First Trust Advisors LP increased its holdings in shares of Newfield Exploration Co. (NYSE:NFX) by 55.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 565,068 shares of the energy company’s stock after acquiring an additional 200,565 shares during the period. First Trust Advisors LP’s holdings in Newfield Exploration were worth $16,291,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. NumerixS Investment Technologies Inc acquired a new stake in Newfield Exploration during the second quarter worth approximately $142,000. Amica Pension Fund Board of Trustees acquired a new stake in Newfield Exploration during the second quarter worth approximately $178,000. Amica Mutual Insurance Co. acquired a new stake in Newfield Exploration during the second quarter worth approximately $198,000. Signition LP acquired a new stake in Newfield Exploration during the second quarter worth approximately $201,000. Finally, Commonwealth Equity Services LLC bought a new position in Newfield Exploration in the second quarter worth approximately $218,000. 99.29% of the stock is owned by institutional investors and hedge funds.
In other news, insider Lee K. Boothby sold 16,161 shares of the firm’s stock in a transaction that occurred on 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 owns 194,420 shares in the company, valued at $5,686,785. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.59% of the stock is owned by company insiders.
Newfield Exploration (NYSE:NFX) last posted its earnings results on Wednesday, October 31st. The energy company reported $1.01 earnings per share for the quarter, beating the Zacks’ 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 quarter last year, the company earned $0.52 earnings per share. The company’s revenue for the quarter was up 62.0% on a year-over-year basis. Equities research analysts anticipate that Newfield Exploration Co. will post 3.59 EPS for the current fiscal year.
Several brokerages have issued reports on NFX. Citigroup lowered Newfield Exploration from a “buy” rating to a “neutral” rating and cut their price target for the stock from $36.00 to $24.00 in a report on Friday, November 2nd. Seaport Global Securities reiterated a “buy” rating on shares of Newfield Exploration in a report on Wednesday, July 25th. Zacks Investment Research lowered Newfield Exploration from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Morgan Stanley cut their price target on Newfield Exploration from $31.00 to $23.00 and set a “hold” rating on the stock in a report on Monday, November 5th. Finally, UBS Group lowered Newfield Exploration from a “positive” rating to a “neutral” rating in a report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $35.43.
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Newfield Exploration Company Profile
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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