In a report released today, Devin McDermott from Morgan Stanley maintained a Hold rating on Newfield (NFX), with a price target of $20. The company’s shares opened today at $18.82, close to its 52-week low of $18.34.
According to TipRanks.com, McDermott is a 2-star analyst with an average return of 1.0% and a 35.5% success rate. McDermott covers the Basic Materials sector, focusing on stocks such as Gulfport Energy Corp, Occidental Petroleum, and Range Resources Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Newfield with a $33.67 average price target.
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Based on Newfield’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $711 million and net profit of $224 million. In comparison, last year the company earned revenue of $439 million and had a net profit of $87 million.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock.
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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.
