Newfield Exploration Company (NFX) : 23 analysts are covering Newfield Exploration Company (NFX) and their average rating on the stock is 1.35, which is read as a Strong Buy. 18 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Newfield Exploration Company (NFX) also receives 2 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 2, which recommends a Buy affirms that they expect a large upside in the stock from the current levels. A total of 3 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Newfield Exploration Company (NFX) : 20 investment research analysts covering Newfield Exploration Company (NFX) have an average price target of $49.65 for the near short term. The highest target price given by the Brokerage Firm to the stock is $65 and the lowest target is $41 for the short term. Analysts expect the variance to be within $5.71 of the average price.
For the current week, the company shares have a recommendation consensus of Buy. Newfield Exploration Company (NYSE:NFX): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $45.76 and $45.60 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $47.49. The buying momentum continued till the end and the stock did not give up its gains. It closed at $47.21, notching a gain of 4.06% for the day. The total traded volume was 3,901,912 . The stock had closed at $45.37 on the previous day.
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.