Meadow Creek Investment Management LLC boosted its stake in shares of Newfield Exploration Co. (NYSE:NFX) by 145.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 208,656 shares of the energy company’s stock after purchasing an additional 123,536 shares during the period. Meadow Creek Investment Management LLC owned approximately 0.10% of Newfield Exploration worth $6,579,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in NFX. BlackRock Inc. increased its holdings in Newfield Exploration by 1.5% in the 4th quarter. BlackRock Inc. now owns 13,961,934 shares of the energy company’s stock worth $440,218,000 after acquiring an additional 208,148 shares in the last quarter. Prudential Financial Inc. increased its holdings in Newfield Exploration by 26.9% in the 3rd quarter. Prudential Financial Inc. now owns 4,114,290 shares of the energy company’s stock worth $122,071,000 after acquiring an additional 872,434 shares in the last quarter. Geode Capital Management LLC increased its holdings in Newfield Exploration by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 2,163,284 shares of the energy company’s stock worth $68,062,000 after acquiring an additional 67,472 shares in the last quarter. Schroder Investment Management Group increased its holdings in Newfield Exploration by 70.3% in the 3rd quarter. Schroder Investment Management Group now owns 2,105,206 shares of the energy company’s stock worth $62,209,000 after acquiring an additional 869,092 shares in the last quarter. Finally, Two Sigma Advisers LP increased its holdings in Newfield Exploration by 33.3% in the 4th quarter. Two Sigma Advisers LP now owns 2,041,087 shares of the energy company’s stock worth $64,355,000 after acquiring an additional 509,757 shares in the last quarter. 99.82% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Newfield Exploration from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 31st. KLR Group lowered shares of Newfield Exploration from a “buy” rating to a “hold” rating and set a $36.00 target price for the company. in a report on Tuesday, January 23rd. Jefferies Group set a $35.00 target price on shares of Newfield Exploration and gave the stock a “buy” rating in a report on Friday, February 23rd. BMO Capital Markets reaffirmed a “market perform” rating and set a $29.00 target price (down previously from $36.00) on shares of Newfield Exploration in a report on Friday, February 23rd. Finally, Piper Jaffray reaffirmed a “buy” rating and set a $48.00 target price on shares of Newfield Exploration in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $37.30.
In other news, Director Roger B. Plank bought 2,000 shares of Newfield Exploration stock in a transaction that occurred on Wednesday, March 28th. The shares were purchased at an average price of $23.38 per share, with a total value of $46,760.00. Following the completion of the acquisition, the director now directly owns 32,787 shares in the company, valued at $766,560.06. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lee K. Boothby sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $31.75, for a total transaction of $381,000.00. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.
Shares of NFX opened at $24.25 on Friday. The stock has a market cap of $4,755.39, a PE ratio of 11.28, a price-to-earnings-growth ratio of 0.67 and a beta of 1.53. Newfield Exploration Co. has a 1 year low of $22.72 and a 1 year high of $37.43. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.89 and a current ratio of 0.91.
Newfield Exploration (NYSE:NFX) last issued its quarterly earnings results on Tuesday, February 20th. The energy company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.11. The business had revenue of $509.00 million for the quarter, compared to analysts’ expectations of $497.95 million. Newfield Exploration had a net margin of 24.17% and a return on equity of 35.57%. The business’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 earnings per share. analysts predict that Newfield Exploration Co. will post 3.02 EPS for the current year.
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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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