Newfield Exploration (NYSE:NFX) Given a $31.00 Price Target at Morgan Stanley

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Morgan Stanley set a $31.00 price target on Newfield Exploration (NYSE:NFX) in a report released on Friday, October 12th. The brokerage currently has a hold rating on the energy company’s stock.

Several other research analysts have also issued reports on NFX. ValuEngine lowered Newfield Exploration from a sell rating to a strong sell rating in a research note on Tuesday, October 2nd. Royal Bank of Canada reiterated a buy rating and set a $36.00 price objective on shares of Newfield Exploration in a research note on Friday, July 13th. SunTrust Banks lowered Newfield Exploration from a buy rating to a hold rating in a research note on Friday, July 27th. Jefferies Financial Group reiterated a buy rating and set a $37.00 price objective on shares of Newfield Exploration in a research note on Wednesday, July 18th. Finally, BMO Capital Markets reiterated a hold rating and set a $33.00 price objective on shares of Newfield Exploration in a research note on Thursday, July 12th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $35.81.

NFX opened at $21.87 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.72 and a quick ratio of 0.70. The company has a market capitalization of $4.38 billion, a PE ratio of 6.28, a price-to-earnings-growth ratio of 0.50 and a beta of 1.65. Newfield Exploration has a 1-year low of $18.67 and a 1-year high of $35.20.

Newfield Exploration (NYSE:NFX) last issued its earnings results on Wednesday, October 31st. The energy company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.15. The business had revenue of $711.00 million during the quarter, compared to analyst estimates of $661.27 million. Newfield Exploration had a return on equity of 43.65% and a net margin of 21.14%. Newfield Exploration’s revenue was up 62.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 earnings per share. As a group, sell-side analysts predict that Newfield Exploration will post 3.55 EPS for the current year.

In related news, insider Lee K. Boothby sold 16,161 shares of the firm’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $29.25, for a total value of $472,709.25. Following the transaction, the insider now owns 194,420 shares in the company, valued at $5,686,785. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.59% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Virginia Retirement Systems ET AL bought a new position in Newfield Exploration in the third quarter valued at about $2,107,000. American Century Companies Inc. bought a new position in Newfield Exploration in the third quarter valued at about $242,000. Mobius Capital Management LLC bought a new position in Newfield Exploration in the third quarter valued at about $7,363,000. Adams Natural Resources Fund Inc. bought a new position in Newfield Exploration in the third quarter valued at about $1,612,000. Finally, North Star Asset Management Inc. boosted its holdings in Newfield Exploration by 11.0% in the third quarter. North Star Asset Management Inc. now owns 236,934 shares of the energy company’s stock valued at $6,831,000 after acquiring an additional 23,555 shares during the last quarter. Institutional investors and hedge funds own 99.29% of the company’s stock.

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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