Geneva Advisors LLC raised its position in Newfield Exploration Co. (NYSE:NFX) by 6.8% during the first quarter, Holdings Channel reports. The fund owned 29,138 shares of the energy company’s stock after buying an additional 1,845 shares during the period. Geneva Advisors LLC’s holdings in Newfield Exploration were worth $1,075,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of NFX. Massey Quick & Co. LLC acquired a new position in Newfield Exploration during the fourth quarter worth about $122,000. Virtus Investment Advisers Inc. acquired a new position in Newfield Exploration during the third quarter worth about $124,000. Mn Services Vermogensbeheer B.V. increased its position in Newfield Exploration by 6.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,316 shares of the energy company’s stock worth $183,000 after buying an additional 310 shares during the last quarter. Cornerstone Wealth Management LLC acquired a new position in Newfield Exploration during the third quarter worth about $204,000. Finally, State of Alaska Department of Revenue acquired a new position in Newfield Exploration during the first quarter worth about $208,000. Institutional investors own 96.67% of the company’s stock.
Newfield Exploration Co. (NYSE:NFX) traded up 2.79% during trading on Friday, reaching $34.59. 3,445,004 shares of the company’s stock traded hands. The firm’s 50 day moving average is $35.32 and its 200-day moving average is $39.65. Newfield Exploration Co. has a 12 month low of $33.00 and a 12 month high of $50.00. The company’s market capitalization is $6.83 billion.
Newfield Exploration (NYSE:NFX) last issued its quarterly earnings results on Tuesday, May 2nd. The energy company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.12. The business had revenue of $417 million for the quarter, compared to the consensus estimate of $425.44 million. Newfield Exploration had a negative net margin of 134.32% and a positive return on equity of 12.41%. Analysts expect that Newfield Exploration Co. will post $2.13 EPS for the current fiscal year.
A number of research analysts have recently issued reports on NFX shares. Stifel Nicolaus restated a “buy” rating and issued a $48.00 price target on shares of Newfield Exploration in a research report on Wednesday, April 12th. Scotiabank set a $46.00 price target on shares of Newfield Exploration and gave the stock a “buy” rating in a research report on Monday, March 27th. Deutsche Bank AG raised their price target on shares of Newfield Exploration from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, March 7th. Jefferies Group LLC upgraded shares of Newfield Exploration from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Tuesday, January 17th. Finally, Canaccord Genuity set a $50.00 price target on shares of Newfield Exploration and gave the stock a “buy” rating in a research report on Thursday, January 12th. Seven equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $50.05.
In related news, insider Lee K. Boothby sold 9,000 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $36.88, for a total transaction of $331,920.00. Following the transaction, the insider now owns 263,817 shares in the company, valued at approximately $9,729,570.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James Kent Wells acquired 3,000 shares of the company’s stock in a transaction on Monday, February 27th. The shares were purchased at an average cost of $36.94 per share, with a total value of $110,820.00. Following the completion of the acquisition, the director now directly owns 11,563 shares in the company, valued at approximately $427,137.22. The disclosure for this purchase can be found here. 0.44% of the stock is owned by corporate insiders.
Newfield Exploration Company Profile
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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