Newfield Exploration Co. (NFX) is Reiterated by Stifel to Buy, Raises Price Target to $ 51

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 $ 51 from a previous price target of $48 . Stifel advised their investors in a research report released on Aug 4, 2016.

Many Wall Street Analysts have commented on Newfield Exploration Co.. Newfield Exploration Co. was Initiated by Johnson Rice to “Buy” on Jul 28, 2016. Company shares were Reiterated by RBC Capital Mkts on Jul 11, 2016 to “Outperform”, Firm has raised the Price Target to $ 48 from a previous price target of $45 .Company shares were Resumed by Piper Jaffray on Jul 6, 2016 to “Overweight”, Firm has raised the Price Target to $ 54 from a previous price target of $50 .

On the company’s financial health, Newfield Exploration Co. reported $0.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.17. The company had revenue of $381.00 million for the quarter, compared to analysts expectations of $387.42 million. The company’s revenue was down -18.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.46 EPS.

Newfield Exploration Co. opened for trading at $41.31 and hit $41.9 on the upside on Tusday, eventually ending the session at $41.55, with a gain of 0.63% or 0.26 points. The heightened volatility saw the trading volume jump to 42,90,358 shares. Company has a market cap of $8,247 M.

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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