Newfield (NFX) Receives a Hold from Williams Capital

By Jason Carr

In a report released today, Gabriele Sorbara from Williams Capital maintained a Hold rating on Newfield (NFXResearch Report), with a price target of $20. The company’s shares opened today at $16.12.

According to TipRanks.com, Sorbara has 0 stars on 0-5 star ranking scale with an average return of -11.0% and a 32.0% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Gulfport Energy Corp, Extraction Oil & Gas, and Oasis Petroleum Inc.

Newfield has an analyst consensus of Moderate Buy, with a price target consensus of $25.75, implying a 59.7% upside from current levels. In a report issued on January 29, Morgan Stanley also maintained a Hold rating on the stock with a $18 price target.

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Based on Newfield’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $711 million and net profit of $224 million. In comparison, last year the company earned revenue of $509 million and had a net profit of $95 million.

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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.