Newfield Exploration (NFX) Shares Gap Up to $30.73

Shares of Newfield Exploration Co. (NYSE:NFX) gapped up before the market opened on Monday . The stock had previously closed at $31.09, but opened at $30.73. Newfield Exploration shares last traded at $29.82, with a volume of 112237 shares changing hands.

Several analysts recently issued reports on the stock. ValuEngine upgraded shares of Newfield Exploration from a “sell” rating to a “hold” rating in a research report on Friday, June 22nd. B. Riley boosted their target price on shares of Newfield Exploration from $36.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, June 11th. Seaport Global Securities upgraded shares of Newfield Exploration from a “neutral” rating to a “buy” rating in a research report on Friday, June 1st. Williams Capital restated a “buy” rating and set a $44.00 target price on shares of Newfield Exploration in a research report on Wednesday, May 23rd. Finally, Jefferies Financial Group set a $34.00 target price on shares of Newfield Exploration and gave the company a “buy” rating in a research report on Monday, March 19th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company’s stock. Newfield Exploration currently has a consensus rating of “Buy” and an average target price of $37.76.

The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.74 and a current ratio of 0.77. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 0.75 and a beta of 1.48.

Newfield Exploration (NYSE:NFX) last issued its quarterly 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. Newfield Exploration had a net margin of 18.96% and a return on equity of 36.67%. The business had revenue of $580.00 million for the quarter, compared to the consensus estimate of $552.56 million. During the same quarter in the previous year, the firm earned $0.57 earnings per share. The company’s revenue for the quarter was up 39.1% on a year-over-year basis. analysts predict that Newfield Exploration Co. will post 3.3 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of NFX. BlackRock Inc. lifted its holdings in shares of Newfield Exploration by 0.8% in the first quarter. BlackRock Inc. now owns 14,075,441 shares of the energy company’s stock worth $343,722,000 after buying an additional 113,507 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Newfield Exploration by 26.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,222,667 shares of the energy company’s stock valued at $54,278,000 after acquiring an additional 459,692 shares during the last quarter. Geode Capital Management LLC increased its position in Newfield Exploration by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 2,163,284 shares of the energy company’s stock valued at $68,062,000 after acquiring an additional 67,472 shares during the last quarter. Schroder Investment Management Group increased its position in Newfield Exploration by 2.8% during the first quarter. Schroder Investment Management Group now owns 2,159,130 shares of the energy company’s stock valued at $52,726,000 after acquiring an additional 57,800 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in Newfield Exploration by 33.3% during the fourth quarter. Two Sigma Advisers LP now owns 2,041,087 shares of the energy company’s stock valued at $64,355,000 after acquiring an additional 509,757 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

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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