In a report released today, Mark Lear from Jefferies reiterated a Buy rating on Newfield (NYSE: NFX), with a price target of $37. The company’s shares closed yesterday at $28.85.
According to TipRanks.com, Lear is a 3-star analyst with an average return of 1.8% and a 50.6% success rate. Lear covers the Basic Materials sector, focusing on stocks such as CNX Resources Corporation, Jagged Peak Energy Inc, and Whiting Petroleum Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Newfield with a $37.80 average price target, which is a 31.0% 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 $5.76B and has a P/E ratio of 15.77. The company has a Price to Book ratio of 3.83.
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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.
