The stock of Newfield Exploration Co. (NYSE:NFX) is a huge mover today! About 1.29 million shares traded hands. Newfield Exploration Co. (NYSE:NFX) has risen 26.99% since March 16, 2016 and is uptrending. It has outperformed by 21.45% the S&P500.
The move comes after 7 months positive chart setup for the $8.76 billion company. It was reported on Oct, 19 by Barchart.com. We have $72.93 PT which if reached, will make NYSE:NFX worth $5.61B more.
Analysts await Newfield Exploration Co. (NYSE:NFX) to report earnings on November, 1. They expect $0.29 EPS, up 38.10% or $0.08 from last year’s $0.21 per share. NFX’s profit will be $57.13 million for 38.34 P/E if the $0.29 EPS becomes a reality. After $0.32 actual EPS reported by Newfield Exploration Co. for the previous quarter, Wall Street now forecasts -9.38% negative EPS growth.
Newfield Exploration Co. (NYSE:NFX) Ratings Coverage
Out of 22 analysts covering Newfield Exploration Co. (NYSE:NFX), 14 rate it a “Buy”, 0 “Sell”, while 8 “Hold”. This means 64% are positive. Newfield Exploration Co. has been the topic of 51 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Cowen & Co initiated Newfield Exploration Co. (NYSE:NFX) rating on Tuesday, July 21. Cowen & Co has “Market Perform” rating and $30 price target. The rating was maintained by Citigroup on Monday, September 14 with “Neutral”. The stock of Newfield Exploration Co. (NYSE:NFX) has “Buy” rating given on Tuesday, June 14 by Deutsche Bank. The firm has “Buy” rating given on Monday, August 29 by Williams Capital Group. The firm has “Overweight” rating given on Wednesday, December 9 by JP Morgan. The firm has “Buy” rating by Suntrust Robinson given on Friday, February 26. The firm has “Neutral” rating given on Thursday, December 17 by SunTrust. The stock has “Buy” rating given by Stifel Nicolaus on Friday, October 9. The firm has “Neutral” rating by Citigroup given on Tuesday, August 9. Barclays Capital downgraded Newfield Exploration Co. (NYSE:NFX) rating on Friday, August 5. Barclays Capital has “Equal-Weight” rating and $44 price target.
According to Zacks Investment Research, “Newfield Exploration Company explores, develops and acquires oil and natural gas properties primarily in the Gulf of Mexico. The company plans to continue to expand its reserve base and increase cash flow through the exploration and development of existing properties and the acquisition of proved properties with drilling upside. The company emphasizes: reserve growth through exploratory drilling, balance between exploration and the acquisition and exploitation of proved properties, strong geographic focus, control of operations/low cost structure, and use of 3-D seismic.”
Insitutional Activity: The institutional sentiment increased to 1.54 in Q2 2016. Its up 0.03, from 1.51 in 2016Q1. The ratio increased, as 37 funds sold all Newfield Exploration Co. shares owned while 114 reduced positions. 82 funds bought stakes while 151 increased positions. They now own 197.02 million shares or 0.26% less from 197.54 million shares in 2016Q1.
Rainier Management Ltd Llc has 1.98% invested in the company for 927,950 shares. The New Jersey-based State Of New Jersey Common Pension Fund D has invested 0.02% in Newfield Exploration Co. (NYSE:NFX). Teacher Retirement Systems Of Texas owns 196,782 shares or 0.06% of their US portfolio. Moreover, Asset Inc has 0% invested in Newfield Exploration Co. (NYSE:NFX) for 900 shares. Bb&T Secs Ltd Liability Corporation last reported 97,257 shares in the company. Cap Fund Sa accumulated 30,858 shares or 0.01% of the stock. Archford Strategies Ltd Liability Company accumulated 0% or 170 shares. M&T Comml Bank has invested 0.01% of its portfolio in Newfield Exploration Co. (NYSE:NFX). Credit Suisse Ag owns 397,851 shares or 0.02% of their US portfolio. State Of Tennessee Treasury Department has 100,479 shares for 0.02% of their US portfolio. Castleark Management Lc reported 81,310 shares or 0.11% of all its holdings. Sei Invests has invested 0.07% of its portfolio in Newfield Exploration Co. (NYSE:NFX). Gemmer Asset Mgmt Limited Liability Corp owns 218 shares or 0.01% of their US portfolio. Jag Limited Liability Corporation has invested 1.26% of its portfolio in Newfield Exploration Co. (NYSE:NFX). Aberdeen Asset Management Public Ltd Co Uk owns 35,671 shares or 0.01% of their US portfolio.
Insider Transactions: Since May 6, 2016, the stock had 1 buy, and 7 selling transactions for $5.21 million net activity. The insider Boothby Lee K sold $2.05 million. Gardner Pamela J sold $493,820 worth of Newfield Exploration Co. (NYSE:NFX) on Wednesday, August 17. Packer Gary D also sold $303,432 worth of Newfield Exploration Co. (NYSE:NFX) shares. Another trade for 8,200 shares valued at $328,329 was sold by Fairchild George W Jr. On Wednesday, May 18 PLANK ROGER B bought $39,219 worth of the stock or 1,000 shares. Campbell Stephen C had sold 25,606 shares worth $963,618. Shares for $1.02 million were sold by Jasek John H on Thursday, May 26.
Another recent and important Newfield Exploration Co. (NYSE:NFX) news was published by Prnewswire.com which published an article titled: “Newfield closes on the sale of its Texas assets for approximately $380 million” on September 27, 2016.
NFX Company Profile
Newfield Exploration Company (Newfield), incorporated on December 5, 1988, is an independent energy firm engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids (NGLs). The Company’s activities are focused primarily on large scale, onshore liquids-rich resource plays in the United States. The Company’s divisions are the United States and China. The Company’s principal areas of operation are the Anadarko and Arkoma Basins of Oklahoma, the Williston Basin of North Dakota, the Uinta Basin of Utah and the Maverick, and Gulf Coast basins of Texas. In addition, it has oil developments offshore China. The Company’s proved reserves of approximately 510 million barrels of oil equivalents (MMBOE) consist of over 310 MMBOE proved developed producing, over 20 MMBOE proved developed non-producing and over 180 MMBOE proved undeveloped reserves. The Company’s proved liquids reserves are approximately 290 million barrels. Over 71% of its proved liquid reserves are crude oil or condensate. The Company’s proved natural gas reserves are approximately 1,305 billion cubic feet (Bcf). The Firm owns mineral interests in over 454,000 gross and 113,000 net acres.
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