Newfield Exploration (NFX) Shares Gap Up to $27.89

Newfield Exploration Co. (NYSE:NFX)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $28.77, but opened at $27.89. Newfield Exploration shares last traded at $27.97, with a volume of 2084294 shares traded.

A number of brokerages have recently weighed in on NFX. Piper Jaffray reiterated a “buy” rating and set a $48.00 price target on shares of Newfield Exploration in a report on Tuesday, January 9th. Bank of America upgraded Newfield Exploration from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Thursday, January 4th. Jefferies Group set a $40.00 price target on Newfield Exploration and gave the company a “buy” rating in a report on Wednesday, December 20th. Cowen set a $40.00 price target on Newfield Exploration and gave the company a “buy” rating in a report on Thursday, January 18th. Finally, KLR Group upgraded Newfield Exploration from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $37.30.

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The stock has a market capitalization of $5,260.69, a price-to-earnings ratio of 12.97, a PEG ratio of 0.73 and a beta of 1.53. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.91 and a quick ratio of 0.89.

Newfield Exploration (NYSE:NFX) last announced its quarterly earnings results on Tuesday, February 20th. The energy company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. Newfield Exploration had a return on equity of 35.57% and a net margin of 24.17%. The company had revenue of $509.00 million during the quarter, compared to analysts’ expectations of $497.95 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The business’s quarterly revenue was up 22.7% compared to the same quarter last year. equities research analysts predict that Newfield Exploration Co. will post 3.06 earnings per share for the current fiscal year.

In other Newfield Exploration news, insider Lee K. Boothby sold 12,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $31.75, for a total value of $381,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas G. Ricks purchased 8,250 shares of Newfield Exploration stock in a transaction on Thursday, March 1st. The stock was bought at an average cost of $23.78 per share, with a total value of $196,185.00. Following the transaction, the director now directly owns 66,447 shares of the company’s stock, valued at $1,580,109.66. The disclosure for this purchase can be found here. 0.59% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the business. Assetmark Inc. lifted its position in shares of Newfield Exploration by 14,896.2% during the 4th quarter. Assetmark Inc. now owns 3,899 shares of the energy company’s stock worth $123,000 after purchasing an additional 3,873 shares during the last quarter. ETRADE Capital Management LLC acquired a new position in shares of Newfield Exploration during the 4th quarter worth about $211,000. Vident Investment Advisory LLC acquired a new position in shares of Newfield Exploration during the 3rd quarter worth about $212,000. MAI Capital Management acquired a new position in shares of Newfield Exploration during the 4th quarter worth about $240,000. Finally, Robeco Institutional Asset Management B.V. acquired a new position in shares of Newfield Exploration during the 4th quarter worth about $257,000. 99.82% of the stock is owned by 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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