Deutsche Bank Begins Coverage on Newfield Exploration (NFX)

Deutsche Bank initiated coverage on shares of Newfield Exploration (NYSE:NFX) in a report released on Wednesday morning. The brokerage issued a hold rating and a $32.00 price target on the energy company’s stock.

NFX has been the topic of several other reports. JPMorgan Chase downgraded shares of Newfield Exploration from an overweight rating to a neutral rating and set a $37.00 target price on the stock. in a research report on Friday, December 15th. BMO Capital Markets reissued a hold rating and issued a $36.00 target price on shares of Newfield Exploration in a research report on Sunday, January 14th. B. Riley initiated coverage on shares of Newfield Exploration in a research report on Monday, February 5th. They issued a buy rating and a $46.00 target price on the stock. Morgan Stanley lifted their target price on shares of Newfield Exploration from $33.00 to $37.00 and gave the stock an equal weight rating in a research report on Wednesday, January 24th. Finally, Cowen set a $40.00 target price on shares of Newfield Exploration and gave the stock a buy rating in a research report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $37.30.

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Shares of NFX opened at $24.25 on Wednesday. The company has a market capitalization of $4,925.15, a PE ratio of 11.28, a price-to-earnings-growth ratio of 0.70 and a beta of 1.53. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.89 and a current ratio of 0.91. Newfield Exploration has a 12-month low of $22.72 and a 12-month high of $37.43.

Newfield Exploration (NYSE:NFX) last released its earnings results on Tuesday, February 20th. The energy company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.11. The business had revenue of $509.00 million for the quarter, compared to the consensus estimate of $497.95 million. Newfield Exploration had a net margin of 24.17% and a return on equity of 35.57%. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period last year, the firm posted $0.49 earnings per share. research analysts forecast that Newfield Exploration will post 3.02 EPS for the current fiscal year.

In other Newfield Exploration news, insider Lee K. Boothby sold 12,000 shares of Newfield Exploration stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $31.75, for a total value of $381,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas G. Ricks bought 8,250 shares of Newfield Exploration stock in a transaction on Thursday, March 1st. The stock was acquired at an average price of $23.78 per share, with a total value of $196,185.00. Following the completion of the purchase, the director now directly owns 66,447 shares of the company’s stock, valued at $1,580,109.66. The disclosure for this purchase can be found here. Insiders own 0.54% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of NFX. Janus Henderson Group PLC lifted its stake in Newfield Exploration by 3,994.5% in the third quarter. Janus Henderson Group PLC now owns 1,899,262 shares of the energy company’s stock valued at $56,351,000 after acquiring an additional 1,852,876 shares during the last quarter. Prudential Financial Inc. lifted its stake in Newfield Exploration by 26.9% in the third quarter. Prudential Financial Inc. now owns 4,114,290 shares of the energy company’s stock valued at $122,071,000 after acquiring an additional 872,434 shares during the last quarter. OppenheimerFunds Inc. lifted its stake in Newfield Exploration by 210.1% in the fourth quarter. OppenheimerFunds Inc. now owns 1,002,611 shares of the energy company’s stock valued at $31,612,000 after acquiring an additional 679,300 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Newfield Exploration by 110.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,278,674 shares of the energy company’s stock valued at $37,938,000 after acquiring an additional 671,123 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Newfield Exploration by 580.2% in the fourth quarter. Allianz Asset Management GmbH now owns 738,431 shares of the energy company’s stock valued at $23,283,000 after acquiring an additional 629,872 shares during the last quarter. Hedge funds and other institutional investors own 99.82% of the company’s stock.

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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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