Newfield Receives a Buy from RBC Capital

By Jason Carr

In a report issued on July 9, Scott Hanold from RBC Capital reiterated a Buy rating on Newfield (NYSE: NFX), with a price target of $36. The company’s shares closed yesterday at $30.10.

According to TipRanks.com, Hanold is a 4-star analyst with an average return of 4.2% and a 49.3% success rate. Hanold covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Contango Oil & Gas Company, and Continental Resources.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Newfield with a $39.75 average price target.

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Newfield’s market cap is currently $6.01B and has a P/E ratio of 16.45. The company has a Price to Book ratio of 3.99.

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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.