Texas Permanent School Fund decreased its holdings in shares of Newfield Exploration Co. (NYSE:NFX) by 8.0% during the 3rd quarter, Holdings Channel reports. The firm owned 44,865 shares of the energy company’s stock after selling 3,875 shares during the period. Texas Permanent School Fund’s holdings in Newfield Exploration were worth $1,293,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the company. NumerixS Investment Technologies Inc purchased a new position in shares of Newfield Exploration in the 2nd quarter worth $142,000. Amica Pension Fund Board of Trustees purchased a new position in shares of Newfield Exploration in the 2nd quarter worth $178,000. Amica Mutual Insurance Co. purchased a new position in shares of Newfield Exploration in the 2nd quarter worth $198,000. Signition LP purchased a new position in shares of Newfield Exploration in the 2nd quarter worth $201,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of Newfield Exploration in the 2nd quarter worth $218,000. Institutional investors and hedge funds own 99.29% of the company’s stock.
NYSE:NFX opened at $21.83 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.70 and a current ratio of 0.72. Newfield Exploration Co. has a 12 month low of $18.67 and a 12 month high of $35.20. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 6.29, a P/E/G ratio of 0.51 and a beta of 1.65.
Newfield Exploration (NYSE:NFX) last released its quarterly earnings data on Wednesday, October 31st. The energy company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.86 by $0.15. Newfield Exploration had a return on equity of 43.65% and a net margin of 21.14%. The company had revenue of $711.00 million for the quarter, compared to analyst estimates of $661.27 million. During the same period last year, the company posted $0.52 earnings per share. The firm’s revenue was up 62.0% compared to the same quarter last year. Equities research analysts anticipate that Newfield Exploration Co. will post 3.59 EPS for the current fiscal year.
In other Newfield Exploration news, insider Lee K. Boothby sold 16,161 shares of the firm’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $29.25, for a total value of $472,709.25. Following the transaction, the insider now directly owns 194,420 shares of the company’s stock, valued at $5,686,785. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.59% of the company’s stock.
NFX has been the topic of several research reports. Morgan Stanley increased their target price on Newfield Exploration from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Wednesday, September 26th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $37.00 target price on shares of Newfield Exploration in a research report on Wednesday, July 18th. Piper Jaffray Companies initiated coverage on Newfield Exploration in a research report on Friday, September 28th. They issued an “overweight” rating on the stock. ValuEngine lowered Newfield Exploration from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 2nd. Finally, Zacks Investment Research raised Newfield Exploration from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, October 18th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $35.43.
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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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