Conning Inc. bought a new position in Newfield Exploration Co. (NYSE:NFX) during the second quarter, Holdings Channel reports. The firm bought 5,186 shares of the energy company’s stock, valued at approximately $229,000.
Other institutional investors have also made changes to their positions in the company. Sentry Investment Management LLC raised its position in shares of Newfield Exploration by 19.8% in the first quarter. Sentry Investment Management LLC now owns 14,055 shares of the energy company’s stock worth $467,000 after buying an additional 2,326 shares in the last quarter. BlackRock Japan Co. Ltd boosted its position in Newfield Exploration by 119.6% in the first quarter. BlackRock Japan Co. Ltd now owns 93,693 shares of the energy company’s stock worth $3,115,000 after buying an additional 51,024 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Newfield Exploration by 18.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 6,319,408 shares of the energy company’s stock worth $210,120,000 after buying an additional 1,002,279 shares during the last quarter. BlackRock Fund Advisors boosted its position in Newfield Exploration by 19.7% in the first quarter. BlackRock Fund Advisors now owns 3,536,629 shares of the energy company’s stock worth $117,593,000 after buying an additional 581,137 shares during the last quarter. Finally, BlackRock Group LTD boosted its position in Newfield Exploration by 31.1% in the first quarter. BlackRock Group LTD now owns 1,271,634 shares of the energy company’s stock worth $42,281,000 after buying an additional 301,355 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.
Shares of Newfield Exploration Co. (NYSE:NFX) traded down 0.30% during mid-day trading on Thursday, reaching $43.18. The company’s stock had a trading volume of 1,687,024 shares. Newfield Exploration Co. has a one year low of $20.84 and a one year high of $47.56. The firm’s 50 day moving average is $43.46 and its 200 day moving average is $40.73. The firm’s market cap is $8.50 billion.
Newfield Exploration (NYSE:NFX) last announced its quarterly earnings results on Tuesday, August 2nd. The energy company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.24. The firm earned $381 million during the quarter, compared to analyst estimates of $379.74 million. Newfield Exploration had a positive return on equity of 9.07% and a negative net margin of 226.57%. Newfield Exploration’s quarterly revenue was down 18.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.46 earnings per share. On average, equities analysts anticipate that Newfield Exploration Co. will post $0.76 earnings per share for the current fiscal year.
A number of equities analysts have recently issued reports on the company. Citigroup Inc. upped their price objective on Newfield Exploration from $42.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, August 9th. Zacks Investment Research cut Newfield Exploration from a “buy” rating to a “hold” rating in a report on Wednesday, August 17th. Imperial Capital reiterated an “outperform” rating and issued a $53.00 price objective on shares of Newfield Exploration in a report on Friday, September 9th. Barclays PLC cut Newfield Exploration from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $35.00 to $44.00 in a report on Friday, August 5th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $57.00 price objective (up from $56.00) on shares of Newfield Exploration in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Newfield Exploration currently has a consensus rating of “Buy” and an average target price of $46.67.
In related news, Director Pamela J. Gardner sold 10,685 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $46.22, for a total value of $493,860.70. Following the completion of the sale, the director now owns 43,749 shares in the company, valued at $2,022,078.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Juanita F. Romans sold 2,015 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $46.04, for a total value of $92,770.60. Following the completion of the sale, the director now owns 36,810 shares of the company’s stock, valued at approximately $1,694,732.40. The disclosure for this sale can be found here. 0.44% of the stock is owned by corporate insiders.
Newfield Exploration Company Profile
Newfield Exploration Company is an independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids (NGLs). The Company’s operations are focused primarily on large scale, onshore liquids-rich resource plays in the United States. Its segments are the United States and China.
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