First Trust Advisors LP increased its holdings in shares of Newfield Exploration Co. (NYSE:NFX) by 55.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 565,068 shares of the energy company’s stock after buying an additional 200,565 shares during the quarter. First Trust Advisors LP owned 0.28% of Newfield Exploration worth $16,291,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Janney Montgomery Scott LLC lifted its position in shares of Newfield Exploration by 11.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 17,639 shares of the energy company’s stock worth $534,000 after buying an additional 1,835 shares during the last quarter. 180 Wealth Advisors LLC lifted its position in shares of Newfield Exploration by 13.0% during the 2nd quarter. 180 Wealth Advisors LLC now owns 20,136 shares of the energy company’s stock worth $609,000 after buying an additional 2,316 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Newfield Exploration by 5.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 57,663 shares of the energy company’s stock worth $1,744,000 after buying an additional 2,881 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Newfield Exploration by 6.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 50,486 shares of the energy company’s stock worth $1,455,000 after buying an additional 3,106 shares during the last quarter. Finally, Guinness Atkinson Asset Management Inc raised its position in Newfield Exploration by 10.2% in the second quarter. Guinness Atkinson Asset Management Inc now owns 37,786 shares of the energy company’s stock valued at $1,143,000 after purchasing an additional 3,500 shares during the last quarter. Institutional investors and hedge funds own 99.29% of the company’s stock.
Several research firms have commented on NFX. SunTrust Banks downgraded Newfield Exploration from a “buy” rating to a “hold” rating in a research report on Friday, July 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $37.00 target price on shares of Newfield Exploration in a research report on Wednesday, July 18th. Zacks Investment Research downgraded Newfield Exploration from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. Morgan Stanley increased their target price on Newfield Exploration from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Wednesday, September 26th. Finally, Susquehanna Bancshares reiterated a “neutral” rating on shares of Newfield Exploration in a research report on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $35.43.
Shares of NFX stock opened at $21.83 on Friday. The stock has a market capitalization of $4.44 billion, a PE ratio of 10.15, a P/E/G ratio of 0.52 and a beta of 1.65. The company has a quick ratio of 0.70, a current ratio of 0.72 and a debt-to-equity ratio of 1.30. Newfield Exploration Co. has a 1-year low of $18.67 and a 1-year high of $35.20.
Newfield Exploration (NYSE:NFX) last issued its quarterly earnings results on Wednesday, October 31st. The energy company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.15. The company had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $661.27 million. Newfield Exploration had a return on equity of 43.65% and a net margin of 21.14%. The business’s quarterly revenue was up 62.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 earnings per share. As a group, research analysts predict that Newfield Exploration Co. will post 3.59 earnings per share for the current year.
In other news, insider Lee K. Boothby sold 16,161 shares of the stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $29.25, for a total value of $472,709.25. Following the completion of the sale, the insider now owns 194,420 shares of the company’s stock, valued at $5,686,785. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.59% of the company’s stock.
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Newfield Exploration Profile
Newfield Exploration Company, an independent energy company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company has operations principally in the Anadarko and Arkoma basins of Oklahoma, the Williston Basin of North Dakota, and the Uinta Basin of Utah.
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