Newfield Exploration Co. (NFX) is Reiterated by Stifel to Buy, Raises Price Target to $ 48

Newfield Exploration Co. (NFX) was Reiterated by Stifel to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 48 from a previous price target of $44 . Stifel advised their investors in a research report released on Jun 28, 2016.

Many Wall Street Analysts have commented on Newfield Exploration Co.. Company shares were Reiterated by Scotia Howard Weil on Jun 23, 2016 to “Sector Outperform”, Firm has raised the Price Target to $ 51 from a previous price target of $47 .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 .

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 -1.39 points or -3.33% at $40.41 with 47,06,992 shares getting traded on Monday. Post opening the session at $41.27, the shares hit an intraday low of $39.935 and an intraday high of $41.56 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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 Company’s 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 Company’s proved reserves are located in Mid-Continent region. The Company’s 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 Company’s proved reserves are located in the onshore Gulf Coast region. Approximately 4% of the Company’s proved reserves are located in China.

Newfield Exploration Co.

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