Market Overview

UPDATE: Jefferies Cuts PT to $38 on Newfield Exploration

Jefferies lowers its price target $4 to $38 on Hold-rated Newfield Exploration (NYSE: NFX) on Q4 takeaways suggesting soaring costs.

Jefferies notes, "Growth while spending within cash flow. While the oil mix continues to improve, higher operating and development costs are leading to a sizable nearterm outspend. Positive results from upcoming Uinta Basin horizontals would be a step in the right direction, but scalability will remain a question mark."

NFX closed at $36.06 a share yesterday.

Posted-In: JefferiesAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings

 

Related Articles (NFX)

Around the Web, We're Loving...

Get Benzinga's Newsletters