NWQ Investment Management Company LLC trimmed its stake in shares of Newfield Exploration Co. (NYSE:NFX) by 10.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,843,202 shares of the energy company’s stock after selling 205,074 shares during the quarter. NWQ Investment Management Company LLC owned approximately 0.92% of Newfield Exploration worth $58,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of NFX. Janus Henderson Group PLC raised its position in shares of Newfield Exploration by 3,994.5% during the third quarter. Janus Henderson Group PLC now owns 1,899,262 shares of the energy company’s stock worth $56,351,000 after acquiring an additional 1,852,876 shares during the last quarter. Prudential Financial Inc. grew its stake in Newfield Exploration by 26.9% during the third quarter. Prudential Financial Inc. now owns 4,114,290 shares of the energy company’s stock worth $122,071,000 after purchasing an additional 872,434 shares during the period. Schroder Investment Management Group grew its stake in Newfield Exploration by 70.3% during the third quarter. Schroder Investment Management Group now owns 2,105,206 shares of the energy company’s stock worth $62,209,000 after purchasing an additional 869,092 shares during the period. OppenheimerFunds Inc. grew its stake in Newfield Exploration by 210.1% during the fourth quarter. OppenheimerFunds Inc. now owns 1,002,611 shares of the energy company’s stock worth $31,612,000 after purchasing an additional 679,300 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Newfield Exploration by 110.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,278,674 shares of the energy company’s stock worth $37,938,000 after purchasing an additional 671,123 shares during the period. Institutional investors own 99.82% of the company’s stock.
Several equities research analysts recently commented on NFX shares. Scotiabank set a $39.00 target price on Newfield Exploration and gave the stock a “buy” rating in a research note on Saturday, November 25th. Zacks Investment Research raised Newfield Exploration from a “hold” rating to a “strong-buy” rating and set a $40.00 target price for the company in a research note on Monday, January 15th. Piper Jaffray Companies reissued a “buy” rating and issued a $48.00 price objective on shares of Newfield Exploration in a research note on Tuesday, January 9th. KLR Group cut Newfield Exploration from a “buy” rating to a “hold” rating and set a $36.00 price objective for the company. in a research note on Tuesday, January 23rd. Finally, Morgan Stanley raised their price objective on Newfield Exploration from $33.00 to $37.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $37.59.
Newfield Exploration Co. (NFX) opened at $23.28 on Monday. The stock has a market capitalization of $4,667.51, a P/E ratio of 10.97, a P/E/G ratio of 0.60 and a beta of 1.57. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.73. Newfield Exploration Co. has a 1 year low of $22.72 and a 1 year high of $37.61.
Newfield Exploration (NYSE:NFX) last announced its earnings results on Tuesday, February 20th. The energy company reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.11. The company had revenue of $509.00 million for the quarter, compared to analysts’ expectations of $497.95 million. Newfield Exploration had a return on equity of 35.57% and a net margin of 24.17%. Newfield Exploration’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.49 earnings per share. research analysts forecast that Newfield Exploration Co. will post 2.94 EPS for the current year.
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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.
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