In the last 3 months, 11 ranked analysts set 12-month price targets for NFX. The average price target among the analysts is $37.30. Price targets range from $27.00 to $46.00.
It is obvious from the wide range for revenue estimates submitted to First Call that many of them are based on very low oil and gas price decks.
My valuation for NFX is $48.00 and my forecast is based on $50/bbl WTI and $3.00/MMBtu Henry Hub gas. NFX sells a lot of NGLs (~22% of total production) and NGL prices are going up.
Newfield Exploration (NFX)
Newfield Exploration (NFX)
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group