Newfield Exploration Co. (NYSE:NFX) shares gapped down prior to trading on Friday . The stock had previously closed at $30.04, but opened at $29.17. Newfield Exploration shares last traded at $28.01, with a volume of 3573100 shares changing hands.
Several research analysts have commented on NFX shares. Williams Capital set a $50.00 price objective on Newfield Exploration and gave the company a “buy” rating in a research report on Wednesday, February 21st. Stifel Nicolaus set a $45.00 price objective on Newfield Exploration and gave the company a “buy” rating in a research report on Friday, March 2nd. Deutsche Bank started coverage on Newfield Exploration in a research report on Wednesday, April 4th. They issued a “hold” rating and a $32.00 price objective on the stock. KLR Group raised Newfield Exploration from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Thursday, February 22nd. Finally, Zacks Investment Research lowered Newfield Exploration from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $37.57.
The company has a debt-to-equity ratio of 1.62, a current ratio of 0.77 and a quick ratio of 0.74. The company has a market cap of $5.59 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 0.70 and a beta of 1.51.
Newfield Exploration (NYSE:NFX) last announced its earnings results on Tuesday, May 1st. The energy company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.08. The company had revenue of $580.00 million during the quarter, compared to the consensus estimate of $552.56 million. Newfield Exploration had a return on equity of 36.67% and a net margin of 18.96%. The company’s revenue was up 39.1% on a year-over-year basis. During the same period last year, the firm earned $0.57 earnings per share. research analysts forecast that Newfield Exploration Co. will post 3.24 EPS for the current fiscal year.
In other news, Director Roger B. Plank purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 28th. The stock was acquired at an average cost of $23.38 per share, for a total transaction of $46,760.00. Following the completion of the purchase, the director now owns 32,787 shares of the company’s stock, valued at $766,560.06. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas G. Ricks purchased 8,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was purchased at an average price of $23.78 per share, with a total value of $196,185.00. Following the completion of the purchase, the director now directly owns 66,447 shares of the company’s stock, valued at approximately $1,580,109.66. The disclosure for this purchase can be found here. 0.59% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of NFX. Millennium Management LLC grew its stake in Newfield Exploration by 113.7% in the first quarter. Millennium Management LLC now owns 1,653,764 shares of the energy company’s stock worth $40,385,000 after purchasing an additional 879,938 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Newfield Exploration by 784.4% in the first quarter. Point72 Asset Management L.P. now owns 884,383 shares of the energy company’s stock worth $21,597,000 after purchasing an additional 784,383 shares in the last quarter. LSV Asset Management grew its stake in Newfield Exploration by 1,158.1% in the first quarter. LSV Asset Management now owns 790,100 shares of the energy company’s stock worth $19,294,000 after purchasing an additional 727,300 shares in the last quarter. OppenheimerFunds Inc. grew its stake in Newfield Exploration by 210.1% in the fourth quarter. OppenheimerFunds Inc. now owns 1,002,611 shares of the energy company’s stock worth $31,612,000 after purchasing an additional 679,300 shares in the last quarter. Finally, Carillon Tower Advisers Inc. acquired a new position in Newfield Exploration in the first quarter valued at approximately $15,839,000. Institutional investors and hedge funds own 99.36% of the company’s stock.
About Newfield Exploration
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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