Newfield Exploration Co. (NFX) was Downgraded by KLR Group to ” Hold”. Earlier the firm had a rating of “Accumulate ” on the company shares. KLR Group advised their investors in a research report released on Aug 5, 2016.
Many Wall Street Analysts have commented on Newfield Exploration Co.. Company shares were Reiterated by Stifel on Aug 4, 2016 to “Buy”, Firm has raised the Price Target to $ 51 from a previous price target of $48 .Company shares were Reiterated by Wunderlich on Aug 4, 2016 to “Buy”, Firm has raised the Price Target to $ 65 from a previous price target of $59 .Newfield Exploration Co. was Initiated by Johnson Rice to “Buy” on Jul 28, 2016.
On the company’s financial health, Newfield Exploration Co. reported $0.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.17. The company had revenue of $381.00 million for the quarter, compared to analysts expectations of $387.42 million. The company’s revenue was down -18.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.46 EPS.
Newfield Exploration Co. opened for trading at $44.44 and hit $46.62 on the upside on Thursday, eventually ending the session at $45.68, with a gain of 2.28% or 1.02 points. The heightened volatility saw the trading volume jump to 53,44,055 shares. Company has a market cap of $9,067 M.
In a different news, on Jun 27, 2016, Matthew R Vezza (VP-Western Region) sold 4,600 shares at $43.17 per share price. According to the SEC, on May 31, 2016, Lee K Boothby (President and CEO) sold 50,000 shares at $40.95 per share price. On May 31, 2016, John H Jasek (Sr. Vice President-Operations) sold 25,000 shares at $40.93 per share price, according to the Form-4 filing with the securities and exchange commission.
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 400000 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 92000 net acres in the Williston Basin. The Company has approximately 225000 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.