Price Action Don’t Lie: Newfield Exploration Co.’s Trend Up, Especially After Today’s Strong Session

Price Action Don't Lie: Newfield Exploration Co.'s Trend Up, Especially After Today's Strong Session

The stock of Newfield Exploration Co. (NYSE:NFX) is a huge mover today! About 3.18M shares traded hands or 6.35% up from the average. Newfield Exploration Co. (NYSE:NFX) has risen 2.36% since April 27, 2016 and is uptrending. It has underperformed by 2.87% the S&P500.
The move comes after 9 months positive chart setup for the $8.72B company. It was reported on Nov, 30 by We have $48.67 PT which if reached, will make NYSE:NFX worth $784.80M more.

Analysts await Newfield Exploration Co. (NYSE:NFX) to report earnings on February, 22. They expect $0.34 earnings per share, up 13.33% or $0.04 from last year’s $0.3 per share. NFX’s profit will be $66.39 million for 32.84 P/E if the $0.34 EPS becomes a reality. After $0.24 actual earnings per share reported by Newfield Exploration Co. for the previous quarter, Wall Street now forecasts 41.67% EPS growth.

Newfield Exploration Co. (NYSE:NFX) Ratings Coverage

Out of 24 analysts covering Newfield Exploration Co. (NYSE:NFX), 15 rate it a “Buy”, 0 “Sell”, while 9 “Hold”. This means 63% are positive. Newfield Exploration Co. has been the topic of 53 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Newfield Exploration Co. (NYSE:NFX) has “Sector Outperform” rating given on Monday, December 14 by Howard Weil. The rating was maintained by Stifel Nicolaus on Friday, October 9 with “Buy”. As per Wednesday, March 23, the company rating was initiated by Topeka Capital Markets. The firm has “Neutral” rating by Citigroup given on Monday, September 14. Goldman Sachs downgraded Newfield Exploration Co. (NYSE:NFX) on Thursday, November 19 to “Neutral” rating. KLR Group downgraded the shares of NFX in a report on Friday, August 5 to “Hold” rating. Wunderlich initiated the shares of NFX in a report on Wednesday, April 27 with “Buy” rating. The company was initiated on Monday, October 31 by Morgan Stanley. JP Morgan initiated the shares of NFX in a report on Wednesday, December 9 with “Overweight” rating. As per Thursday, January 21, the company rating was initiated by Imperial Capital.

According to Zacks Investment Research, “Newfield Exploration Company explores, develops and acquires oil and natural gas properties primarily in the Gulf of Mexico. The company plans to continue to expand its reserve base and increase cash flow through the exploration and development of existing properties and the acquisition of proved properties with drilling upside. The company emphasizes: reserve growth through exploratory drilling, balance between exploration and the acquisition and exploitation of proved properties, strong geographic focus, control of operations/low cost structure, and use of 3-D seismic.”

Insitutional Activity: The institutional sentiment decreased to 1.05 in Q2 2016. Its down 0.49, from 1.54 in 2016Q1. The ratio turned negative, as 37 funds sold all Newfield Exploration Co. shares owned while 114 reduced positions. 82 funds bought stakes while 151 increased positions. They now own 197.02 million shares or 0.26% less from 197.54 million shares in 2016Q1.
Caisse De Depot Et Placement Du Quebec holds 141,300 shares or 0.02% of its portfolio. Moreover, Fil has 0.08% invested in Newfield Exploration Co. (NYSE:NFX) for 580,727 shares. Cannell Peter B Company owns 35,618 shares or 0.06% of their US portfolio. Commonwealth Equity Ser holds 0% or 7,912 shares in its portfolio. Blackrock accumulated 802,862 shares or 0.05% of the stock. Checchi Cap Advisers Ltd Liability, a California-based fund reported 367 shares. Price T Rowe Assoc Incorporated Md holds 0% of its portfolio in Newfield Exploration Co. (NYSE:NFX) for 365,880 shares. Lpl Finance Limited Liability Corporation reported 17,481 shares or 0.01% of all its holdings. Visium Asset Mgmt Ltd Partnership has 0.14% invested in the company for 44,012 shares. Raveneur Investment Group Inc Lp holds 3.58% of its portfolio in Newfield Exploration Co. (NYSE:NFX) for 295,750 shares. Brc Investment Mgmt Ltd has 0.55% invested in the company for 71,332 shares. Moreover, Fmr Ltd Limited Liability Company has 0.08% invested in Newfield Exploration Co. (NYSE:NFX) for 13.83M shares. Moreover, Point72 Asia (Hong Kong) Ltd has 0.34% invested in Newfield Exploration Co. (NYSE:NFX) for 6,680 shares. Comm Savings Bank has invested 0% of its portfolio in Newfield Exploration Co. (NYSE:NFX). Fund Mngmt last reported 30,858 shares in the company.

Insider Transactions: Since August 8, 2016, the stock had 0 insider purchases, and 2 insider sales for $586,591 net activity. $92,771 worth of Newfield Exploration Co. (NYSE:NFX) was sold by Romans Juanita F. On Wednesday, August 17 the insider Gardner Pamela J sold $493,820.

NFX Company Profile

Newfield Exploration Company (Newfield), incorporated on December 5, 1988, is an independent energy firm engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids (NGLs). The Company’s activities are focused primarily on large scale, onshore liquids-rich resource plays in the United States. The Company’s divisions are the United States and China. The Company’s principal areas of operation are the Anadarko and Arkoma Basins of Oklahoma, the Williston Basin of North Dakota, the Uinta Basin of Utah and the Maverick, and Gulf Coast basins of Texas. In addition, it has oil developments offshore China. The Company’s proved reserves of approximately 510 million barrels of oil equivalents (MMBOE) consist of over 310 MMBOE proved developed producing, over 20 MMBOE proved developed non-producing and over 180 MMBOE proved undeveloped reserves. The Company’s proved liquids reserves are approximately 290 million barrels. Over 71% of its proved liquid reserves are crude oil or condensate. The Company’s proved natural gas reserves are approximately 1,305 billion cubic feet (Bcf). The Firm owns mineral interests in over 454,000 gross and 113,000 net acres.

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