Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Newfield Exploration Co. (NYSE:NFX) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,651 shares of the energy company’s stock, valued at approximately $273,000.
A number of other large investors have also bought and sold shares of the stock. Chevy Chase Trust Holdings Inc. raised its position in Newfield Exploration by 1.2% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 173,732 shares of the energy company’s stock valued at $5,155,000 after buying an additional 2,127 shares during the period. Fernwood Investment Management LLC raised its position in Newfield Exploration by 7.2% during the third quarter. Fernwood Investment Management LLC now owns 34,400 shares of the energy company’s stock valued at $1,021,000 after buying an additional 2,300 shares during the period. D.A. Davidson & CO. raised its position in Newfield Exploration by 28.4% during the third quarter. D.A. Davidson & CO. now owns 11,466 shares of the energy company’s stock valued at $340,000 after buying an additional 2,534 shares during the period. Stifel Financial Corp raised its position in Newfield Exploration by 6.6% during the third quarter. Stifel Financial Corp now owns 41,739 shares of the energy company’s stock valued at $1,239,000 after buying an additional 2,589 shares during the period. Finally, Swiss National Bank raised its position in Newfield Exploration by 0.4% during the fourth quarter. Swiss National Bank now owns 734,900 shares of the energy company’s stock valued at $23,171,000 after buying an additional 2,700 shares during the period. 99.82% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Thomas G. Ricks purchased 8,250 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was bought at an average price of $23.78 per share, for a total transaction of $196,185.00. Following the purchase, the director now owns 66,447 shares in the company, valued at approximately $1,580,109.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lee K. Boothby sold 12,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $31.75, for a total value of $381,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.
NFX has been the topic of several research reports. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $48.00 target price on shares of Newfield Exploration in a research report on Tuesday, January 9th. Bank of America raised Newfield Exploration from a “neutral” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Thursday, January 4th. Jefferies Group set a $40.00 target price on Newfield Exploration and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Cowen set a $40.00 target price on Newfield Exploration and gave the stock a “buy” rating in a research report on Thursday, January 18th. Finally, Scotiabank set a $39.00 target price on Newfield Exploration and gave the stock a “buy” rating in a research report on Saturday, November 25th. One 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. The stock currently has a consensus rating of “Buy” and an average price target of $37.55.
Shares of NFX stock opened at $23.40 on Wednesday. The stock has a market capitalization of $4,625.57, a PE ratio of 10.39, a PEG ratio of 0.58 and a beta of 1.57. Newfield Exploration Co. has a 52 week low of $22.72 and a 52 week high of $37.61. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.89 and a current ratio of 0.91.
Newfield Exploration (NYSE:NFX) last released its quarterly 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. The company had revenue of $509.00 million during the quarter, compared to the consensus estimate of $497.95 million. Newfield Exploration had a return on equity of 35.57% and a net margin of 24.17%. The firm’s revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 EPS. research analysts expect that Newfield Exploration Co. will post 3.03 earnings per share for the current year.
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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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