Newfield Exploration (NYSE:NFX) was downgraded by research analysts at Wolfe Research from an “outperform” rating to a “market perform” rating in a report released on Tuesday.
A number of other analysts have also weighed in on NFX. Jefferies Group set a $40.00 target price on Newfield Exploration and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Zacks Investment Research raised Newfield Exploration from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Stifel Nicolaus set a $37.00 price target on Newfield Exploration and gave the stock a “buy” rating in a research report on Friday, August 18th. KeyCorp reaffirmed a “hold” rating on shares of Newfield Exploration in a research report on Thursday, October 12th. Finally, BidaskClub downgraded Newfield Exploration from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $38.62.
Newfield Exploration (NFX) opened at $28.44 on Tuesday. Newfield Exploration has a 52-week low of $24.41 and a 52-week high of $50.00. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.17 and a quick ratio of 1.15. The firm has a market capitalization of $6,100.35, a PE ratio of 15.20, a price-to-earnings-growth ratio of 1.26 and a beta of 1.44.
Newfield Exploration (NYSE:NFX) last released its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.09. The business had revenue of $439.00 million during the quarter, compared to the consensus estimate of $419.75 million. Newfield Exploration had a return on equity of 35.28% and a net margin of 20.62%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 EPS. equities analysts forecast that Newfield Exploration will post 2.1 earnings per share for the current year.
In other Newfield Exploration news, Director Juanita F. Romans sold 3,500 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were 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 of the company’s stock, valued at $1,171,800.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Lee K. Boothby sold 12,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $29.10, for a total transaction of $349,200.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,500 shares of company stock worth $1,210,270. 0.54% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC grew its stake in shares of Newfield Exploration by 3,994.5% during the third quarter. Janus Henderson Group PLC now owns 1,899,262 shares of the energy company’s stock valued at $56,351,000 after purchasing an additional 1,852,876 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Newfield Exploration during the second quarter valued at approximately $42,542,000. FMR LLC grew its stake in shares of Newfield Exploration by 9.9% during the second quarter. FMR LLC now owns 10,459,662 shares of the energy company’s stock valued at $297,683,000 after purchasing an additional 938,740 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Newfield Exploration by 26.9% during the third quarter. Prudential Financial Inc. now owns 4,114,290 shares of the energy company’s stock valued at $122,071,000 after purchasing an additional 872,434 shares during the last quarter. Finally, Schroder Investment Management Group grew its stake in shares of Newfield Exploration by 70.3% during the third quarter. Schroder Investment Management Group now owns 2,105,206 shares of the energy company’s stock valued at $62,209,000 after purchasing an additional 869,092 shares during the last quarter. 99.83% of the stock is currently owned by hedge funds and other institutional investors.
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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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