Midday Update: Newfield Exploration Company (NFX) Charges Ahead 3.51% on August 3

Newfield Exploration Company (NFX) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector during morning trading on August 3. At the lunch break, shares of NFX have gained 3.51% to $43.01 after closing the day prior at $41.55. In the first two and a half hours of trading, the stock has gone as high as $43.54 and as low as $40.83. Today's rise has come with about 3.12 million shares changing hands, compared to an average 30-day volume of 3.13 million for Newfield Exploration Company. The price is currently below the 30-day volume weighted average price of $42.36 for NFX.

The share appreciation gives the company a market capitalization of $8.25 billion based upon 198.49 million shares outstanding. It also means that NFX has a price-to-book ratio of 5.59:1.

In the past 52 weeks, shares of NFX have traded as low as $20.84 and as high as $45.61. Technical traders will take note that at $43.01, shares of NFX are trading above their 200-day MA at $35.53 and above their 50-day MA at $42.14. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.

Who is NFX?

Newfield Exploration Co is an independent exploration & production company engaged in the exploration, development & production of crude oil, natural gas & NGL. Its areas of operation include Mid-Continent, Rocky Mountains & onshore Gulf Coast. The company’s 1111 employees are led by CEO Lee K. Boothby from the corporate headquarters at 4 Waterway Square Place in The Woodlands, TX.

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