Newfield Exploration Upgrade

[dan_s]

Raymond James Recommendation:
"As Newfield continues delineation efforts in the STACK, results point to improving quality and consistency of the company’s acreage. Further, its recently announced acquisition in the STACK expands its overall footprint in the play, particularly in the over pressurized oil window where operators, such as Continental, have delivered impressive well results. Given its large acreage position in one of the best oil plays in the country, better than expected well performance, a solid balance sheet, and our bullish outlook on oil in the second half of 2016, we maintain our Strong Buy rating and are raising our price target to $50/share."

In the body of the report, RJ says their is $19/share upside to their price target if STACK type curves are adjusted upward. NFX wells are exceeding the current type curve.