Short Term Price Target on Newfield Exploration Company (NFX)

Newfield Exploration Company (NYSE:NFX) : 20 investment research analysts covering Newfield Exploration Company (NYSE:NFX) have an average price target of $44.9 for the near short term. The highest target price given by the Brokerage Firm to the stock is $51 and the lowest target is $35 for the short term. Analysts expect the variance to be within $4.52 of the average price.

Shares of Newfield Exploration Co. rose by 2.91% in the last five trading days and 10.51% for the last 4 weeks. Newfield Exploration Co. is up 35.4% in the last 3-month period. Year-to-Date the stock performance stands at 35.69%. Also, In a research note released to the investors, Barclays maintains its rating on Newfield Exploration Company (NYSE:NFX).The analysts at the brokerage house have a current rating of Overweight on the shares. In a recent information released to the investors, Barclays raises the new price target from $28 per share to $35 per share. The rating by the firm was issued on June 24, 2016.

Newfield Exploration Company (NYSE:NFX) : The consensus on Newfield Exploration Company (NYSE:NFX) based on 23 analyst recommendation on the company stock is 1.26, which is interpreted as a Strong Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 19 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 2 analyst believes that the stock is a Buy, which can produce decent returns in the future. 2 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Newfield Exploration Company (NYSE:NFX): The stock opened at $44.40 on Thursday but the bulls could not build on the opening and the stock topped out at $44.45 for the day. The stock traded down to $43.55 during the day, due to lack of any buying support eventually closed down at $44.18 with a loss of -0.79% for the day. The stock had closed at $44.53 on the previous day. The total traded volume was 4,162,216 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.

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