Is Newfield Expl (NYSE:NFX) Now a Sell? Find Out What JP Morgan Thinks

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How JP Morgan Currently Rates Newfield Expl (NYSE:NFX)

JP Morgan have initiated coverage on Newfield Expl (NYSE:NFX) shares recently in an analyst note sent to clients and investors on Wednesday morning. The brokerage has decided to place a “Overweight” rating on NFX stock.

From a total of 28 analysts covering Newfield Exploration Co. (NYSE:NFX) stock, 23 rate it a ”Buy”, 0 a “Sell”, and 9 a ”Hold”. This means that 72% of the ratings are positive. The highest target price is $56 while the lowest target price is $25. The mean of all analyst targets is $44.75 with a 18.27% above today’s ($36.18) stock price. Newfield Exploration Co. was the topic of 20 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Goldman Sachs downgraded shares on November 19 to “Neutral” rating. Citigroup maintained NFX stock in a recent report from September 14 with “Neutral” rating. Finally, Cowen & Co initiated the stock with “Market Perform” rating in a report issued on a July 21.

Approximately 718,715 shares of stock traded hands. Newfield Exploration Co. (NYSE:NFX) has declined 3.41% since May 6, 2015 and is downtrending. It has underperformed by 2.62% the S&P500.

The overall sentiment of institutions has decreased to 1.01 in Q2 2015. Its down 0.10, from 1.11 in 2015Q2. The ratio fall, as 51 institutions have sold all the shares of Newfield Exploration Co. that they owned while 121 funds have taken shares off the table. 34 funds have purchased shares for the first time while 139 added to their positions. These institutions now hold 150.67 million shares or 3.33% less than the 155.86 million shares they owned in 2015Q2.

The Fund Jvl Advisors L.L.C. currently is holding shares equating to 13.16% of its total portfolio in Newfield Exploration Co. representing a total of 1.17 million shares. Another fund,Brenham Capital Management L.P., is holding a total of 1.80 million shares equating to 12.74% of their holdings. Additionally, Tbp Investments Management Llc has a 129,000 share stake in Newfield Exploration Co. which represents 11.44% of their total portfolio. The Fund, Encompass Capital Advisors Llc, based out of New York, has also built up a stake in the stock, which represents a total of 6.12% of their total portfolio. Finally Southport Management L.L.C., a fund which is based in the state of Wyoming reported a total holdings of 90,000 shares.

Insider activity is a very important aspect to track on any stock. Going back to March 12, 2015, shareholders of Newfield Exploration Co. have witnessed 0 buys, and a total of 1 sale equating to a net activity of approximately $444,631 . Vezza Matthew R sold 11,952 shares worth approximately $444,631. Mitchell Valerie A sold 11,686 shares worth approximately $422,747. Shultz Charles E sold 2,500 shares worth approximately $91,400.

Newfield Exploration Company is an independent energy firm engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The company has a market cap of $5.91 billion. The Company’s principal areas of operation are oil and liquids-rich resource plays in the Mid-Continent, Rocky Mountains and onshore Gulf Coast regions of the United States. It currently has negative earnings. The Firm operates through two divisions: the United States and China.

According to Zacks Investment Research, “Newfield Exploration Company explores, develops and acquires oil and natural gas properties primarily in the Gulf of Mexico. The company plans to continue to expand its reserve base and increase cash flow through the exploration and development of existing properties and the acquisition of proved properties with drilling upside. The company emphasizes: reserve growth through exploratory drilling, balance between exploration and the acquisition and exploitation of proved properties, strong geographic focus, control of operations/low cost structure, and use of 3-D seismic.” Get a free copy of the Zacks research report on Newfield Exploration Co. (NFX).

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