Fulton Bank N.A. Has $325,000 Position in Newfield Exploration Company (NFX)

Fulton Bank N.A. cut its stake in Newfield Exploration Company (NYSE:NFX) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,424 shares of the energy company’s stock after selling 390 shares during the period. Fulton Bank N.A.’s holdings in Newfield Exploration were worth $325,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Newfield Exploration by 31.1% in the first quarter. Wellington Management Group LLP now owns 27,063,455 shares of the energy company’s stock valued at $998,913,000 after buying an additional 6,422,891 shares during the period. Vanguard Group Inc. raised its stake in shares of Newfield Exploration by 5.2% in the first quarter. Vanguard Group Inc. now owns 22,916,735 shares of the energy company’s stock valued at $845,856,000 after buying an additional 1,131,263 shares during the period. BlackRock Inc. raised its stake in shares of Newfield Exploration by 2,798.4% in the first quarter. BlackRock Inc. now owns 13,788,511 shares of the energy company’s stock valued at $508,934,000 after buying an additional 13,312,785 shares during the period. State Street Corp raised its stake in shares of Newfield Exploration by 10.3% in the first quarter. State Street Corp now owns 11,470,973 shares of the energy company’s stock valued at $423,392,000 after buying an additional 1,066,743 shares during the period. Finally, Clearbridge Investments LLC raised its stake in shares of Newfield Exploration by 3.0% in the first quarter. Clearbridge Investments LLC now owns 8,865,153 shares of the energy company’s stock valued at $327,213,000 after buying an additional 256,245 shares during the period. Institutional investors and hedge funds own 99.05% of the company’s stock.

Newfield Exploration Company (NYSE NFX) traded down 0.38% during midday trading on Tuesday, reaching $26.34. 4,916,726 shares of the company’s stock were exchanged. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 17.08 and a beta of 1.48. Newfield Exploration Company has a 12-month low of $25.46 and a 12-month high of $50.00. The stock’s 50-day moving average is $27.57 and its 200-day moving average is $34.00.

Newfield Exploration (NYSE:NFX) last posted its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.01. The company had revenue of $402 million during the quarter, compared to analysts’ expectations of $413.70 million. Newfield Exploration had a return on equity of 33.17% and a net margin of 18.82%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. On average, equities analysts forecast that Newfield Exploration Company will post $1.93 earnings per share for the current year.

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NFX has been the subject of several research analyst reports. Jefferies Group LLC restated a “buy” rating and issued a $46.00 price objective on shares of Newfield Exploration in a report on Wednesday, May 17th. Williams Capital set a $45.00 price objective on shares of Newfield Exploration and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Cowen and Company set a $35.00 price objective on shares of Newfield Exploration and gave the stock a “buy” rating in a report on Tuesday, July 18th. Barclays PLC restated a “hold” rating and issued a $34.00 price objective on shares of Newfield Exploration in a report on Monday, May 15th. Finally, BMO Capital Markets set a $40.00 target price on shares of Newfield Exploration and gave the company a “buy” rating in a report on Tuesday, May 2nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty have assigned a buy rating to the company. Newfield Exploration has a consensus rating of “Buy” and an average target price of $43.46.

About Newfield Exploration

Newfield Exploration Company is an independent exploration and production company. It is engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. Its operating segments are the United States and China. Its the United States operations are onshore and focus primarily on large scale, liquids resource plays.

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

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