State of Tennessee Treasury Department increased its holdings in Newfield Exploration Co. (NYSE:NFX) by 42.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,019 shares of the energy company’s stock after purchasing an additional 22,817 shares during the quarter. State of Tennessee Treasury Department’s holdings in Newfield Exploration were worth $2,429,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Vident Investment Advisory LLC bought a new stake in Newfield Exploration during the third quarter worth about $212,000. MAI Capital Management purchased a new position in Newfield Exploration in the fourth quarter worth about $240,000. Robeco Institutional Asset Management B.V. purchased a new position in Newfield Exploration in the fourth quarter worth about $257,000. ARP Americas LP purchased a new position in Newfield Exploration in the fourth quarter worth about $259,000. Finally, Commerce Bank purchased a new position in shares of Newfield Exploration during the third quarter valued at approximately $246,000. 99.82% of the stock is currently owned by institutional investors and hedge funds.
Newfield Exploration Co. (NFX) traded up $0.04 during trading on Wednesday, reaching $23.54. 3,185,812 shares of the company were exchanged, compared to its average volume of 3,794,441. Newfield Exploration Co. has a 1 year low of $22.72 and a 1 year high of $37.61. The firm has a market cap of $4,653.53, a PE ratio of 11.05, a P/E/G ratio of 0.60 and a beta of 1.57. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.73.
Newfield Exploration (NYSE:NFX) last announced its earnings results on Tuesday, February 20th. The energy company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.11. Newfield Exploration had a net margin of 24.17% and a return on equity of 35.57%. The company had revenue of $509.00 million for the quarter, compared to analysts’ expectations of $497.95 million. During the same quarter in the previous year, the company posted $0.49 EPS. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. sell-side analysts predict that Newfield Exploration Co. will post 2.94 EPS for the current fiscal year.
In other Newfield Exploration news, Director Thomas G. Ricks purchased 8,250 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were bought at an average cost of $23.78 per share, for a total transaction of $196,185.00. Following the completion of the purchase, the director now directly owns 66,447 shares of the company’s stock, valued at $1,580,109.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Lee K. Boothby sold 12,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $31.84, for a total transaction of $382,080.00. Following the sale, the chief executive officer now owns 223,235 shares in the company, valued at $7,107,802.40. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.
A number of analysts have commented on NFX shares. UBS Group started coverage on shares of Newfield Exploration in a research report on Wednesday, March 7th. They issued a “buy” rating and a $30.00 price target for the company. B. Riley set a $36.00 target price on shares of Newfield Exploration and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Morgan Stanley upped their price target on shares of Newfield Exploration from $33.00 to $37.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. BMO Capital Markets set a $34.00 price target on shares of Newfield Exploration and gave the company a “hold” rating in a research note on Tuesday, November 14th. Finally, Jefferies Group set a $35.00 target price on shares of Newfield Exploration and gave the company a “buy” rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $37.59.
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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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