Johnson Rice Initiates Coverage on Newfield Exploration Co. to Buy

Johnson Rice Initiates Coverage on Newfield Exploration Co.(NYSE:NFX). The shares have been rated Buy. The rating by Johnson Rice was issued on Jul 28, 2016.

In a different note, Canaccord Genuity said it Initiates Coverage on Newfield Exploration Co., according to a research note issued on Jun 29, 2016. The shares have been rated ‘Buy’ by the firm. On Jun 24, 2016, Barclays said it Maintains its rating on Newfield Exploration Co.. In the research note, the firm Raises the price-target to $28.00 per share. The shares have been rated ‘Overweight’ by the firm. On Jun 14, 2016, Deutsche Bank said it Maintains its rating on Newfield Exploration Co.. In the research note, the firm Raises the price-target to $43.00 per share. The shares have been rated ‘Buy’ by the firm. On May 16, 2016, KLR Group said it Downgrades its rating on Newfield Exploration Co.. The shares have been rated ‘Accumulate’ by the firm. On May 5, 2016, Imperial Capital said it Maintains its rating on Newfield Exploration Co.. In the research note, the firm Raises the price-target to $33.00 per share. The shares have been rated ‘Outperform’ by the firm. On May 5, 2016, Citigroup said it Maintains its rating on Newfield Exploration Co.. In the research note, the firm Raises the price-target to $36.00 per share. The shares have been rated ‘Neutral’ by the firm.

Newfield Exploration Co. (NFX) made into the market gainers list on Thursdays trading session with the shares advancing 2.28% or 1.02 points. Due to strong positive momentum, the stock ended at $45.68, which is also near the day’s high of $46.62. The stock began the session at $44.44 and the volume stood at 53,44,055 shares. The 52-week high of the shares is $46.62 and the 52 week low is $20.84. The company has a current market capitalization of $9,067 M and it has 19,84,85,340 shares in outstanding.

Newfield Exploration Co.(NFX) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $284.00M. Analysts had an estimated revenue of $343.41M. Earnings per share were $-0.09. Analysts had estimated an EPS of $-0.12.

Several Insider Transactions has been reported to the SEC. On Jun 27, 2016, Matthew R Vezza (VP-Western Region) sold 4,600 shares at $43.17 per share price.Also, 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.

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