfield Exploration has a 12-month low of $18.67 and a 12-month high of $35.20. The company has a quick ratio of 0.70, a current ratio of 0.72 and a debt-to-equity ratio of 1.30.

Newfield Exploration (NYSE:NFX) last posted its quarterly earnings data on Wednesday, October 31st. The energy company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.15. The company had revenue of $711.00 million for the quarter, compared to analyst estimates of $661.27 million. Newfield Exploration had a net margin of 21.14% and a return on equity of 43.65%. The business’s quarterly revenue was up 62.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 earnings per share. Equities analysts expect that Newfield Exploration will post 3.59 earnings per share for the current fiscal year.

In other Newfield Exploration news, insider Lee K. Boothby sold 16,161 shares of Newfield Exploration stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $29.25, for a total value of $472,709.25. Following the completion of the transaction, the insider now owns 194,420 shares of the company’s stock, valued at $5,686,785. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.59% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. NumerixS Investment Technologies Inc acquired a new position in shares of Newfield Exploration during the second quarter valued at $142,000. Amica Pension Fund Board of Trustees acquired a new position in shares of Newfield Exploration during the second quarter valued at $178,000. Amica Mutual Insurance Co. acquired a new position in shares of Newfield Exploration during the second quarter valued at $198,000. Signition LP acquired a new position in shares of Newfield Exploration during the second quarter valued at $201,000. Finally, Algert Global LLC acquired a new position in shares of Newfield Exploration during the third quarter valued at $208,000. 99.29% of the stock is owned by hedge funds and other institutional investors.

Newfield Exploration Company Profile

Newfield Exploration Company, an independent energy company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company has operations principally in the Anadarko and Arkoma basins of Oklahoma, the Williston Basin of North Dakota, and the Uinta Basin of Utah.

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