Acadian Asset Management LLC increased its position in Newfield Exploration Co. (NYSE:NFX) by 3,279.3% during the second quarter, Holdings Channel reports. The firm owned 5,069 shares of the energy company’s stock after buying an additional 4,919 shares during the period. Acadian Asset Management LLC’s holdings in Newfield Exploration were worth $224,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Newfield Exploration by 3.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,166 shares of the energy company’s stock worth $105,000 after buying an additional 108 shares during the period. Adell Harriman & Carpenter Inc. boosted 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 worth $217,000 after buying an additional 300 shares during the period. Nordea Investment Management AB boosted its position in shares of Newfield Exploration by 138.0% in the second quarter. Nordea Investment Management AB now owns 6,946 shares of the energy company’s stock worth $307,000 after buying an additional 4,027 shares during the period. FDO Partners LLC bought a new position in shares of Newfield Exploration during the first quarter worth about $233,000. Finally, Raymond James Trust N.A. boosted its position in shares of Newfield Exploration by 20.9% in the second quarter. Raymond James Trust N.A. now owns 8,530 shares of the energy company’s stock worth $377,000 after buying an additional 1,474 shares during the period. Hedge funds and other institutional investors own 99.61% of the company’s stock.
Newfield Exploration Co. (NYSE:NFX) traded down 3.83% during mid-day trading on Friday, hitting $41.64. The stock had a trading volume of 1,989,880 shares. Newfield Exploration Co. has a 12 month low of $20.84 and a 12 month high of $47.56. The company’s market cap is $8.19 billion. The firm’s 50-day moving average is $44.47 and its 200 day moving average is $40.06.
Newfield Exploration (NYSE:NFX) last issued its quarterly earnings results on Tuesday, August 2nd. The energy company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.24. The company earned $381 million during the quarter, compared to the consensus estimate 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 revenue was down 18.8% on a year-over-year basis. During the same period last year, the business posted $0.46 earnings per share. Equities analysts anticipate that Newfield Exploration Co. will post $0.77 EPS for the current fiscal year.
Several research firms have recently weighed in on NFX. Barclays PLC reiterated a “buy” rating on shares of Newfield Exploration in a report on Sunday, June 26th. Cantor Fitzgerald reiterated a “buy” rating on shares of Newfield Exploration in a report on Saturday, June 4th. Wunderlich lifted their price objective on Newfield Exploration from $59.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Stifel Nicolaus lifted their price objective on Newfield Exploration from $44.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, June 28th. Finally, KLR Group cut Newfield Exploration from an “accumulate” rating to a “hold” rating and cut their price objective for the company from $48.00 to $47.00 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 given a buy rating and one has given a strong buy rating to the stock. Newfield Exploration currently has an average rating of “Buy” and a consensus target price of $46.67.
In related news, Director Pamela J. Gardner sold 10,685 shares of the stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $46.22, for a total transaction of $493,860.70. Following the completion of the sale, the director now directly owns 43,749 shares of the company’s stock, valued at $2,022,078.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Juanita F. Romans sold 2,015 shares of the 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 sale, 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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