Newfield Exploration Co. (NFX) was Downgraded by KLR Group to ” Accumulate”. Earlier the firm had a rating of “Buy ” on the company shares. KLR Group advised their investors in a research report released on May 16, 2016.
Many Wall Street Analysts have commented on Newfield Exploration Co.. Company shares were Reiterated by Imperial Capital on May 5, 2016 to “Outperform”, Firm has raised the Price Target to $ 42 from a previous price target of $33 .Company shares were Reiterated by Wunderlich on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 44 from a previous price target of $42 .Company shares were Reiterated by Topeka Capital Markets on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 47 from a previous price target of $45 .
On the company’s financial health, Newfield Exploration Co. reported $-0.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 3, 2016. Analyst had a consensus of $-0.12. The company had revenue of $284.00 million for the quarter, compared to analysts expectations of $322.04 million. The company’s revenue was down -18.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.02 EPS.
Newfield Exploration Co. closed down -0.03 points or -0.08% at $38.6 with 38,17,509 shares getting traded on Friday. Post opening the session at $38.41, the shares hit an intraday low of $38.31 and an intraday high of $39.32 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on May 10, 2016, Stephen C Campbell (Vice President-Investor Rel.) sold 25,606 shares at $37.63 per share price. According to the SEC, on Nov 19, 2015, George T Dunn (Sr VP – Development) sold 20,000 shares at $41.01 per share price. On Nov 13, 2015, Valerie A Mitchell (VP-Mid-Continent) sold 10,713 shares at $38.50 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.