Vanguard Group Inc. raised its position in shares of Newfield Exploration Co. (NYSE:NFX) by 12.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 19,099,273 shares of the energy company’s stock after buying an additional 2,128,367 shares during the period. Vanguard Group Inc. owned about 9.71% of Newfield Exploration worth $843,806,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Prudential Financial Inc. boosted its position in Newfield Exploration by 16.4% in the second quarter. Prudential Financial Inc. now owns 265,131 shares of the energy company’s stock worth $11,713,000 after buying an additional 37,310 shares during the last quarter. Denver Investment Advisors LLC boosted its position in Newfield Exploration by 131.9% in the second quarter. Denver Investment Advisors LLC now owns 52,300 shares of the energy company’s stock worth $2,311,000 after buying an additional 29,750 shares during the last quarter. Commerce Bank acquired a new position in Newfield Exploration during the second quarter worth about $224,000. UBS Asset Management Americas Inc. boosted its position in Newfield Exploration by 117.9% in the second quarter. UBS Asset Management Americas Inc. now owns 423,421 shares of the energy company’s stock worth $18,707,000 after buying an additional 229,140 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new position in Newfield Exploration during the second quarter worth about $12,150,000. 99.61% of the stock is owned by hedge funds and other institutional investors.
Shares of Newfield Exploration Co. (NYSE:NFX) traded down 3.8335% during midday trading on Tuesday, hitting $39.5148. The company’s stock had a trading volume of 432,995 shares. The firm’s market cap is $7.78 billion. The stock’s 50 day moving average is $44.35 and its 200-day moving average is $40.29. Newfield Exploration Co. has a 52-week low of $20.84 and a 52-week high of $47.56.
Newfield Exploration (NYSE:NFX) last posted its quarterly earnings data on Tuesday, August 2nd. The energy company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.08 by $0.24. Newfield Exploration had a positive return on equity of 9.07% and a negative net margin of 226.57%. The business had revenue of $381 million for the quarter, compared to the consensus estimate of $379.74 million. During the same quarter in the prior year, the business earned $0.46 earnings per share. Newfield Exploration’s revenue for the quarter was down 18.8% on a year-over-year basis. Equities analysts predict that Newfield Exploration Co. will post $0.77 EPS for the current fiscal year.
A number of research firms have issued reports on NFX. Imperial Capital reissued an “outperform” rating and issued a $53.00 target price on shares of Newfield Exploration in a research note on Friday, September 9th. Stifel Nicolaus reissued a “buy” rating on shares of Newfield Exploration in a research note on Wednesday, August 31st. Williams Capital began coverage on Newfield Exploration in a research note on Monday, August 29th. They issued a “buy” rating and a $58.00 target price for the company. Zacks Investment Research cut Newfield Exploration from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th. Finally, Citigroup Inc. upped their price objective on Newfield Exploration from $42.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $46.67.
In related news, Director Juanita F. Romans sold 2,015 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $46.04, for a total value of $92,770.60. Following the transaction, the director now owns 36,810 shares in the company, valued at $1,694,732.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Pamela J. Gardner sold 10,685 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $46.22, for a total value of $493,860.70. Following the completion of the transaction, the director now owns 43,749 shares in the company, valued at approximately $2,022,078.78. 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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