Envestnet Asset Management Inc. raised its stake in Newfield Exploration Co. (NYSE:NFX) by 32.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,737 shares of the energy company’s stock after buying an additional 19,499 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Newfield Exploration were worth $2,381,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Rampart Investment Management Company LLC lifted its stake in Newfield Exploration by 84.7% in the first quarter. Rampart Investment Management Company LLC now owns 4,513 shares of the energy company’s stock valued at $110,000 after buying an additional 2,070 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in shares of Newfield Exploration during the second quarter worth about $142,000. Penserra Capital Management LLC raised its position in shares of Newfield Exploration by 495.7% during the first quarter. Penserra Capital Management LLC now owns 5,016 shares of the energy company’s stock worth $130,000 after purchasing an additional 4,174 shares during the period. Amica Pension Fund Board of Trustees acquired a new stake in shares of Newfield Exploration during the second quarter worth about $178,000. Finally, Amica Mutual Insurance Co. acquired a new stake in shares of Newfield Exploration during the second quarter worth about $198,000. 99.29% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on the company. B. Riley raised their price target on Newfield Exploration from $36.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, June 11th. Zacks Investment Research raised Newfield Exploration from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Monday, July 16th. Seaport Global Securities reaffirmed a “buy” rating on shares of Newfield Exploration in a research report on Wednesday, July 25th. Williams Capital reaffirmed a “buy” rating and set a $44.00 price target on shares of Newfield Exploration in a research report on Wednesday, May 23rd. Finally, Goldman Sachs Group lowered Newfield Exploration from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 18th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $37.50.
Newfield Exploration (NYSE:NFX) last announced its earnings results on Tuesday, July 31st. The energy company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.12. Newfield Exploration had a return on equity of 41.07% and a net margin of 17.53%. The business had revenue of $679.00 million for the quarter, compared to analyst estimates of $619.07 million. During the same quarter last year, the firm earned $0.43 EPS. Newfield Exploration’s revenue for the quarter was up 68.9% compared to the same quarter last year. research analysts forecast that Newfield Exploration Co. will post 3.44 earnings per share for the current year.
Newfield Exploration Profile
Newfield Exploration Company, an independent energy company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company has operations principally in the Anadarko and Arkoma basins of Oklahoma, the Williston Basin of North Dakota, and the Uinta Basin of Utah.
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