Newfield Exploration Co. (NFX) was Reiterated by Scotia Howard Weil to “Sector Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 51 from a previous price target of $47 . Scotia Howard Weil advised their investors in a research report released on Jun 23, 2016.
Many Wall Street Analysts have commented on Newfield Exploration Co.. Newfield Exploration Co. was Downgraded by KLR Group to ” Accumulate” on May 16, 2016. 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 .
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. opened for trading at $39.91 and hit $40.92 on the upside on Tuesday, eventually ending the session at $40.87, with a gain of 1.84% or 0.74 points. The heightened volatility saw the trading volume jump to 24,06,231 shares. Company has a market cap of $8,112 M.
In a different news, on May 31, 2016, Lee K Boothby (President and CEO) sold 50,000 shares at $40.95 per share price. According to the SEC, on May 31, 2016, John H Jasek (Sr. Vice President-Operations) sold 25,000 shares at $40.93 per share price. On May 24, 2016, Gary D Packer (EVP and COO) sold 7,500 shares at $40.46 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.