Published On: Mon, Sep 19th, 2016

Newfield Exploration Co. (NFX) Coverage Initiated at Johnson Rice

Johnson Rice assumed coverage on shares of Newfield Exploration Co. (NYSE:NFX) in a research note issued to investors on Thursday. The brokerage set a “buy” rating on the energy company’s stock.
Several other research analysts also recently commented on the company. Royal Bank Of Canada lifted their target price on Newfield Exploration from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, July 11th. Cantor Fitzgerald reissued a “buy” rating and issued a $44.00 price objective on shares of Newfield Exploration in a research report on Wednesday, July 6th. Piper Jaffray Cos. lifted their price objective on Newfield Exploration from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 6th. Simmons lifted their price objective on Newfield Exploration from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 6th. Finally, Nomura reissued a “buy” rating and issued a $47.00 price objective (up from $43.00) on shares of Newfield Exploration in a research report on Tuesday, July 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $46.67.
Shares of Newfield Exploration (NYSE:NFX) traded up 1.63% on Thursday, reaching $41.84. The company had a trading volume of 6,041,481 shares. The stock’s market cap is $8.23 billion. The stock has a 50-day moving average price of $44.76 and a 200-day moving average price of $39.48. Newfield Exploration has a 12 month low of $20.84 and a 12 month high of $47.56.

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Newfield Exploration (NYSE:NFX) last announced its earnings results on Tuesday, August 2nd. The energy company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.24. The firm had revenue of $381 million for the quarter, compared to the consensus estimate of $379.74 million. Newfield Exploration had a positive return on equity of 9.07% and a negative net margin of 226.57%. The business’s quarterly revenue was down 18.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 EPS. Analysts predict that Newfield Exploration will post $0.77 earnings per share for the current fiscal year.
In other Newfield Exploration news, VP Matthew R. Vezza sold 4,600 shares of the business’s stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $43.17, for a total transaction of $198,582.00. Following the sale, the vice president now owns 41,306 shares of the company’s stock, valued at approximately $1,783,180.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Pamela J. Gardner sold 10,685 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $46.22, for a total transaction of $493,860.70. Following the sale, the director now directly owns 43,749 shares in the company, valued at approximately $2,022,078.78. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. ProShare Advisors LLC boosted its position in Newfield Exploration by 4.9% in the fourth quarter. ProShare Advisors LLC now owns 36,750 shares of the energy company’s stock valued at $1,197,000 after buying an additional 1,714 shares during the last quarter. Comerica Bank boosted its position in Newfield Exploration by 1.7% in the fourth quarter. Comerica Bank now owns 57,249 shares of the energy company’s stock valued at $1,675,000 after buying an additional 976 shares during the last quarter. New York State Common Retirement Fund boosted its position in Newfield Exploration by 0.7% in the fourth quarter. New York State Common Retirement Fund now owns 425,837 shares of the energy company’s stock valued at $13,865,000 after buying an additional 3,000 shares during the last quarter. Vanguard Group Inc. boosted its position in Newfield Exploration by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 13,750,032 shares of the energy company’s stock valued at $447,702,000 after buying an additional 355,289 shares during the last quarter. Finally, Amica Mutual Insurance Co. boosted its position in Newfield Exploration by 293.5% in the fourth quarter. Amica Mutual Insurance Co. now owns 42,232 shares of the energy company’s stock valued at $1,375,000 after buying an additional 31,500 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.
About Newfield Exploration
Newfield Exploration Company is an independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids (NGLs). The Company’s operations are focused primarily on large scale, onshore liquids-rich resource plays in the United States. Its segments are the United States and China.

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