Newfield Exploration (NFX) Shares Up -0.2%

Newfield Exploration Co. (NYSE:NFX) shares shot up 0.2% during trading on Thursday . The company traded as high as $25.04 and last traded at $24.75. 3,200,659 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 3,877,518 shares. The stock had previously closed at $24.80.

A number of brokerages recently commented on NFX. Jefferies Group set a $34.00 price target on Newfield Exploration and gave the company a “buy” rating in a report on Monday, March 19th. UBS began coverage on Newfield Exploration in a report on Wednesday, March 7th. They issued a “buy” rating and a $30.00 price target for the company. Stifel Nicolaus set a $45.00 price target on Newfield Exploration and gave the company a “buy” rating in a report on Friday, March 2nd. BMO Capital Markets reissued a “market perform” rating and issued a $29.00 price target (down previously from $36.00) on shares of Newfield Exploration in a report on Friday, February 23rd. Finally, KLR Group upgraded Newfield Exploration from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $37.55.

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The company has a debt-to-equity ratio of 1.73, a current ratio of 0.91 and a quick ratio of 0.89. The stock has a market capitalization of $4,953.12, a PE ratio of 11.44, a price-to-earnings-growth ratio of 0.62 and a beta of 1.57.

Newfield Exploration (NYSE:NFX) last announced its quarterly earnings results on Tuesday, February 20th. The energy company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. The business had revenue of $509.00 million for the quarter, compared to analysts’ expectations of $497.95 million. Newfield Exploration had a return on equity of 35.57% and a net margin of 24.17%. The business’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. analysts forecast that Newfield Exploration Co. will post 3.03 earnings per share for the current fiscal year.

In related news, Director Thomas G. Ricks purchased 8,250 shares of the company’s stock in a transaction dated Thursday, March 1st. The shares were acquired at an average cost of $23.78 per share, for a total transaction of $196,185.00. Following the transaction, the director now owns 66,447 shares of the company’s stock, valued at $1,580,109.66. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Lee K. Boothby sold 12,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $31.75, for a total value of $381,000.00. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Assetmark Inc. increased its position in Newfield Exploration by 14,896.2% in the 4th quarter. Assetmark Inc. now owns 3,899 shares of the energy company’s stock valued at $123,000 after acquiring an additional 3,873 shares during the period. Tiedemann Wealth Management LLC increased its position in Newfield Exploration by 36.0% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 28,966 shares of the energy company’s stock valued at $148,000 after acquiring an additional 7,664 shares during the period. ETRADE Capital Management LLC acquired a new stake in Newfield Exploration in the 4th quarter valued at approximately $211,000. Vident Investment Advisory LLC acquired a new stake in Newfield Exploration in the 3rd quarter valued at approximately $212,000. Finally, MAI Capital Management acquired a new stake in Newfield Exploration in the 4th quarter valued at approximately $240,000. Institutional investors and hedge funds own 99.82% of the company’s stock.

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About Newfield Exploration

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.

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