Point72 Asset Management L.P. acquired a new stake in Newfield Exploration Company (NYSE:NFX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 600,000 shares of the energy company’s stock, valued at approximately $17,802,000. Point72 Asset Management L.P. owned approximately 0.30% of Newfield Exploration at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Newfield Exploration by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 23,677,528 shares of the energy company’s stock valued at $673,862,000 after purchasing an additional 760,793 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Newfield Exploration by 0.4% in the 2nd quarter. BlackRock Inc. now owns 13,843,741 shares of the energy company’s stock valued at $393,993,000 after purchasing an additional 55,230 shares in the last quarter. State Street Corp lifted its stake in shares of Newfield Exploration by 5.6% in the 2nd quarter. State Street Corp now owns 12,109,780 shares of the energy company’s stock valued at $344,646,000 after purchasing an additional 638,807 shares in the last quarter. FMR LLC lifted its stake in shares of Newfield Exploration by 9.9% in the 2nd quarter. FMR LLC now owns 10,459,662 shares of the energy company’s stock valued at $297,683,000 after purchasing an additional 938,740 shares in the last quarter. Finally, Boston Partners lifted its stake in shares of Newfield Exploration by 0.9% in the 3rd quarter. Boston Partners now owns 5,627,037 shares of the energy company’s stock valued at $166,954,000 after purchasing an additional 51,835 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Juanita F. Romans sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $30.02, for a total value of $105,070.00. Following the completion of the sale, the director now directly owns 39,034 shares in the company, valued at approximately $1,171,800.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lee K. Boothby sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $31.70, for a total value of $380,400.00. Following the completion of the sale, the chief executive officer now owns 255,322 shares of the company’s stock, valued at $8,093,707.40. The disclosure for this sale can be found here. Insiders have sold a total of 39,500 shares of company stock worth $1,210,270 over the last 90 days. 0.54% of the stock is owned by company insiders.
Newfield Exploration Company (NYSE NFX) traded down $0.44 during mid-day trading on Friday, reaching $28.63. The company’s stock had a trading volume of 1,719,400 shares, compared to its average volume of 2,907,493. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 1.87. Newfield Exploration Company has a 52 week low of $24.41 and a 52 week high of $45.53. The stock has a market cap of $5,720.00, a P/E ratio of 14.46, a PEG ratio of 1.19 and a beta of 1.44.
Newfield Exploration (NYSE:NFX) last posted its quarterly earnings data on Tuesday, October 31st. The energy company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.09. Newfield Exploration had a return on equity of 35.28% and a net margin of 20.62%. The company had revenue of $439.00 million for the quarter, compared to the consensus estimate of $419.75 million. During the same period in the previous year, the business earned $0.45 EPS. Newfield Exploration’s revenue for the quarter was up 12.0% compared to the same quarter last year. equities research analysts anticipate that Newfield Exploration Company will post 2.11 EPS for the current fiscal year.
Several equities research analysts recently commented on the company. Piper Jaffray Companies dropped their target price on Newfield Exploration from $53.00 to $41.00 and set an “overweight” rating on the stock in a report on Monday, September 18th. Credit Suisse Group assumed coverage on Newfield Exploration in a report on Monday. They set a “neutral” rating and a $30.00 target price on the stock. BMO Capital Markets set a $34.00 target price on Newfield Exploration and gave the company a “buy” rating in a report on Tuesday, October 10th. Zacks Investment Research downgraded Newfield Exploration from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Finally, Jefferies Group set a $40.00 target price on Newfield Exploration and gave the company a “buy” rating in a report on Tuesday, August 29th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $37.86.
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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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