Scotiabank Thinks Newfield’s Stock is Going to Recover

By Jason Carr

In a report released yesterday, Peter Kissel from Scotiabank maintained a Buy rating on Newfield (NYSE: NFX), with a price target of $39. The company’s shares opened today at $28.77, close to its 52-week high of $50.

According to TipRanks.com, Kissel is ranked 0 out of 5 stars with an average return of -15.7% and a 22.4% success rate. Kissel covers the Basic Materials sector, focusing on stocks such as Wildhorse Resource Development Corp, National Fuel Gas Company, and Evolution Petroleum Corp.

Currently, the analyst consensus on Newfield is Moderate Buy and the average price target is $43.36, representing a 50.7% upside.

In a report issued on June 26, BMO Capital also reiterated a Buy rating on the stock with a $34 price target.

The company has a one year high of $50 and a one year low of $27.22. Currently, Newfield has an average volume of 2.92M.

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Newfield Exploration Co. is an independent oil and gas exploration and production 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.