Newfield Exploration Company (NFX) Receives ‘Analyst’ Rating

Newfield Exploration Company (NFX) : Zacks Investment Research ranks Newfield Exploration Company (NFX) as 3, which is a Hold recommendation. 17 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 other analysts are mildly bullish on the stock and favor a Buy. A total of 3 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 22 research analysts is 1.36, which indicates as a Strong Buy.

Newfield Exploration Company (NFX) : The most positive equity analysts on Newfield Exploration Company (NFX) expects the shares to touch $65, whereas, the least positive believes that the stock will trade at $42 in the short term. The company is covered by 20 Wall Street Brokerage Firms. The average price target for shares are $51.9 with an expected fluctuation of $6.6 from the mean.


Also, Williams Capital Group initiates coverage on Newfield Exploration Company (NYSE:NFX). The rating major has initiated the coverage with buy rating on the shares. The Analysts at Williams Capital Group announces a current price target of $58 per share. The rating by the firm was issued on August 29, 2016.

Newfield Exploration Company (NYSE:NFX): After opening at $40.99, the stock dipped to an intraday low of $40.88 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $42.04 and the buying power remained strong till the end. The stock closed at $41.17 for the day, a gain of 1.28% for the day session. The total traded volume was 2,654,759. The stocks close on the previous trading day was $40.65.

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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