Newfield Receives a Hold from BMO Capital

By Ryan Adsit

BMO Capital analyst Dan McSpirit reiterated a Hold rating on Newfield (NYSE: NFX) on July 9 and set a price target of $33. The company’s shares closed yesterday at $29.72.

According to TipRanks.com, McSpirit is a 3-star analyst with an average return of 4.2% and a 51.0% success rate. McSpirit covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Wildhorse Resource Development Corp, and Jagged Peak Energy Inc.

Currently, the analyst consensus on Newfield is a Strong Buy with an average price target of $40.86.

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Newfield’s market cap is currently $5.94B and has a P/E ratio of 16.24. The company has a Price to Book ratio of 3.94.

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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.