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Jefferies Reiterates Their Buy Rating on Newfield


Jefferies analyst Mark Lear reiterated a Buy rating on Newfield (NYSE: NFX) on July 9 and set a price target of $38. The company’s shares closed yesterday at $30.10.

According to TipRanks.com, Lear is a 3-star analyst with an average return of 2.8% and a 54.1% success rate. Lear covers the Basic Materials sector, focusing on stocks such as Jagged Peak Energy Inc, Whiting Petroleum Corp, and Continental Resources.

Currently, the analyst consensus on Newfield is a Strong Buy with an average price target of $39.20, implying a 30.2% upside from current levels. In a report issued on July 9, RBC Capital also reiterated a Buy rating on the stock with a $36 price target.

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Newfield’s market cap is currently $6.01B and has a P/E ratio of 16.45. The company has a Price to Book ratio of 3.99.

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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.