Riverhead Capital Management LLC Sells 28,509 Shares of Newfield Exploration Company (NFX)

Riverhead Capital Management LLC Sells 28,509 Shares of Newfield Exploration Company (NFX)

Riverhead Capital Management LLC lowered its stake in Newfield Exploration Company (NYSE:NFX) by 85.8% during the third quarter, Holdings Channel reports. The fund owned 4,722 shares of the energy company’s stock after selling 28,509 shares during the period. Riverhead Capital Management LLC’s holdings in Newfield Exploration Company were worth $205,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Daiwa Securities Group Inc. acquired a new stake in Newfield Exploration Company during the second quarter valued at approximately $221,000. Shell Asset Management Co. acquired a new stake in Newfield Exploration Company during the second quarter valued at approximately $333,000. Bank of Montreal Can acquired a new stake in Newfield Exploration Company during the second quarter valued at approximately $6,419,000. Conning Inc. acquired a new stake in Newfield Exploration Company during the second quarter valued at approximately $229,000. Finally, Retirement Systems of Alabama increased its stake in Newfield Exploration Company by 103.0% in the second quarter. Retirement Systems of Alabama now owns 209,687 shares of the energy company’s stock valued at $9,264,000 after buying an additional 106,377 shares during the last quarter. 97.00% of the stock is owned by institutional investors.

Shares of Newfield Exploration Company (NYSE:NFX) traded down 0.90% during trading on Friday, hitting $41.78. 1,170,947 shares of the stock were exchanged. The firm has a 50 day moving average of $43.19 and a 200-day moving average of $43.10. Newfield Exploration Company has a 52-week low of $20.84 and a 52-week high of $50.00. The stock’s market cap is $8.24 billion.

Newfield Exploration Company (NYSE:NFX) last posted its quarterly earnings data on Tuesday, November 1st. The energy company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.18. The company had revenue of $392 million for the quarter, compared to the consensus estimate of $414.42 million. Newfield Exploration Company had a negative net margin of 134.32% and a positive return on equity of 12.41%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 earnings per share. Equities research analysts anticipate that Newfield Exploration Company will post $1.06 earnings per share for the current fiscal year.

Several equities research analysts have recently commented on NFX shares. Evercore ISI downgraded shares of Newfield Exploration Company from a “buy” rating to a “hold” rating and set a $52.00 target price for the company. in a research report on Friday, October 14th. Zacks Investment Research raised shares of Newfield Exploration Company from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Monday, October 17th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $46.00 price objective on shares of Newfield Exploration Company in a research report on Wednesday, October 19th. Morgan Stanley began coverage on shares of Newfield Exploration Company in a research report on Monday, October 31st. They issued an “equal weight” rating and a $52.00 price objective for the company. Finally, Vetr raised shares of Newfield Exploration Company from a “buy” rating to a “strong-buy” rating and set a $55.00 price objective for the company in a research report on Tuesday, November 1st. Seven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $48.93.

In related news, insider Lee K. Boothby sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 28th. The shares were sold at an average price of $41.72, for a total value of $1,251,600.00. Following the transaction, the insider now owns 260,162 shares of the company’s stock, valued at $10,853,958.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.44% of the company’s stock.

About Newfield Exploration Company

Newfield Exploration Company is an independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids (NGLs). The Company’s operations are focused primarily on large scale, onshore liquids-rich resource plays in the United States. Its segments are the United States and China.

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