Seaport Global analyst Mike Kelly upgraded Newfield (NYSE: NFX) to Buy today. The company’s shares opened today at $29.53.
According to TipRanks.com, Kelly ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -2.9% and a 41.5% success rate. Kelly covers the Basic Materials sector, focusing on stocks such as Antero Midstream Partners, Whiting Petroleum Corp, and Range Resources Corp.
Currently, the analyst consensus on Newfield is Strong Buy and the average price target is $37.22, representing a 26.0% upside.
In a report issued on May 21, Williams Capital also reiterated a Buy rating on the stock with a $44 price target.
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Based on Newfield’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $580 million and net profit of $86 million. In comparison, last year the company earned revenue of $417 million and had a net profit of $147 million.
Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NFX in relation to earlier this year.
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.
