Large Inflow of Money Detected in Newfield Exploration Company

Newfield Exploration Company (NFX) : Investors lapped up stocks on upticks to the tune of $7.02 million in the Wednesdays trading session. The trading value on downticks was comparatively at $5.93 million and the uptick to downtick ratio of 1.18 indicates continuous buying by the bulls. The net money flow into the stock was $1.1 million. Upticks saw transactions worth $0.73 clearly indicating buying by large investors. The total money flow for block trades stood at $0.73 million, which is a positive for the stock in the long-term. Newfield Exploration Company (NFX) fell $0.06 during the day at $43.75, a drop of -0.14% over the previous days close. However, for the week, the stock is -1.73%, compared to the previous week.


Also, Canaccord Genuity initiates coverage on Newfield Exploration Company (NYSE:NFX). The rating major has initiated the coverage with buy rating on the shares. The Analysts at Canaccord Genuity announces a current price target of $48 per share. The rating by the firm was issued on June 29, 2016.

Newfield Exploration Company (NYSE:NFX): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $43.38 and $42.87 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $44.55. The buying momentum continued till the end and the stock did not give up its gains. It closed at $44.42, notching a gain of 1.39% for the day. The total traded volume was 2,488,278 . The stock had closed at $43.81 on the previous day.

The stock has recorded a 20-day Moving Average of 2.3% and the 50-Day Moving Average is 7.56%. In a related news, The Securities and Exchange Commission has divulged that Vezza Matthew R, (Vp-Western Region) of NEWFIELD EXPLORATION CO /DE/, had unloaded 4,600 shares at an average price of $43.17 in a transaction dated on June 23, 2016. The total value of the transaction was worth $198,582.

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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