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Newfield Expl (NYSE:NFX) Rating was Upgraded by Analysts at BofA Merrill to a “Buy” Rating

Banc of America Analyst Rating Change Newfield Expl NYSE:NFX

Newfield Expl (NYSE:NFX) Rating Upped

In a research note issued on Thursday, 4 January, BofA Merrill has boosted Newfield Expl (NYSE:NFX) stock to “Buy”. NFX’s old rating was “Neutral”.

The stock upgrade is welcomed by stock investors, as NYSE:NFX is at the moment trading 2.92% higher at $29.58 as of 8:06 AM New York time. Newfield Expl shares have [From2] 0% over the past 200 days, while the Standard & Poor’s 500 index has gained 6.00% for the same time.

Out of 33 brokers covering Newfield Expl, 28 rate it a Buy, 6 indicate a Hold while 0 suggest a Sell. The highest target is $56 and the lowest is $35 according to Thomson/First Call. The 12-month mean target is $46.12, which means upside potential of 55.92% over the current price.

Institutional Ownership

Jvl Advisors L.L.C. had the largest stake with ownership of 1.43M shares as of q2 2015 for 12.11% of the US long equity exposure. Conatus Capital Management Lp is another quite bullish fund who is possessing 2.04M shares of Newfield Expl or 5.78% of their US long equity exposure. In addition, Mitchell Group Inc have 5.21% of their US long equity exposure invested in the company for 1.22M shares. The Texas-based fund Brenham Capital Management L.P. revealed it had bought so far a stake worth about 5.16% of the fund’s stock portfolio in Newfield Expl. The New York-based fund Vollero Beach Capital Partners Llc is also positive about the stock, possessing 1.00M shares or 5.11% of their US long equity exposure.

Newfield Expl (NYSE:NFX) Profile

Newfield Exploration CoNewfield Exploration Company is an independent exploration and production company. It is engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. Its operating segments are the United States and China.

Newfield Expl (NYSE:NFX) traded up 2.92% on 4 January, hitting $29.58. A total of 1.26M shares of the company’s stock traded hands. This is down from average of 2.32M shares. Newfield Expl has a 52 week low of $24.41 and a 52 week high of $45.21. The company has a market cap of $5.90B and a P/E ratio of 17.14.

Get the latest Newfield Expl (NYSE:NFX) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

The post Newfield Expl (NYSE:NFX) Rating was Upgraded by Analysts at BofA Merrill to a “Buy” Rating appeared first on Octafinance.

This post first appeared on Octafinance – Financial News, Reports And Intell, please read the originial post: here

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Newfield Expl (NYSE:NFX) Rating was Upgraded by Analysts at BofA Merrill to a “Buy” Rating


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