Newfield Exploration Company (NFX) Receives Price Target

Newfield Exploration Company (NFX) stock is expected to deviate a maximum of $6.6 from the average target price of $51.9 for the short term period. 20 Street Experts have initiated coverage on the stock with the most promising target being $65 and the most muted being $42.

Newfield Exploration Company (NFX) : The consensus on Newfield Exploration Company (NFX) based on 22 analyst recommendation on the company stock is 1.36, 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, 17 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. 3 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.


Also, Equity analysts at the Brokerage firm Citigroup maintains its rating on Newfield Exploration Company (NYSE:NFX). The rating major has initiated the coverage with neutral rating on the shares. The Analysts at Citigroup 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 (NYSE:NFX): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $43.10 and $42.84 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $44.14. The buying momentum continued till the end and the stock did not give up its gains. It closed at $44.12, notching a gain of 1.75% for the day. The total traded volume was 2,191,417 . The stock had closed at $43.36 on the previous day.

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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