Newfield Exploration Company (NFX) Shares are Down -1.02%

Newfield Exploration Company (NFX) has risen sharply, recording gains of 4.43% in the past 4 weeks. However, the stock has corrected -1.02% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 4.04% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.

Newfield Exploration Co. is up 14.2% in the last 3-month period. Year-to-Date the stock performance stands at 42.51%. The stock has recorded a 20-day Moving Average of 3.76% and the 50-Day Moving Average is 6.77%.


Newfield Exploration Company (NYSE:NFX): The stock opened at $46.58 on Friday but the bulls could not build on the opening and the stock topped out at $46.61 for the day. The stock traded down to $45.94 during the day, due to lack of any buying support eventually closed down at $46.40 with a loss of -0.81% for the day. The stock had closed at $46.78 on the previous day. The total traded volume was 1,947,301 shares.

Also, In the latest statement by the brokerage house, Citigroup maintains its outlook on Newfield Exploration Company (NYSE:NFX). The current rating of the shares is Neutral, according to the research report released by the firm. The brokerage firm raises the price target from $42 per share to $50 per share. The rating by the firm was issued on August 9, 2016.

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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