Piper Jaffray Companies Reiterates Buy Rating for Newfield Exploration (NFX)

Piper Jaffray Companies reaffirmed their buy rating on shares of Newfield Exploration (NYSE:NFX) in a research report report published on Tuesday. Piper Jaffray Companies currently has a $48.00 price objective on the energy company’s stock.

Several other equities research analysts have also recently weighed in on NFX. Bank of America upgraded shares of Newfield Exploration from a neutral rating to a buy rating and set a $46.00 price objective for the company in a research report on Thursday, January 4th. Jefferies Group set a $40.00 price objective on shares of Newfield Exploration and gave the company a buy rating in a research report on Wednesday, December 20th. Williams Capital set a $46.00 price objective on shares of Newfield Exploration and gave the company a buy rating in a research report on Wednesday, November 1st. BMO Capital Markets set a $34.00 price objective on shares of Newfield Exploration and gave the company a hold rating in a research report on Tuesday, November 14th. Finally, KeyCorp restated a hold rating on shares of Newfield Exploration in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $38.59.

Shares of Newfield Exploration (NFX) traded up $0.15 during trading on Tuesday, hitting $34.75. 2,040,600 shares of the company were exchanged, compared to its average volume of 2,735,211. The firm has a market cap of $6,910.00, a PE ratio of 20.09, a P/E/G ratio of 1.37 and a beta of 1.45. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 1.87. Newfield Exploration has a 1-year low of $24.41 and a 1-year high of $43.74.

Newfield Exploration (NYSE:NFX) last announced its earnings results on Tuesday, October 31st. The energy company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. The business had revenue of $439.00 million during the quarter, compared to analysts’ expectations of $419.75 million. Newfield Exploration had a net margin of 20.62% and a return on equity of 35.28%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the company posted $0.45 EPS. equities analysts predict that Newfield Exploration will post 2.14 EPS for the current year.

In other news, CEO Lee K. Boothby sold 12,000 shares of Newfield Exploration stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $31.70, for a total transaction of $380,400.00. Following the completion of the sale, the chief executive officer now owns 255,322 shares in the company, valued at approximately $8,093,707.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Juanita F. Romans sold 3,500 shares of Newfield Exploration stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $30.02, for a total transaction of $105,070.00. Following the sale, the director now owns 39,034 shares of the company’s stock, valued at approximately $1,171,800.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,500 shares of company stock valued at $1,243,150. 0.54% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in NFX. Janus Henderson Group PLC boosted its stake in Newfield Exploration by 3,994.5% during the 3rd quarter. Janus Henderson Group PLC now owns 1,899,262 shares of the energy company’s stock worth $56,351,000 after acquiring an additional 1,852,876 shares during the last quarter. Renaissance Technologies LLC bought a new position in Newfield Exploration during the 2nd quarter worth approximately $42,542,000. FMR LLC boosted its stake in Newfield Exploration by 9.9% during the 2nd quarter. FMR LLC now owns 10,459,662 shares of the energy company’s stock worth $297,683,000 after acquiring an additional 938,740 shares during the last quarter. Prudential Financial Inc. boosted its stake in Newfield Exploration by 26.9% during the 3rd quarter. Prudential Financial Inc. now owns 4,114,290 shares of the energy company’s stock worth $122,071,000 after acquiring an additional 872,434 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in Newfield Exploration by 70.3% during the 3rd quarter. Schroder Investment Management Group now owns 2,105,206 shares of the energy company’s stock worth $62,209,000 after acquiring an additional 869,092 shares during the last quarter. 99.71% of the stock is currently owned by institutional investors and hedge funds.

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Newfield Exploration Company Profile

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.

Analyst Recommendations for Newfield Exploration (NYSE:NFX)

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