Commerce Bank Buys New Holdings in Newfield Exploration Company (NFX)

Commerce Bank acquired a new position in Newfield Exploration Company (NYSE:NFX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,312 shares of the energy company’s stock, valued at approximately $246,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NFX. Renaissance Technologies LLC bought a new stake in shares of Newfield Exploration in the second quarter worth $42,542,000. FMR LLC grew its holdings in shares of Newfield Exploration by 9.9% in the second quarter. FMR LLC now owns 10,459,662 shares of the energy company’s stock worth $297,683,000 after acquiring an additional 938,740 shares during the period. Prudential Financial Inc. grew its holdings in shares of Newfield Exploration by 26.9% in the third 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 during the period. Vanguard Group Inc. grew its holdings in shares of Newfield Exploration by 3.3% in the second quarter. Vanguard Group Inc. now owns 23,677,528 shares of the energy company’s stock worth $673,862,000 after acquiring an additional 760,793 shares during the period. Finally, Bridgewater Associates LP grew its holdings in shares of Newfield Exploration by 604.1% in the second quarter. Bridgewater Associates LP now owns 825,717 shares of the energy company’s stock worth $23,500,000 after acquiring an additional 708,436 shares during the period. 98.76% of the stock is owned by institutional investors.

Several brokerages recently commented on NFX. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Newfield Exploration in a report on Tuesday, November 7th. TheStreet raised Newfield Exploration from a “d+” rating to a “c-” rating in a report on Monday, November 6th. Zacks Investment Research lowered Newfield Exploration from a “buy” rating to a “hold” rating in a report on Friday, November 10th. KeyCorp reissued a “hold” rating on shares of Newfield Exploration in a report on Monday, November 13th. Finally, SunTrust Banks, Inc. set a $37.00 price target on Newfield Exploration and gave the company a “buy” rating in a report on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $39.00.

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Newfield Exploration Company (NYSE:NFX) opened at $30.18 on Wednesday. The company has a market capitalization of $5,990.56, a P/E ratio of 14.93, a PEG ratio of 1.26 and a beta of 1.47. Newfield Exploration Company has a 52 week low of $24.41 and a 52 week high of $50.00. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.15 and a current ratio of 1.17.

Newfield Exploration (NYSE:NFX) last released its earnings results on Tuesday, October 31st. The energy company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. The firm had revenue of $439.00 million for the quarter, compared to analysts’ expectations of $419.75 million. Newfield Exploration had a return on equity of 35.28% and a net margin of 20.62%. The company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 earnings per share. sell-side analysts forecast that Newfield Exploration Company will post 2.06 EPS for the current year.

In related news, CEO Lee K. Boothby sold 12,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $31.70, for a total value of $380,400.00. Following the transaction, the chief executive officer now owns 255,322 shares of the company’s stock, valued at $8,093,707.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Juanita F. Romans sold 3,500 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $30.02, for a total value of $105,070.00. Following the completion of the transaction, the director now directly owns 39,034 shares in the company, valued at approximately $1,171,800.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,500 shares of company stock worth $1,148,830. 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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Institutional Ownership by Quarter for Newfield Exploration (NYSE:NFX)

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