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Stock Market & Financial Investment News

News Breaks
February 13, 2013
18:39 EDTNFXNewfield Exploration provides production guidance, CapEx for 2013-2015
Newfield Exploration announced that its Board of Directors has approved a three-year plan and outlined the company's production growth outlook and planned capital investment ranges for 2013-15. "We are excited about our significant domestic production growth forecast," said Lee K. Boothby, Newfield Chairman, President and CEO. "Since 2009, we have transformed our asset base toward liquids, improved our organizational focus and aligned our people around value creation in our domestic resource plays. We are now realizing the tangible benefits of these efforts, as we transition to development drilling in our key onshore plays. Today's outlook spotlights the strength of our portfolio and, given the greater certainty in outcomes from our drilling programs, confidence in our ability to execute in 2013 and beyond to deliver these results for the benefit of our stockholders."For 2013, the company plans to invest $1.7B-$1.9B (excludes capitalized interest and overhead), with the entire budget substantially allocated to liquids plays. Total company production is expected to range from 44 - 47M BOE. This compares to 2012 production, adjusted for asset sales, of approximately 47M BOE. Adjusted for asset sales in 2012, Newfield expects that its 2013 domestic liquids production will increase more than 35%. Natural gas volumes are expected to decline about 14% from 2012 levels due to a continued lack of investment and natural field declines. The company's four domestic oil resource plays will receive a capital allocation of $1.4B-$1.5B. These areas include the Cana Woodford, Uinta basin, Williston basin and the Eagle Ford. In its international operations, the company plans to invest $300M-$400M. A significant component of this investment includes the ongoing development of the Pearl oil field, offshore China. First oil sales from the Pearl development are expected in early 2014. Boothby continued, "We believe that our 2013 investments will result in substantial gains in Newfield's liquids production growth and significant increases in our cash flow into 2014-15. Over the last several years, we have been disciplined in our levels of capital investment by funding our liquids growth plan with existing cash flows and the sale of non-strategic assets, and we will continue to do so going forward."
News For NFX From The Last 14 Days
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October 14, 2014
10:01 EDTNFXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AU Optronics (AUO) upgraded to Neutral from Sell at UBS... Antero Resources (AR) upgraded to Buy from Accumulate at KLR Group... BHP Billiton (BHP) upgraded to Neutral from Underperform at Credit Suisse... Bill Barrett (BBG) upgraded to Buy from Accumulate at KLR Group... BorgWarner (BWA) upgraded to Buy from Neutral at Goldman... CRH Plc. (CRH) upgraded to Buy from Neutral at Citigroup... Comstock Resources (CRK) upgraded to Buy from Accumulate at KLR Group... Cracker Barrel (CBRL) upgraded at Argus... Delphi Automotive (DLPH) upgraded to Buy from Neutral at Goldman... EOG Resources (EOG) upgraded at Bernstein... Eaton (ETN) upgraded to Overweight from Equal Weight at Barclays... Energizer (ENR) upgraded to Outperform from Market Perform at Wells Fargo... Energy Transfer Equity (ETE) upgraded to Outperform at RW Baird... Federal-Mogul (FDML) upgraded to Neutral from Sell at Goldman... Ford (F) upgraded to Neutral from Underperform at Buckingham... Gulfport Energy (GPOR) upgraded to Accumulate from Hold at KLR Group... Halcon Resources (HK) upgraded to Buy from Hold at KLR Group... HeartWare (HTWR) upgraded to Overweight from Neutral at Piper Jaffray... Helmerich & Payne (HP) upgraded to Outperform at FBR Capital... Legg Mason (LM) upgraded to Neutral from Underperform at BofA/Merrill... Level 3 (LVLT) upgraded to Buy from Hold at Gabelli... Magnum Hunter (MHR) upgraded to Buy from Hold at KLR Group... NetScout (NTCT) upgraded at DA Davidson... Netflix (NFLX) upgraded to Buy with $600 target at BTIG... Newfield Exploration (NFX) upgraded to Buy from Hold at KLR Group... Nielsen (NLSN) upgraded at Bernstein... Orbitz (OWW) upgraded to Outperform from Market Perform at FBR Capital... PDC Energy (PDCE) upgraded to Buy from Hold at KLR Group... Rackspace (RAX) upgraded to Buy from Hold at Evercore... Range Resources (RRC) upgraded to Accumulate from Hold at KLR Group... Rex Energy (REXX) upgraded to Buy from Accumulate at KLR Group... SM Energy (SM) upgraded to Buy from Accumulate at KLR Group... Sanchez Energy (SN) upgraded to Buy from Accumulate at KLR Group... Targa Resources (TRGP) upgraded to Buy from Accumulate at Tudor Pickering... Unilife (UNIS) upgraded to Buy from Neutral at Ladenburg... Universal Forest (UFPI) upgraded at Sterne Agee.
08:41 EDTNFXNewfield Exploration upgraded to Buy from Hold at KLR Group
Price target $41.

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