Brant Point Investment Management LLC reduced its position in shares of Newfield Exploration Co. (NYSE:NFX) by 58.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,283 shares of the energy company’s stock after selling 56,139 shares during the period. Brant Point Investment Management LLC’s holdings in Newfield Exploration were worth $1,133,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of NFX. Principal Financial Group Inc. raised its stake in shares of Newfield Exploration by 5.5% during the 1st quarter. Principal Financial Group Inc. now owns 308,756 shares of the energy company’s stock valued at $7,540,000 after buying an additional 15,965 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its position in shares of Newfield Exploration by 126.4% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 11,660 shares of the energy company’s stock valued at $353,000 after acquiring an additional 6,510 shares during the period. Janney Montgomery Scott LLC grew 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 valued at $534,000 after acquiring an additional 1,835 shares during the period. BP PLC acquired a new stake in shares of Newfield Exploration during the 2nd quarter valued at about $787,000. Finally, Aperio Group LLC grew its position in shares of Newfield Exploration by 26.4% during the 2nd quarter. Aperio Group LLC now owns 96,065 shares of the energy company’s stock valued at $2,906,000 after acquiring an additional 20,044 shares during the period.
NFX stock opened at $16.95 on Monday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.70 and a current ratio of 0.72. Newfield Exploration Co. has a 12-month low of $16.73 and a 12-month high of $35.20. The stock has a market capitalization of $3.40 billion, a P/E ratio of 7.88, a PEG ratio of 0.40 and a beta of 1.65.
Newfield Exploration (NYSE:NFX) last posted its quarterly earnings data on Wednesday, October 31st. The energy company reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.15. Newfield Exploration had a return on equity of 43.65% and a net margin of 21.14%. The company had revenue of $711.00 million for the quarter, compared to analysts’ expectations of $661.27 million. During the same period in the previous year, the firm posted $0.52 EPS. Newfield Exploration’s revenue was up 62.0% compared to the same quarter last year. As a group, analysts expect that Newfield Exploration Co. will post 3.58 earnings per share for the current year.
In related news, insider Lee K. Boothby sold 16,161 shares of Newfield Exploration 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 sale, the insider now directly owns 194,420 shares in the company, valued at approximately $5,686,785. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.59% of the company’s stock.
A number of research firms have recently commented on NFX. Morgan Stanley raised 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. Susquehanna Bancshares restated a “neutral” rating on shares of Newfield Exploration in a research report on Friday, November 2nd. ValuEngine cut Newfield Exploration from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 2nd. UBS Group cut Newfield Exploration from a “positive” rating to a “neutral” rating in a research report on Friday, November 2nd. Finally, Edward Jones cut Newfield Exploration to a “hold” rating in a research report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $35.47.
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Newfield Exploration Company 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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