Bank of America Corp DE cut its holdings in Newfield Exploration Co. (NYSE:NFX) by 18.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,033,731 shares of the energy company’s stock after selling 681,243 shares during the quarter. Bank of America Corp DE’s holdings in Newfield Exploration were worth $91,771,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Dynamic Technology Lab Private Ltd bought a new stake in Newfield Exploration in the second quarter worth about $493,000. AMP Capital Investors Ltd raised its position in Newfield Exploration by 80.0% in the second quarter. AMP Capital Investors Ltd now owns 117,179 shares of the energy company’s stock worth $3,543,000 after acquiring an additional 52,087 shares in the last quarter. Rampart Investment Management Company LLC raised its position in Newfield Exploration by 196.5% in the second quarter. Rampart Investment Management Company LLC now owns 13,381 shares of the energy company’s stock worth $405,000 after acquiring an additional 8,868 shares in the last quarter. Van ECK Associates Corp raised its position in Newfield Exploration by 1.8% in the second quarter. Van ECK Associates Corp now owns 3,472,064 shares of the energy company’s stock worth $105,030,000 after acquiring an additional 62,641 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in Newfield Exploration by 125.7% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 48,549 shares of the energy company’s stock worth $1,469,000 after buying an additional 27,040 shares during the period. Hedge funds and other institutional investors own 99.29% of the company’s stock.
NYSE:NFX opened at $27.02 on Tuesday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.70 and a current ratio of 0.72. Newfield Exploration Co. has a fifty-two week low of $22.72 and a fifty-two week high of $35.20. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 0.63 and a beta of 1.44.
Newfield Exploration (NYSE:NFX) last released its earnings results on Tuesday, July 31st. The energy company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.12. Newfield Exploration had a return on equity of 41.07% and a net margin of 17.53%. The company had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $619.07 million. During the same quarter in the previous year, the business posted $0.43 EPS. The business’s revenue for the quarter was up 68.9% on a year-over-year basis. equities analysts forecast that Newfield Exploration Co. will post 3.44 earnings per share for the current fiscal year.
Several analysts have issued reports on the company. B. Riley boosted their price objective on Newfield Exploration from $36.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, June 11th. Zacks Investment Research upgraded Newfield Exploration from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Monday, July 16th. Seaport Global Securities restated a “buy” rating on shares of Newfield Exploration in a report on Wednesday, July 25th. Williams Capital restated a “buy” rating and set a $44.00 price objective on shares of Newfield Exploration in a report on Wednesday, May 23rd. Finally, Goldman Sachs Group downgraded Newfield Exploration from a “buy” rating to a “neutral” rating in a report on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $37.50.
About Newfield Exploration
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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