Deprince Race & Zollo Inc. decreased its stake in shares of Newfield Exploration Co. (NYSE:NFX) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 15,800 shares of the energy company’s stock after selling 200 shares during the period. Deprince Race & Zollo Inc.’s holdings in Newfield Exploration were worth $698,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Adell Harriman & Carpenter Inc. increased its position in shares of Newfield Exploration by 4.8% in the first quarter. Adell Harriman & Carpenter Inc. now owns 6,525 shares of the energy company’s stock valued at $217,000 after buying an additional 300 shares in the last quarter. ING Groep NV purchased a new position in shares of Newfield Exploration during the second quarter valued at approximately $219,000. Daiwa Securities Group Inc. purchased a new position in shares of Newfield Exploration during the second quarter valued at approximately $221,000. Acadian Asset Management LLC increased its position in shares of Newfield Exploration by 3,279.3% in the second quarter. Acadian Asset Management LLC now owns 5,069 shares of the energy company’s stock valued at $224,000 after buying an additional 4,919 shares in the last quarter. Finally, Conning Inc. purchased a new position in shares of Newfield Exploration during the second quarter valued at approximately $229,000. Institutional investors and hedge funds own 99.61% of the company’s stock.
Shares of Newfield Exploration Co. (NYSE:NFX) traded down 0.05% during midday trading on Friday, reaching $43.16. 2,315,693 shares of the company’s stock were exchanged. Newfield Exploration Co. has a 12-month low of $20.84 and a 12-month high of $47.56. The firm has a 50-day moving average of $43.35 and a 200-day moving average of $40.80. The stock’s market capitalization is $8.49 billion.
Newfield Exploration (NYSE:NFX) last announced its earnings results on Tuesday, August 2nd. The energy company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.24. The firm had revenue of $381 million for the quarter, compared to analyst estimates of $379.74 million. Newfield Exploration had a negative net margin of 226.57% and a positive return on equity of 9.07%. The company’s revenue for the quarter was down 18.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 EPS. Analysts anticipate that Newfield Exploration Co. will post $0.76 EPS for the current fiscal year.
Several research analysts have commented on the stock. Cantor Fitzgerald restated a “buy” rating and set a $44.00 price objective on shares of Newfield Exploration in a research report on Wednesday, June 22nd. Wunderlich boosted their price objective on shares of Newfield Exploration from $59.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. KLR Group downgraded shares of Newfield Exploration from an “accumulate” rating to a “hold” rating and lowered their price objective for the company from $48.00 to $47.00 in a research report on Friday, August 5th. Zacks Investment Research cut shares of Newfield Exploration from a “buy” rating to a “hold” rating in a research note on Wednesday, August 17th. Finally, Piper Jaffray Cos. boosted their target price on shares of Newfield Exploration from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 6th. One 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 assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $46.67.
In related news, Director Pamela J. Gardner sold 10,685 shares of Newfield Exploration stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $46.22, for a total transaction of $493,860.70. Following the completion of the transaction, the director now directly owns 43,749 shares of the company’s stock, valued at approximately $2,022,078.78. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Juanita F. Romans sold 2,015 shares of Newfield Exploration stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $46.04, for a total transaction of $92,770.60. Following the transaction, the director now directly owns 36,810 shares of the company’s stock, valued at $1,694,732.40. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.
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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