Newfield Exploration Company (NFX) Position Increased by Suntrust Banks Inc.

Suntrust Banks Inc. lifted its stake in Newfield Exploration Company (NYSE:NFX) by 28.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,756 shares of the energy company’s stock after purchasing an additional 3,268 shares during the period. Suntrust Banks Inc.’s holdings in Newfield Exploration were worth $419,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec raised its position in Newfield Exploration by 3.5% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 32,700 shares of the energy company’s stock worth $1,208,000 after acquiring an additional 1,100 shares during the last quarter. Schroder Investment Management Group raised its position in Newfield Exploration by 67.3% during the second quarter. Schroder Investment Management Group now owns 1,236,114 shares of the energy company’s stock worth $35,353,000 after acquiring an additional 497,431 shares during the last quarter. Atlantic Trust Group LLC raised its position in Newfield Exploration by 22.8% during the second quarter. Atlantic Trust Group LLC now owns 253,908 shares of the energy company’s stock worth $7,226,000 after acquiring an additional 47,194 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Newfield Exploration by 21.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,229 shares of the energy company’s stock worth $1,458,000 after acquiring an additional 8,972 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Newfield Exploration by 106.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 144,732 shares of the energy company’s stock worth $4,119,000 after acquiring an additional 74,768 shares during the last quarter. Hedge funds and other institutional investors own 99.15% of the company’s stock.

Shares of Newfield Exploration Company (NYSE:NFX) opened at 29.78 on Friday. Newfield Exploration Company has a one year low of $24.41 and a one year high of $50.00. The stock’s 50 day moving average is $27.87 and its 200-day moving average is $30.12. The stock has a market capitalization of $5.88 billion, a P/E ratio of 19.31 and a beta of 1.53.

Newfield Exploration (NYSE:NFX) last posted its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). The company had revenue of $402.00 million during the quarter, compared to analysts’ expectations of $413.70 million. Newfield Exploration had a return on equity of 33.17% and a net margin of 18.82%. Newfield Exploration’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share. On average, equities research analysts expect that Newfield Exploration Company will post $1.89 EPS for the current year.

In related news, Director Roger B. Plank purchased 3,000 shares of Newfield Exploration stock in a transaction dated Friday, August 11th. The stock was acquired at an average cost of $25.98 per share, with a total value of $77,940.00. Following the completion of the transaction, the director now directly owns 30,787 shares of the company’s stock, valued at $799,846.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lee K. Boothby sold 12,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $29.10, for a total transaction of $349,200.00. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

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A number of equities analysts have issued reports on NFX shares. Jefferies Group LLC restated a “buy” rating and set a $46.00 target price on shares of Newfield Exploration in a research report on Thursday, July 6th. Barclays PLC lifted their target price on shares of Newfield Exploration from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Zacks Investment Research cut shares of Newfield Exploration from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Citigroup Inc. cut their target price on shares of Newfield Exploration from $50.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Finally, J P Morgan Chase & Co restated an “overweight” rating and set a $36.00 target price (down previously from $40.00) on shares of Newfield Exploration in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $41.14.

About Newfield Exploration

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.

Institutional Ownership by Quarter for Newfield Exploration (NYSE:NFX)

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