Newfield Exploration Company (NFX) : Analyst Rating Update

Newfield Exploration Company (NFX) has an average broker rating of 1.26, which is interpreted as a Strong Buy, as rated by 23 equity analysts. Nonetheless, 19 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 2 other analysts advise a Buy. Nevertheless, the majority of 2 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 2, which is also a Buy.

Newfield Exploration Company (NFX) : 20 investment research analysts covering Newfield Exploration Company (NFX) have an average price target of $44.9 for the near short term. The highest target price given by the Brokerage Firm to the stock is $51 and the lowest target is $35 for the short term. Analysts expect the variance to be within $4.52 of the average price.

Newfield Exploration Company (NYSE:NFX): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $43.15 and $42.24 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $43.68. The buying momentum continued till the end and the stock did not give up its gains. It closed at $43.32, notching a gain of 0.14% for the day. The total traded volume was 4,854,201 . The stock had closed at $43.26 on the previous day.

Also, Canaccord Genuity initiates coverage on Newfield Exploration Company (NYSE:NFX) The current rating of the shares is Buy. Equity Analysts at the Firm announces the price target to $48 per share. The rating by the firm was issued on June 29, 2016. The company shares have rallied 24.13% from its 1 Year high price. On Jun 29, 2016, the shares registered one year high at $43.30 and the one year low was seen on Feb 19, 2016. The 50-Day Moving Average price is $41.03 and the 200 Day Moving Average price is recorded at $33.49.

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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