Monday, October 25, 2010

Newfield Exploration (NYSE:NFX) Maximizing Returns on Asset Base

Newfield Exploration Company (NYSE:NFX) had its "Outperform" rating maintained on them by FBR Capital, citing a deep and diverse asset base.

FBR said, "Recognition of depth and diversity of asset base allowing capital allocation flexibility, and thus maximization of returns, has been well rewarded, allowing the stock to appreciate 18% during the third quarter compared to an average 8% for the peer group. Future absolute and relative outperformance/multiple expansion, successful Alberta Basin Bakken and Eagle Ford drilling and/or evidence of ability to pull forward cash flows faster (further acceleration in Monument Butte, Bakken, or other) than currently modeled is needed."

Newfield closed Friday at $59.11, gaining $0.20, or 0.34 percent. FBR raised the price target on Newfield from $65 to $72.

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