Barrington Research Starts Newfield Exploration (NFX) at Outperform; Increasing the Oil Percentage of Their Total Production
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Price: $25.73 -0.35%
Rating Summary:
19 Buy, 20 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
19 Buy, 20 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barrington Research initiates coverage on Newfield Exploration (NYSE: NFX) with an Outperform. PT $44.00.
Barrington analyst said, "NFX has been making an important transition over the last several years. They are increasing the percentage of total production derived from oil and natural gas liquids and they are also being disciplined in their focus of spending within cash flow. They have two current foundational assets: Monument Butte field (Green River oily sands) and the Woodford Shale (largely natural gas). The Woodford has been expanded with the recent acquisition of the Cana properties, which have more liquids potential. The Central Basin of the Williston and the Cana could become additional foundational assets. In the next three to five years, management believes they could have five to six foundational assets."
For an analyst ratings summary and ratings history on Newfield Exploration click here. For more ratings news on Newfield Exploration click here.
Shares of Newfield Exploration closed at $32.75 yesterday.
Barrington analyst said, "NFX has been making an important transition over the last several years. They are increasing the percentage of total production derived from oil and natural gas liquids and they are also being disciplined in their focus of spending within cash flow. They have two current foundational assets: Monument Butte field (Green River oily sands) and the Woodford Shale (largely natural gas). The Woodford has been expanded with the recent acquisition of the Cana properties, which have more liquids potential. The Central Basin of the Williston and the Cana could become additional foundational assets. In the next three to five years, management believes they could have five to six foundational assets."
For an analyst ratings summary and ratings history on Newfield Exploration click here. For more ratings news on Newfield Exploration click here.
Shares of Newfield Exploration closed at $32.75 yesterday.
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