The stock of Newfield Exploration Co. (NYSE:NFX) is a huge mover today! The stock decreased 0.97% or $0.37 during the last trading session, hitting $37.84. About 5.08M shares traded hands or 80.78% up from the average. Newfield Exploration Co. (NYSE:NFX) has risen 15.75% since April 6, 2016 and is uptrending. It has outperformed by 13.80% the S&P500.
The move comes after 9 months negative chart setup for the $7.60B company. It was reported on Nov, 8 by Barchart.com. We have $34.43 PT which if reached, will make NYSE:NFX worth $684.00M less.
Newfield Exploration Co. (NYSE:NFX) Ratings Coverage
Out of 23 analysts covering Newfield Exploration Co. (NYSE:NFX), 14 rate it a “Buy”, 0 “Sell”, while 9 “Hold”. This means 61% are positive. Newfield Exploration Co. has been the topic of 52 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “Overweight” rating on Wednesday, December 9 by JP Morgan. The firm has “Overweight” rating by JP Morgan given on Tuesday, March 15. The stock of Newfield Exploration Co. (NYSE:NFX) earned “Buy” rating by Topeka Capital Markets on Wednesday, March 23. Wunderlich initiated the stock with “Buy” rating in Wednesday, April 27 report. The rating was upgraded by Howard Weil to “Sector Outperform” on Monday, December 14. The firm has “Neutral” rating by Citigroup given on Tuesday, August 9. As per Wednesday, June 29, the company rating was initiated by Canaccord Genuity. RBC Capital Markets maintained Newfield Exploration Co. (NYSE:NFX) rating on Thursday, August 6. RBC Capital Markets has “Outperform” rating and $48 price target. Williams Capital Group initiated Newfield Exploration Co. (NYSE:NFX) rating on Monday, August 29. Williams Capital Group has “Buy” rating and $58 price target. SunTrust initiated Newfield Exploration Co. (NYSE:NFX) on Thursday, December 17 with “Neutral” rating.
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 2016 Q2. Its up 0.03, from 1.51 in 2016Q1. The ratio improved, 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.
Ent Ser holds 0% or 178 shares in its portfolio. Prudential Financial Inc has 265,131 shares for 0.02% of their US portfolio. Lucas Capital Management accumulated 1.89% or 60,500 shares. The Texas-based Texas Permanent School Fund has invested 0.04% in Newfield Exploration Co. (NYSE:NFX). The Illinois-based Alyeska Ltd Partnership has invested 0.48% in Newfield Exploration Co. (NYSE:NFX). Moreover, Gateway Inv Advisers Lc has 0.01% invested in Newfield Exploration Co. (NYSE:NFX) for 15,119 shares. Panagora Asset accumulated 0.04% or 168,297 shares. Fred Alger Management Inc last reported 11,900 shares in the company. Blackrock Management Ltd Liability holds 651,101 shares or 0.04% of its portfolio. Moreover, Ardsley Advisory Prns has 3.22% invested in Newfield Exploration Co. (NYSE:NFX) for 420,000 shares. Hilltop Hldg holds 0.43% or 30,284 shares in its portfolio. Moreover, Clearbridge Investments Limited Liability Company has 0.49% invested in Newfield Exploration Co. (NYSE:NFX) for 9.36 million shares. Exane Derivatives holds 0% or 688 shares in its portfolio. D E Shaw & Company holds 228,486 shares or 0.02% of its portfolio. Raymond James Financial Svcs Advisors owns 8,208 shares or 0% of their US portfolio.
Insider Transactions: Since May 18, 2016, the stock had 1 insider purchase, and 6 sales for $4.25 million net activity. Shares for $2.05M were sold by Boothby Lee K on Thursday, May 26. Another trade for 2,015 shares valued at $92,771 was sold by Romans Juanita F. 10,685 Newfield Exploration Co. (NYSE:NFX) shares with value of $493,820 were sold by Gardner Pamela J. 1,000 Newfield Exploration Co. (NYSE:NFX) shares with value of $39,219 were bought by PLANK ROGER B. 8,200 shares were sold by Fairchild George W Jr, worth $328,329 on Wednesday, May 18. 25,000 shares were sold by Jasek John H, worth $1.02M on Thursday, May 26. Packer Gary D also sold $303,432 worth of Newfield Exploration Co. (NYSE:NFX) on Friday, May 20.
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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