Economy

Morgan Stanley Raises Newfield Exploration Company (NYSE:NFX) Price Target to $33.00

Brokerage houses, on average, are recommending investors to buy Newfield Exploration Company (NFX)'s shares projecting a $35.93 target price. PineBridge Investments L.P. now owns 2,333 shares of the energy company's stock valued at $103,000 after buying an additional 1,767 shares during the last quarter. The sales growth rate for a stock is a measure of how the stock's sales per share (SPS) has grown over a specific period of time. Also, it has an estimated price-earnings (P/E) multiple of 13.97 and a trailing 12-month price-earnings (P/E) multiple of 19.05.

A number of other research firms have also recently commented on NFX. The mean 12-month price target for the shares is US$1.12. A stock with a beta more than 1 means high volatile and less than 1 means low volatile. Finally, BidaskClub lowered Newfield Exploration from a sell rating to a strong sell rating in a research note on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company. Stifel Nicolaus upped their price target on shares of Newfield Exploration from $48.00 to $51.00 and gave the company a "buy" rating in a report on Thursday, August 4th.

The collective rating of 2 for Newfield Exploration Company (NYSE:NFX) also leans strongly towards the neutral end of the spectrum. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of USA and global copyright and trademark legislation.

WARNING: "Public Employees Retirement System of Ohio Raises Stake in Newfield Exploration Company (NYSE:NFX)" was reported by TrueBlueTribune and is the property of of TrueBlueTribune. About shares traded. Genetic Technologies Limited (ADR) (NASDAQ:GENE) has declined 49.77% since November 8, 2016 and is downtrending. The stock had a trading volume of 3,577,068 shares, compared to its average volume of 3,010,000. Further, the firm has debt to equity ratio of 1.25, sometimes it remain same with long term debt to equity ratio. The firm has a market cap of $6,120.31, a P/E ratio of 15.25, a P/E/G ratio of 1.30 and a beta of 1.47. Vetr upgraded shares of Newfield Exploration from a "buy" rating to a "strong-buy" rating and set a $55.00 price target on the stock in a report on Tuesday, November 1st.

Newfield Exploration (NYSE:NFX) last posted its earnings results on Tuesday, October 31st. CRC has increased sales at a -17.00% CAGR over the past five years, and is considered a low growth stock. The firm's quarterly revenue was up 12.0% compared to the same quarter previous year.

Several institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its position in shares of Newfield Exploration by 203.6% in the third quarter. Atlantic Trust Group LLC now owns 253,908 shares of the energy company's stock valued at $7,226,000 after purchasing an additional 47,194 shares during the period. Mizuho Asset Management Co. Comerica Bank grew its position in Newfield Exploration by 5.1% in the 3rd quarter.

Among institutions that increased their positions, 45 were new positions. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 44,047 shares of the energy company's stock valued at $1,307,000 after buying an additional 16,389 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Newfield Exploration by 51.0% in the third quarter. Following the completion of the purchase, the director now owns 30,787 shares of the company's stock, valued at approximately $799,846.26. The stock was acquired at an average cost of $25.98 per share, for a total transaction of $77,940.00. State Treasurer State of MI now owns 65,512 shares of the energy company's stock worth $1,864,000 after purchasing an additional 200 shares during the period. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The shares were sold at an average price of $30.02, for a total transaction of $105,070.00. Insider ownership during the past year has decreased by a net of 315073 shares. When we divide the last trade volume by the 3-month average volume, we found out a relative volume of 1.24. Insider ownership during the latest quarter decreased by a net of 279497 shares, indicating that NFX's key executives are feeling more bearish about the stock than they did three months ago. Newfield Exploration Co now has $6.56 billion valuation.



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