Insider Selling: Newfield Exploration Company (NFX) CEO Sells 12,000 Shares of Stock
Newfield Exploration Company (NYSE:NFX) CEO Lee K. Boothby sold 12,000 shares of Newfield Exploration stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $31.70, for a total value of $380,400.00. Following the completion of the transaction, the chief executive officer now directly owns 255,322 shares in the company, valued at $8,093,707.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of Newfield Exploration Company (NFX) traded down $0.24 during trading on Friday, hitting $30.66. The company’s stock had a trading volume of 3,514,185 shares, compared to its average volume of 3,129,858. The company has a market cap of $5.89 billion, a P/E ratio of 14.67 and a beta of 1.47.
Newfield Exploration (NYSE:NFX) last posted its earnings results on Tuesday, October 31st. The energy company reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.09. Newfield Exploration had a net margin of 20.62% and a return on equity of 35.28%. The company had revenue of $439.00 million during the quarter, compared to analysts’ expectations of $419.75 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. Newfield Exploration’s revenue for the quarter was up 12.0% compared to the same quarter last year. sell-side analysts predict that Newfield Exploration Company will post 2.03 EPS for the current fiscal year.
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Several research analysts have commented on NFX shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $46.00 price target on shares of Newfield Exploration in a research report on Thursday, July 6th. Barclays PLC reaffirmed a “hold” rating and issued a $23.00 price target on shares of Newfield Exploration in a research report on Friday, July 7th. Zacks Investment Research downgraded Newfield Exploration from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Cowen and Company set a $35.00 price objective on Newfield Exploration and gave the company a “buy” rating in a research report on Tuesday, July 18th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $42.00 price objective on shares of Newfield Exploration in a research report on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the stock. Newfield Exploration currently has an average rating of “Buy” and a consensus target price of $39.35.
A number of institutional investors have recently modified their holdings of NFX. Renaissance Technologies LLC acquired a new position in Newfield Exploration during the 2nd quarter valued at approximately $42,542,000. FMR LLC increased its stake in Newfield Exploration by 9.9% during the 2nd quarter. FMR LLC now owns 10,459,662 shares of the energy company’s stock valued at $297,683,000 after purchasing an additional 938,740 shares in the last quarter. Prudential Financial Inc. increased its stake in Newfield Exploration by 26.9% during the 3rd quarter. Prudential Financial Inc. now owns 4,114,290 shares of the energy company’s stock valued at $122,071,000 after purchasing an additional 872,434 shares in the last quarter. Vanguard Group Inc. increased its stake in Newfield Exploration by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 23,677,528 shares of the energy company’s stock valued at $673,862,000 after purchasing an additional 760,793 shares in the last quarter. Finally, Bridgewater Associates LP increased its stake in Newfield Exploration by 604.1% during the 2nd quarter. Bridgewater Associates LP now owns 825,717 shares of the energy company’s stock valued at $23,500,000 after purchasing an additional 708,436 shares in the last quarter. Institutional investors and hedge funds own 99.15% of the company’s stock.
Newfield Exploration Company Profile
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.
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