Newfield Exploration (NFX) PT Set at $31.00 by Morgan Stanley

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Morgan Stanley set a $31.00 price objective on Newfield Exploration (NYSE:NFX) in a report published on Friday. The firm currently has a hold rating on the energy company’s stock.

A number of other brokerages also recently weighed in on NFX. ValuEngine upgraded shares of Newfield Exploration from a sell rating to a hold rating in a research report on Friday, June 22nd. Royal Bank of Canada reiterated a buy rating and issued a $36.00 price target on shares of Newfield Exploration in a research report on Friday, July 13th. BMO Capital Markets reiterated a hold rating and issued a $33.00 price target on shares of Newfield Exploration in a research report on Thursday, July 12th. Piper Jaffray Companies started coverage on shares of Newfield Exploration in a research report on Friday, September 28th. They issued an overweight rating on the stock. Finally, Zacks Investment Research upgraded shares of Newfield Exploration from a hold rating to a buy rating and set a $34.00 target price on the stock in a report on Monday, July 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the stock. Newfield Exploration presently has a consensus rating of Hold and an average price target of $37.45.

Shares of NYSE:NFX traded up $0.02 during mid-day trading on Friday, reaching $25.20. The stock had a trading volume of 3,631,214 shares, compared to its average volume of 3,362,635. The company has a market capitalization of $5.76 billion, a price-to-earnings ratio of 11.72, a P/E/G ratio of 0.67 and a beta of 1.38. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.72 and a quick ratio of 0.70. Newfield Exploration has a twelve month low of $22.72 and a twelve month high of $35.20.

Newfield Exploration (NYSE:NFX) last announced its quarterly earnings results on Tuesday, July 31st. The energy company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.12. The business had revenue of $679.00 million for the quarter, compared to the consensus estimate of $619.07 million. Newfield Exploration had a net margin of 17.53% and a return on equity of 41.07%. Newfield Exploration’s revenue for the quarter was up 68.9% on a year-over-year basis. During the same period last year, the company posted $0.43 EPS. Equities research analysts expect that Newfield Exploration will post 3.45 earnings per share for the current year.

In other Newfield Exploration news, insider Lee K. Boothby sold 16,161 shares of the firm’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $29.25, for a total transaction of $472,709.25. Following the sale, the insider now directly owns 194,420 shares in the company, valued at approximately $5,686,785. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.59% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Howard Capital Management Inc. grew its stake in shares of Newfield Exploration by 25.4% in the first quarter. Howard Capital Management Inc. now owns 8,572 shares of the energy company’s stock valued at $203,000 after buying an additional 1,735 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Newfield Exploration by 11.6% in the second quarter. Janney Montgomery Scott LLC now owns 17,639 shares of the energy company’s stock valued at $534,000 after buying an additional 1,835 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of Newfield Exploration by 9.6% in the first quarter. Xact Kapitalforvaltning AB now owns 21,901 shares of the energy company’s stock valued at $535,000 after buying an additional 1,910 shares in the last quarter. Rampart Investment Management Company LLC grew its stake in shares of Newfield Exploration by 84.7% in the first quarter. Rampart Investment Management Company LLC now owns 4,513 shares of the energy company’s stock valued at $110,000 after buying an additional 2,070 shares in the last quarter. Finally, 180 Wealth Advisors LLC grew its stake in shares of Newfield Exploration by 13.0% in the second quarter. 180 Wealth Advisors LLC now owns 20,136 shares of the energy company’s stock valued at $609,000 after buying an additional 2,316 shares in the last quarter. 99.29% of the stock is owned by 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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Analyst Recommendations for Newfield Exploration (NYSE:NFX)

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