Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Newfield Exploration Company (NYSE:NFX) by 4.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 58,685 shares of the energy company’s stock after buying an additional 2,734 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Newfield Exploration were worth $1,670,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Global X Management Co. LLC raised its stake in Newfield Exploration by 30.5% during the first quarter. Global X Management Co. LLC now owns 3,311 shares of the energy company’s stock valued at $122,000 after purchasing an additional 774 shares in the last quarter. Pacer Advisors Inc. raised its stake in Newfield Exploration by 3.3% during the first quarter. Pacer Advisors Inc. now owns 3,740 shares of the energy company’s stock valued at $138,000 after purchasing an additional 121 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in Newfield Exploration during the second quarter valued at $131,000. Ameritas Investment Partners Inc. purchased a new stake in Newfield Exploration during the first quarter valued at $175,000. Finally, Daiwa Securities Group Inc. raised its stake in Newfield Exploration by 14.0% during the first quarter. Daiwa Securities Group Inc. now owns 5,700 shares of the energy company’s stock valued at $210,000 after purchasing an additional 700 shares in the last quarter. 99.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Newfield Exploration Company (NFX) traded down 0.37% during mid-day trading on Friday, reaching $27.11. 3,628,368 shares of the company traded hands. Newfield Exploration Company has a 52-week low of $24.41 and a 52-week high of $50.00. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 17.58 and a beta of 1.49. The company’s 50 day moving average is $26.10 and its 200 day moving average is $30.86.
Newfield Exploration (NYSE:NFX) last released its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). The firm had revenue of $402.00 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 business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 earnings per share. On average, equities analysts forecast that Newfield Exploration Company will post $1.87 earnings per share for the current year.
In other Newfield Exploration news, insider Lee K. Boothby sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $26.18, for a total transaction of $314,160.00. Following the completion of the sale, the insider now owns 279,322 shares in the company, valued at approximately $7,312,649.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Roger B. Plank acquired 3,000 shares of the stock in a transaction on Friday, August 11th. The shares were acquired at an average price of $25.98 per share, with a total value of $77,940.00. Following the purchase, the director now owns 30,787 shares in the company, valued at $799,846.26. The disclosure for this purchase can be found here. Company insiders own 0.54% of the company’s stock.
NFX has been the topic of several recent analyst reports. Goldman Sachs Group, Inc. (The) raised shares of Newfield Exploration from a “neutral” rating to a “buy” rating and reduced their target price for the company from $52.00 to $45.00 in a research note on Tuesday, May 30th. Stifel Nicolaus restated a “buy” rating and issued a $48.00 price target on shares of Newfield Exploration in a report on Friday, May 26th. Royal Bank Of Canada set a $54.00 target price on shares of Newfield Exploration and gave the stock a “buy” rating in a report on Saturday, June 3rd. Jefferies Group LLC reiterated a “buy” rating and set a $46.00 target price on shares of Newfield Exploration in a report on Thursday, July 6th. Finally, Scotiabank reiterated a “buy” rating and set a $39.00 target price on shares of Newfield Exploration in a report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company. Newfield Exploration presently has an average rating of “Buy” and a consensus price target of $42.05.
Newfield Exploration Company Profile
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.
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