Northwestern Mutual Investment Management Company LLC cut its stake in Newfield Exploration Company (NYSE:NFX) by 81.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,506 shares of the energy company’s stock after selling 32,696 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Newfield Exploration were worth $332,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP boosted its holdings in Newfield Exploration by 31.1% in the 1st quarter. Wellington Management Group LLP now owns 27,063,455 shares of the energy company’s stock valued at $998,913,000 after purchasing an additional 6,422,891 shares during the period. Vanguard Group Inc. boosted its holdings in Newfield Exploration by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 22,916,735 shares of the energy company’s stock valued at $845,856,000 after purchasing an additional 1,131,263 shares during the period. BlackRock Inc. boosted its holdings in Newfield Exploration by 2,798.4% in the 1st quarter. BlackRock Inc. now owns 13,788,511 shares of the energy company’s stock valued at $508,934,000 after purchasing an additional 13,312,785 shares during the period. State Street Corp boosted its holdings in Newfield Exploration by 10.3% in the 1st quarter. State Street Corp now owns 11,470,973 shares of the energy company’s stock valued at $423,392,000 after purchasing an additional 1,066,743 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in Newfield Exploration by 3.0% in the 1st quarter. Clearbridge Investments LLC now owns 8,865,153 shares of the energy company’s stock valued at $327,213,000 after purchasing an additional 256,245 shares during the period. 99.15% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on NFX. Goldman Sachs Group, Inc. (The) raised shares of Newfield Exploration from a “neutral” rating to a “buy” rating and reduced their price target for the company from $52.00 to $45.00 in a report on Tuesday, May 30th. Stifel Nicolaus reissued a “buy” rating and issued a $48.00 price target on shares of Newfield Exploration in a report on Friday, May 26th. Credit Suisse Group reissued an “outperform” rating and issued a $47.00 price target on shares of Newfield Exploration in a report on Friday, June 2nd. BidaskClub raised shares of Newfield Exploration from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Finally, Royal Bank Of Canada set a $54.00 price target on shares of Newfield Exploration and gave the company a “buy” rating in a report on Saturday, June 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company’s stock. Newfield Exploration presently has a consensus rating of “Buy” and an average price target of $42.05.
Shares of Newfield Exploration Company (NYSE NFX) opened at 27.11 on Monday. Newfield Exploration Company has a 12 month low of $24.41 and a 12 month high of $50.00. The firm has a market cap of $5.36 billion, a PE ratio of 17.58 and a beta of 1.49. The company’s 50 day moving average is $26.10 and its 200-day moving average is $30.86.
Newfield Exploration (NYSE:NFX) last posted its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.01). Newfield Exploration had a return on equity of 33.17% and a net margin of 18.82%. The firm had revenue of $402.00 million for the quarter, compared to the consensus estimate of $413.70 million. During the same period in the prior year, the company earned $0.32 EPS. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities research analysts predict that Newfield Exploration Company will post $1.87 EPS for the current year.
In other news, Director Roger B. Plank acquired 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average price of $25.98 per share, with a total value of $77,940.00. Following the completion of the transaction, the director now directly owns 30,787 shares of the company’s stock, valued at approximately $799,846.26. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lee K. Boothby sold 12,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $26.18, for a total transaction of $314,160.00. Following the sale, the insider now directly owns 279,322 shares of the company’s stock, valued at approximately $7,312,649.96. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.
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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