Neuberger Berman Group LLC grew its position in shares of Newfield Exploration Co. (NYSE:NFX) by 52.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,588 shares of the energy company’s stock after buying an additional 4,345 shares during the quarter. Neuberger Berman Group LLC’s holdings in Newfield Exploration were worth $373,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Piedmont Investment Advisors LLC acquired a new stake in Newfield Exploration in the third quarter worth $1,206,000. California Public Employees Retirement System raised its holdings in Newfield Exploration by 9.1% in the third quarter. California Public Employees Retirement System now owns 425,649 shares of the energy company’s stock worth $12,629,000 after purchasing an additional 35,549 shares during the period. Point72 Asset Management L.P. acquired a new stake in Newfield Exploration in the third quarter worth $17,802,000. Earnest Partners LLC raised its holdings in Newfield Exploration by 0.4% in the third quarter. Earnest Partners LLC now owns 862,684 shares of the energy company’s stock worth $25,596,000 after purchasing an additional 3,292 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in Newfield Exploration by 3,994.5% in the third quarter. Janus Henderson Group PLC now owns 1,899,262 shares of the energy company’s stock worth $56,351,000 after purchasing an additional 1,852,876 shares during the period. 99.71% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on the stock. Piper Jaffray Companies reiterated a “buy” rating and issued a $48.00 target price on shares of Newfield Exploration in a report on Tuesday. Bank of America upgraded shares of Newfield Exploration from a “neutral” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Thursday, January 4th. Jefferies Group set a $40.00 price objective on shares of Newfield Exploration and gave the stock a “buy” rating in a report on Wednesday, December 20th. Seaport Global Securities upgraded shares of Newfield Exploration from a “sell” rating to a “neutral” rating in a report on Tuesday, December 19th. Finally, JPMorgan Chase & Co. downgraded shares of Newfield Exploration from an “overweight” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $38.59.
Shares of Newfield Exploration Co. (NFX) opened at $34.60 on Friday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.15 and a current ratio of 1.17. The stock has a market cap of $6,910.00, a PE ratio of 20.00, a PEG ratio of 1.37 and a beta of 1.45. Newfield Exploration Co. has a 12 month low of $24.41 and a 12 month high of $43.74.
Newfield Exploration (NYSE:NFX) last posted its earnings results on Tuesday, October 31st. The energy company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. Newfield Exploration had a net margin of 20.62% and a return on equity of 35.28%. The company had revenue of $439.00 million during the quarter, compared to analysts’ expectations of $419.75 million. During the same quarter last year, the company posted $0.45 EPS. Newfield Exploration’s quarterly revenue was up 12.0% compared to the same quarter last year. research analysts forecast that Newfield Exploration Co. will post 2.14 earnings per share for the current year.
In other Newfield Exploration news, Director Juanita F. Romans sold 3,500 shares of Newfield Exploration stock in a transaction dated Friday, November 3rd. The shares were 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 owns 39,034 shares in the company, valued at approximately $1,171,800.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lee K. Boothby sold 12,000 shares of Newfield Exploration stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $31.70, for a total transaction 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 approximately $8,093,707.40. The disclosure for this sale can be found here. Insiders sold a total of 39,500 shares of company stock valued at $1,243,150 in the last quarter. Corporate insiders own 0.54% of the company’s stock.
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Newfield Exploration Company Profile
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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