Yahoo Finance What Do Analysts Recommend for NFX after Its 1Q16 Results?
Why Newfield Exploration's Stock Fell despite Its Earnings Beat
Analysts’ recommendations for Newfield Exploration
Following Newfield Exploration’s (NFX) 1Q16 earnings, Wall Street analysts updated their target prices for the company for the next 12 months.
Consensus rating for Newfield Exploration
Approximately 82% of analysts rated NFX as a “buy,” and ~18% rated it as a “hold.” The average broker target price of $39.99 for NFX implies a return of around 15% over the next 12 months.
Upstream peers Apache (APA), Hess (HES), and EP Energy (EPE) have average broker target prices of ~$48.86, $61.88, and ~$4.08, respectively. These figures imply returns of -6.2%, ~9%, and -7.5%, respectively, in the next 12 months.
The high, low, and median analyst target prices for Newfield Exploration are $56, $28, and $45, respectively.
Newfield Exploration is a component of the Energy Select Sector SPDR ETF (XLE). XLE invests ~0.5% of its portfolio in the company. NFX is also a component of the SPDR S&P Oil & Gas Exploration & Production ETF (XOP), which invests 2% of its portfolio in the company.
Analysts’ target prices for NFX
IBERIA Capital Partners gave NFX one of the most optimistic target prices of $45, implying a return of around 30% in the next 12 months.
RBC Capital Markets also gave NFX an optimistic target price of $44, implying a return of around ~27% in the next 12 months.
Evercore ISI and BMO Capital Markets gave NFX lower target prices of $36 and $35, respectively, implying returns of around ~4% and 1%, respectively, in the next 12 months.
For a detailed overview of Newfield Exploration, read Market Realist’s Can the Anadarko Basin Turn Newfield Exploration Around in 2016?
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