B.Riley FBR Thinks Newfield’s Stock is Going to Recover


B.Riley FBR analyst Rehan Rashid reiterated a Buy rating on Newfield (NFX) on November 20 and set a price target of $29. The company’s shares opened today at $17.66, close to its 52-week low of $17.61.

According to TipRanks.com, Rashid is a 3-star analyst with an average return of 2.2% and a 47.7% success rate. Rashid covers the Basic Materials sector, focusing on stocks such as Continental Resources, Lonestar Resources US, and Range Resources Corp.

Newfield has an analyst consensus of Moderate Buy, with a price target consensus of $33.33, representing an 88.7% upside. In a report issued on November 15, Piper Jaffray also reiterated a Buy rating on the stock with a $37 price target.

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The company has a one-year high of $35.20 and a one-year low of $17.61. Currently, Newfield has an average volume of 4.82M.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Newfield Exploration Co. is an independent oil and gas company. It engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids. It operates through the United States and China geographical segments. The company was founded by Joe B. Foster in 1988 and is headquartered in The Woodlands, TX.

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