Morgan Stanley analyst Devin McDermott maintained a Hold rating on Newfield (NYSE: NFX) today and set a price target of $31. The company’s shares closed yesterday at $25.18.
According to TipRanks.com, McDermott is a 2-star analyst with an average return of 1.7% and a 31.8% success rate. McDermott covers the Basic Materials sector, focusing on stocks such as Range Resources Corp, Gulfport Energy Corp, and Occidental Petroleum.
Currently, the analyst consensus on Newfield is a Moderate Buy with an average price target of $37.14.
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Based on Newfield’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $679 million and net profit of $119 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 51 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.
