An issue of Newfield Exploration Co. (NYSE:NFX) debt fell 1.1% as a percentage of its face value during trading on Monday. The high-yield issue of debt has a 5.375% coupon and is set to mature on January 1, 2026. The bonds in the issue are now trading at $99.50 and were trading at $97.91 last week. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its stock price.
NFX has been the topic of several research analyst reports. Imperial Capital reaffirmed an “outperform” rating and issued a $53.00 price target on shares of Newfield Exploration in a research report on Friday, September 9th. Nomura reissued a “buy” rating and set a $47.00 target price (up from $43.00) on shares of Newfield Exploration in a research report on Tuesday, July 5th. Simmons lifted their target price on Newfield Exploration from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 6th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Newfield Exploration in a research report on Wednesday, August 3rd. Finally, 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 research report on Monday, July 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $46.67.
Newfield Exploration Co. (NYSE:NFX) opened at 41.09 on Tuesday. The firm’s market cap is $8.09 billion. Newfield Exploration Co. has a one year low of $20.84 and a one year high of $47.56. The stock has a 50 day moving average of $44.35 and a 200 day moving average of $40.29.
Newfield Exploration (NYSE:NFX) last issued its quarterly earnings data on Tuesday, August 2nd. The energy company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.24. The business earned $381 million during the quarter, compared to the consensus estimate of $379.74 million. Newfield Exploration had a negative net margin of 226.57% and a positive return on equity of 9.07%. The firm’s revenue was down 18.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.46 EPS. Equities research analysts predict that Newfield Exploration Co. will post $0.77 EPS for the current fiscal year.
In related news, Director Pamela J. Gardner sold 10,685 shares of the stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $46.22, for a total value of $493,860.70. Following the completion of the transaction, the director now owns 43,749 shares of the company’s stock, valued at approximately $2,022,078.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Juanita F. Romans sold 2,015 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $46.04, for a total transaction of $92,770.60. Following the completion of the transaction, the director now directly owns 36,810 shares of the company’s stock, valued at approximately $1,694,732.40. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Newfield Exploration by 12.5% in the second quarter. Vanguard Group Inc. now owns 19,099,273 shares of the energy company’s stock valued at $843,806,000 after buying an additional 2,128,367 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Newfield Exploration by 49.9% in the first quarter. Wellington Management Group LLP now owns 19,040,494 shares of the energy company’s stock valued at $633,096,000 after buying an additional 6,337,413 shares during the last quarter. State Street Corp increased its position in Newfield Exploration by 15.0% in the second quarter. State Street Corp now owns 9,771,173 shares of the energy company’s stock valued at $431,692,000 after buying an additional 1,271,965 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Newfield Exploration by 1.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 6,385,350 shares of the energy company’s stock valued at $282,105,000 after buying an additional 65,942 shares during the last quarter. Finally, Boston Partners acquired a new position in Newfield Exploration during the second quarter valued at about $251,784,000. 99.61% of the stock is owned by institutional investors and hedge funds.
Newfield Exploration Company Profile
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.
Receive News & Ratings for Newfield Exploration Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newfield Exploration Co. and related companies with MarketBeat.com's FREE daily email newsletter.