Newfield Exploration Company (NYSE:NFX) has risen sharply, recording gains of 9.93% in the past 4 weeks. However, the stock has corrected -0.11% 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 8.19% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The company shares have rallied 22.75% from its 1 Year high price. On Jun 29, 2016, the shares registered one year high at $44.79 and the one year low was seen on Feb 19, 2016. The 50-Day Moving Average price is $41.37 and the 200 Day Moving Average price is recorded at $33.73.
The stock has recorded a 20-day Moving Average of 4.97% and the 50-Day Moving Average is 9.45%.
Newfield Exploration Company (NYSE:NFX): stock turned positive on Friday. Though the stock opened at $43.34, the bulls momentum made the stock top out at $43.945 level for the day. The stock recorded a low of $42.59 and closed the trading day at $43.82, in the green by 2.45%. The total traded volume for the day was 1,831,438. The stock had closed at $42.77 in the previous days trading.
In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the (Vp-Western Region) of NEWFIELD EXPLORATION CO /DE/, Vezza Matthew R had sold 4,600 shares worth of $198,582 in a transaction dated June 23, 2016. In this transaction, 4,600 shares were sold at $43.17 per share.
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.