Envestnet Asset Management Inc. Increases Holdings in Newfield Exploration Co. (NYSE:NFX)

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Envestnet Asset Management Inc. raised its stake in shares of Newfield Exploration Co. (NYSE:NFX) by 32.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,737 shares of the energy company’s stock after acquiring an additional 19,499 shares during the period. Envestnet Asset Management Inc.’s holdings in Newfield Exploration were worth $2,381,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NumerixS Investment Technologies Inc purchased a new stake in shares of Newfield Exploration during the 2nd quarter worth approximately $142,000. North Star Asset Management Inc. raised its position in Newfield Exploration by 18.1% in the 2nd quarter. North Star Asset Management Inc. now owns 213,379 shares of the energy company’s stock valued at $6,455,000 after purchasing an additional 32,679 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Newfield Exploration by 166.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 22,575 shares of the energy company’s stock valued at $683,000 after purchasing an additional 14,091 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Newfield Exploration by 2.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,275,743 shares of the energy company’s stock valued at $68,842,000 after purchasing an additional 53,076 shares during the last quarter. Finally, BlackRock Inc. raised its position in Newfield Exploration by 4.1% in the 2nd quarter. BlackRock Inc. now owns 14,646,888 shares of the energy company’s stock valued at $443,068,000 after purchasing an additional 571,447 shares during the last quarter. Institutional investors and hedge funds own 99.29% of the company’s stock.

Shares of NYSE:NFX opened at $27.94 on Tuesday. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.72 and a quick ratio of 0.70. Newfield Exploration Co. has a 52-week low of $22.72 and a 52-week high of $35.20. The company has a market capitalization of $5.76 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 0.67 and a beta of 1.38.

Newfield Exploration (NYSE:NFX) last issued its quarterly earnings data on Tuesday, July 31st. The energy company reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.12. Newfield Exploration had a net margin of 17.53% and a return on equity of 41.07%. The company had revenue of $679.00 million during the quarter, compared to the consensus estimate of $619.07 million. During the same quarter last year, the company earned $0.43 earnings per share. Newfield Exploration’s revenue for the quarter was up 68.9% on a year-over-year basis. On average, analysts anticipate that Newfield Exploration Co. will post 3.45 EPS for the current fiscal year.

Several research firms recently commented on NFX. BMO Capital Markets reiterated a “hold” rating and issued a $33.00 price target on shares of Newfield Exploration in a research report on Thursday, July 12th. SunTrust Banks cut shares of Newfield Exploration from a “buy” rating to a “hold” rating in a research note on Friday, July 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $37.00 price target on shares of Newfield Exploration in a research note on Wednesday, July 18th. Zacks Investment Research cut shares of Newfield Exploration from a “buy” rating to a “hold” rating in a research note on Tuesday, July 17th. Finally, Morgan Stanley upped their price target on shares of Newfield Exploration from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Wednesday, September 26th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company. Newfield Exploration currently has an average rating of “Hold” and an average price target of $37.55.

In other news, insider Lee K. Boothby sold 16,161 shares of the firm’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $29.25, for a total transaction of $472,709.25. Following the completion of the sale, the insider now owns 194,420 shares of the company’s stock, valued at $5,686,785. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.59% of the stock is currently owned by company insiders.

About Newfield Exploration

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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Institutional Ownership by Quarter for Newfield Exploration (NYSE:NFX)

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