Newfield Exploration Company (NFX) stock is expected to deviate a maximum of $5.63 from the average target price of $47.05 for the short term period. 20 Street Experts have initiated coverage on the stock with the most promising target being $59 and the most muted being $35.
Newfield Exploration Company (NFX) encountered a rise of 6.5% or 727,458 shares in the short positions. The number escalated from 11,195,719 on June 15,2016 to 11,923,177 on June 30,2016. The final interest is 6% of the floated stock. The days to cover figure of 3 can be arrived using the average daily exchange of 4,080,149 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, Canaccord Genuity initiates coverage on Newfield Exploration Company (NYSE:NFX).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, Canaccord Genuity announces the price target of $48 per share. The rating by the firm was issued on June 29, 2016.
Newfield Exploration Company (NYSE:NFX): On Thursdays trading session , Opening price of the stock was $45.19 with an intraday high of $45.24. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $44.26. However, the stock managed to close at $44.6, a loss of 0.07% for the day. On the previous day, the stock had closed at $44.63. The total traded volume of the day was 2,155,279 shares.
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.