Stock of The Day: Is Buying Newfield Exploration Co. Here a Winning Strategy?

Stock of The Day: Is Buying Newfield Exploration Co. Here a Winning Strategy?

The stock of Newfield Exploration Co. (NYSE:NFX) is a huge mover today! About 1.27M shares traded hands. Newfield Exploration Co. (NYSE:NFX) has risen 9.92% since April 13, 2016 and is uptrending. It has outperformed by 5.99% the S&P500.
The move comes after 8 months positive chart setup for the $8.06B company. It was reported on Nov, 15 by Barchart.com. We have $55.27 PT which if reached, will make NYSE:NFX worth $3.14 billion more.

Newfield Exploration Co. (NYSE:NFX) Ratings Coverage

Out of 24 analysts covering Newfield Exploration Co. (NYSE:NFX), 15 rate it a “Buy”, 0 “Sell”, while 9 “Hold”. This means 63% are positive. Newfield Exploration Co. has been the topic of 53 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Thursday, June 30, the company rating was maintained by Imperial Capital. The stock of Newfield Exploration Co. (NYSE:NFX) earned “Sector Outperform” rating by Howard Weil on Monday, December 14. Barclays Capital maintained it with “Overweight” rating and $28 target price in Thursday, March 17 report. Canaccord Genuity initiated the shares of NFX in a report on Wednesday, June 29 with “Buy” rating. The rating was maintained by Citigroup on Tuesday, August 9 with “Neutral”. As per Monday, August 29, the company rating was initiated by Williams Capital Group. Evercore downgraded the shares of NFX in a report on Friday, October 14 to “Hold” rating. JP Morgan initiated Newfield Exploration Co. (NYSE:NFX) on Wednesday, December 9 with “Overweight” rating. Goldman Sachs downgraded it to “Neutral” rating and $41 target price in Thursday, November 19 report. Wells Fargo upgraded the shares of NFX in a report on Monday, January 11 to “Outperform” 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.
Moreover, Tower Rech Cap Ltd Liability Corp (Trc) has 0% invested in Newfield Exploration Co. (NYSE:NFX) for 115 shares. Invesco holds 0.03% or 1.61 million shares in its portfolio. Element Capital Management Limited Co last reported 10,058 shares in the company. Fifth Third Bank holds 0.01% or 30,607 shares in its portfolio. Brc Inv Management Limited Liability accumulated 0.55% or 71,332 shares. Carlson Capital Limited Partnership, a Texas-based fund reported 928,535 shares. Utd Ser Automobile Association has 0.01% invested in the company for 61,553 shares. Cibc Asset Mngmt holds 0.01% of its portfolio in Newfield Exploration Co. (NYSE:NFX) for 18,178 shares. Fayez Sarofim And Commerce last reported 0.03% of its portfolio in the stock. Geneva Advsr Limited Liability Company reported 27,245 shares or 0.02% of all its holdings. Point72 Asset Mngmt Limited Partnership accumulated 201,626 shares or 0.06% of the stock. Axa accumulated 12,313 shares or 0% of the stock. Dynamic Capital Mgmt Ltd last reported 0.1% of its portfolio in the stock. Ladenburg Thalmann Financial, a Florida-based fund reported 3,208 shares. The New York-based Tiaa Cref Management Ltd Llc has invested 0.06% in Newfield Exploration Co. (NYSE:NFX).

Insider Transactions: Since May 18, 2016, the stock had 0 buys, and 5 sales for $3.96 million net activity. Boothby Lee K sold $2.05M worth of stock or 50,000 shares. Jasek John H had sold 25,000 shares worth $1.02M on Thursday, May 26. $303,432 worth of shares were sold by Packer Gary D on Friday, May 20. Fairchild George W Jr also sold $328,329 worth of Newfield Exploration Co. (NYSE:NFX) on Wednesday, May 18. The insider Romans Juanita F sold $92,771. Shares for $39,219 were bought by PLANK ROGER B. On Wednesday, August 17 the insider Gardner Pamela J sold $493,820.

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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