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Newfield Exploration Co. (NYSE:NFX) target price bumped up to $48.00, released a ratings update earlier today by Zacks Investment Research

Yesterday Newfield Exploration Co. (NYSE:NFX) traded 0.68% higher at $42.57. The company’s 50-day moving average is $43.01 and its 200-day moving average is $41.32. The last stock close price is up 3.73% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 2,142,850 shares of the stock were exchanged, down from an average trading volume of 2,652,370

Zacks Investment Research raised the target price of Newfield Exploration Co. (NYSE:NFX) to $48.00 indicating a possible upside of 0.13%.

See Chart Below

Newfield Exploration Co. (NYSE:NFX)

Newfield Exploration Co. has a 52 week low of $20.84 and a 52 week high of $47.56 The company’s market cap is currently $0.

In addition to Zacks Investment Research reporting its target price, a total of 33 brokerages have issued a research note on the company. The average stock price target is $46.12 with 7 brokerages rating the stock a strong buy, 21 brokerages rating the stock a buy, 6 brokerages rating the stock a hold, 0 brokerages rating the stock a underperform, and finally 0 brokerages rating the stock a sell.

Brief Synopsis On Newfield Exploration Co. (NYSE:NFX)

Newfield Exploration Company is an independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids (NGLs). The Company's operations are focused primarily on large scale, onshore liquids-rich resource plays in the United States. Its segments are the United States and China. Its principal areas of operation are the Anadarko and Arkoma Basins of Oklahoma, the Williston Basin of North Dakota, the Uinta Basin of Utah and the Maverick, and Gulf Coast basins of Texas. In addition, it has oil developments offshore China. Its proved reserves of over 510 million barrels of oil equivalents (MMBOE) consist of over 310 MMBOE proved developed producing, 20 MMBOE proved developed non-producing and 180 MMBOE proved undeveloped reserves. Its proved liquids reserves are over 290 million barrels. Over 71% of its proved liquid reserves are crude oil or condensate. Its proved natural gas reserves are over 1,305 billion cubic feet (Bcf).

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