Price Target Update on Newfield Exploration Company (NYSE:NFX)

Newfield Exploration Company (NYSE:NFX) : The highest short term price target forecast on Newfield Exploration Company (NYSE:NFX) is $50 and the lowest target price is $28. A total of 20 equity analysts are currently covering the company. The average price of all the analysts is $43.45 with a standard deviation of $5.32.

Other Equity analysts have also commented on the company shares. Major Brokerage house, Deutsche Bank maintains its ratings on Newfield Exploration Company (NYSE:NFX). In the latest research report, Deutsche Bank raises the target price from $43 per share to $47 per share. According to the latest information available, the shares are now rated Buy by the analysts at the agency. The rating by the firm was issued on June 14, 2016.

Newfield Exploration Company (NYSE:NFX): stock turned positive on Thursday. Though the stock opened at $43.76, the bulls momentum made the stock top out at $44.08 level for the day. The stock recorded a low of $42.64 and closed the trading day at $42.93, in the green by 0.12%. The total traded volume for the day was 4,209,635. The stock had closed at $42.88 in the previous days trading.

The company shares have rallied 13.95% from its 1 Year high price. On Jun 22, 2016, the shares registered one year high at $43.11 and the one year low was seen on Feb 19, 2016. The 50-Day Moving Average price is $39.67 and the 200 Day Moving Average price is recorded at $33.01. On the companys insider trading activities,The (President and CEO) of Newfield Exploration Co /De/, Boothby Lee K sold 50,000 shares at $40.95 on May 26, 2016. The Insider selling transaction had a total value worth of $2,047,500. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Newfield Exploration Company (Newfield) is an independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The Companys principal areas of operation are oil and liquids-rich resource plays in the Mid-Continent, Rocky Mountains and onshore Gulf Coast regions of the United States. The Company operates through two segments: the United States and China. Approximately 46% of the Companys proved reserves are located in Mid-Continent region. The Companys assets consist of more than 400,000 net acres in the Anadarko and Arkoma basins. Approximately 43% of its proved reserves are located in the Rocky Mountains region. The Company has approximately 92,000 net acres in the Williston Basin. The Company has approximately 225,000 net acres in the Uinta Basin. About 7% of the Companys proved reserves are located in the onshore Gulf Coast region. Approximately 4%, of the Companys proved reserves are located in China.

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