Alliancebernstein L.P. boosted its stake in Newfield Exploration Co. (NYSE:NFX) by 4.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 427,720 shares of the energy company’s stock after acquiring an additional 18,992 shares during the period. Alliancebernstein L.P. owned 0.21% of Newfield Exploration worth $12,331,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. NumerixS Investment Technologies Inc acquired a new stake in Newfield Exploration in the second quarter valued at $142,000. Signition LP acquired a new stake in Newfield Exploration in the second quarter valued at $201,000. Commonwealth Equity Services LLC acquired a new stake in Newfield Exploration in the second quarter valued at $218,000. Piedmont Investment Advisors Inc. raised its holdings in shares of Newfield Exploration by 215.8% during the third quarter. Piedmont Investment Advisors Inc. now owns 7,298 shares of the energy company’s stock worth $210,000 after purchasing an additional 4,987 shares during the period. Finally, MAI Capital Management acquired a new stake in shares of Newfield Exploration during the second quarter worth $233,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of Newfield Exploration from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Wednesday, September 26th. Susquehanna Bancshares reissued a “neutral” rating on shares of Newfield Exploration in a report on Friday, November 2nd. ValuEngine cut shares of Newfield Exploration from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. UBS Group cut shares of Newfield Exploration from a “positive” rating to a “neutral” rating in a report on Friday, November 2nd. Finally, Edward Jones cut shares of Newfield Exploration to a “hold” rating in a report on Friday, November 2nd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the company. Newfield Exploration has an average rating of “Hold” and a consensus price target of $35.47.
Newfield Exploration stock opened at $16.44 on Friday. The stock has a market cap of $3.45 billion, a PE ratio of 7.65, a PEG ratio of 0.40 and a beta of 1.66. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.72 and a quick ratio of 0.70. Newfield Exploration Co. has a one year low of $16.13 and a one year high of $35.20.
Newfield Exploration (NYSE:NFX) last released its quarterly earnings results on Wednesday, October 31st. The energy company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.86 by $0.15. The business had revenue of $711.00 million during the quarter, compared to analyst estimates of $661.27 million. Newfield Exploration had a net margin of 21.14% and a return on equity of 43.65%. The company’s quarterly revenue was up 62.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Equities research analysts predict that Newfield Exploration Co. will post 3.58 EPS for the current year.
In other news, insider Lee K. Boothby sold 16,161 shares of the company’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $29.25, for a total transaction of $472,709.25. Following the completion of the transaction, the insider now owns 194,420 shares in the company, valued at $5,686,785. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.59% of the stock is currently owned by corporate insiders.
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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