Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of Newfield Exploration Co. (NYSE:NFX) by 53.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 243,095 shares of the energy company’s stock after selling 275,262 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.12% of Newfield Exploration worth $7,008,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in NFX. LSV Asset Management raised its stake in Newfield Exploration by 604.9% during the 2nd quarter. LSV Asset Management now owns 5,569,375 shares of the energy company’s stock valued at $168,473,000 after buying an additional 4,779,275 shares during the last quarter. BlueMountain Capital Management LLC purchased a new stake in Newfield Exploration during the 2nd quarter valued at $66,428,000. Caymus Capital Partners L.P. purchased a new stake in Newfield Exploration during the 3rd quarter valued at $45,784,000. Carillon Tower Advisers Inc. raised its stake in Newfield Exploration by 167.8% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 1,736,992 shares of the energy company’s stock valued at $52,544,000 after buying an additional 1,088,350 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in Newfield Exploration during the 2nd quarter valued at $30,365,000. Institutional investors and hedge funds own 97.70% of the company’s stock.
NFX has been the subject of a number of research reports. Williams Capital reiterated a “buy” rating and set a $44.00 target price on shares of Newfield Exploration in a research note on Thursday, November 1st. Zacks Investment Research upgraded shares of Newfield Exploration from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Thursday, October 18th. Edward Jones lowered shares of Newfield Exploration to a “hold” rating in a research note on Friday, November 2nd. Morgan Stanley decreased their target price on shares of Newfield Exploration from $31.00 to $23.00 and set a “hold” rating for the company in a research note on Monday, November 5th. Finally, SunTrust Banks cut their price objective on shares of Newfield Exploration from $30.00 to $23.00 and set a “hold” rating for the company in a research report on Monday, October 29th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $35.47.
Shares of NFX stock opened at $16.44 on Friday. Newfield Exploration Co. has a 1 year low of $16.13 and a 1 year high of $35.20. The company has a quick ratio of 0.70, a current ratio of 0.72 and a debt-to-equity ratio of 1.30. The firm has a market cap of $3.37 billion, a PE ratio of 4.83, a price-to-earnings-growth ratio of 0.39 and a beta of 1.66.
Newfield Exploration (NYSE:NFX) last issued its earnings results on Wednesday, October 31st. The energy company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.15. The company had revenue of $711.00 million during the quarter, compared to the consensus estimate of $661.27 million. Newfield Exploration had a net margin of 21.14% and a return on equity of 43.65%. Newfield Exploration’s quarterly revenue was up 62.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 EPS. On average, sell-side analysts forecast that Newfield Exploration Co. will post 3.58 earnings per share for the current fiscal year.
In related news, insider Lee K. Boothby sold 16,161 shares of the company’s stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $29.25, for a total value of $472,709.25. Following the completion of the transaction, the insider now owns 194,420 shares of the company’s stock, valued at approximately $5,686,785. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.59% of the company’s stock.
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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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