Twin Tree Management LP lifted its position in shares of Newfield Exploration Company (NYSE:NFX) by 646.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,749 shares of the energy company’s stock after purchasing an additional 38,741 shares during the period. Twin Tree Management LP’s holdings in Newfield Exploration were worth $932,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in NFX. Pacer Advisors Inc. increased its stake in shares of Newfield Exploration by 8.5% during the 2nd quarter. Pacer Advisors Inc. now owns 4,059 shares of the energy company’s stock worth $116,000 after purchasing an additional 319 shares during the last quarter. Global X Management Co. LLC increased its stake in shares of Newfield Exploration by 30.5% during the 1st quarter. Global X Management Co. LLC now owns 3,311 shares of the energy company’s stock worth $122,000 after purchasing an additional 774 shares during the last quarter. Dupont Capital Management Corp acquired a new position in shares of Newfield Exploration during the 2nd quarter worth about $131,000. Ameritas Investment Partners Inc. acquired a new position in shares of Newfield Exploration during the 1st quarter worth about $175,000. Finally, Daiwa Securities Group Inc. increased its stake in shares of Newfield Exploration by 14.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 5,700 shares of the energy company’s stock worth $210,000 after purchasing an additional 700 shares during the last quarter. Institutional investors own 99.15% of the company’s stock.
Newfield Exploration Company (NYSE NFX) opened at 28.82 on Friday. The company has a market cap of $5.69 billion, a P/E ratio of 18.69 and a beta of 1.49. The company has a 50-day moving average of $26.05 and a 200 day moving average of $30.64. Newfield Exploration Company has a 52 week low of $24.41 and a 52 week high of $50.00.
Newfield Exploration (NYSE:NFX) last announced its earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.01). The company had revenue of $402.00 million for the quarter, compared to the consensus estimate of $413.70 million. Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 earnings per share. On average, equities analysts forecast that Newfield Exploration Company will post $1.87 EPS for the current fiscal year.
A number of brokerages recently commented on NFX. Piper Jaffray Companies decreased their price target on shares of Newfield Exploration from $53.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, September 18th. Jefferies Group LLC set a $40.00 price target on shares of Newfield Exploration and gave the company a “buy” rating in a research note on Tuesday, August 29th. Royal Bank Of Canada set a $42.00 price target on shares of Newfield Exploration and gave the company a “buy” rating in a research note on Thursday, August 24th. Stifel Nicolaus set a $37.00 price target on shares of Newfield Exploration and gave the company a “buy” rating in a research note on Friday, August 18th. Finally, BidaskClub lowered shares of Newfield Exploration from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $41.44.
In related news, insider Lee K. Boothby sold 12,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were 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 directly owns 279,322 shares in the company, valued at approximately $7,312,649.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Roger B. Plank purchased 3,000 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average price of $25.98 per share, with a total value of $77,940.00. Following the completion of the acquisition, the director now directly owns 30,787 shares in the company, valued at $799,846.26. The disclosure for this purchase can be found here. Insiders own 0.54% of the company’s stock.
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Newfield Exploration 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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