LS Investment Advisors LLC increased its stake in Newfield Exploration Co. (NYSE:NFX) by 24.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,774 shares of the energy company’s stock after purchasing an additional 2,540 shares during the quarter. LS Investment Advisors LLC’s holdings in Newfield Exploration were worth $312,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Pendal Group Ltd lifted its holdings in Newfield Exploration by 51.2% in the first quarter. Pendal Group Ltd now owns 34,894 shares of the energy company’s stock worth $852,000 after purchasing an additional 11,817 shares during the period. American International Group Inc. lifted its holdings in Newfield Exploration by 20.8% in the 1st quarter. American International Group Inc. now owns 88,622 shares of the energy company’s stock valued at $2,164,000 after acquiring an additional 15,285 shares during the last quarter. ING Groep NV acquired a new stake in Newfield Exploration in the 1st quarter valued at about $498,000. Eaton Vance Management lifted its holdings in Newfield Exploration by 12.4% in the 1st quarter. Eaton Vance Management now owns 65,050 shares of the energy company’s stock valued at $1,589,000 after acquiring an additional 7,154 shares during the last quarter. Finally, New Amsterdam Partners LLC NY acquired a new stake in Newfield Exploration in the 1st quarter valued at about $1,466,000. 99.36% of the stock is owned by institutional investors and hedge funds.
NFX has been the subject of a number of research analyst reports. KLR Group downgraded shares of Newfield Exploration from a “buy” rating to a “hold” rating and set a $36.00 price target for the company. in a report on Tuesday, January 23rd. 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 report on Wednesday, January 24th. Zacks Investment Research downgraded shares of Newfield Exploration from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 31st. B. Riley initiated coverage on shares of Newfield Exploration in a report on Monday, February 5th. They issued a “buy” rating and a $46.00 price target for the company. Finally, Williams Capital set a $50.00 price target on shares of Newfield Exploration and gave the company a “buy” rating in a report on Wednesday, February 21st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the stock. Newfield Exploration has a consensus rating of “Hold” and an average price target of $36.74.
In other Newfield Exploration news, Director Roger B. Plank bought 2,000 shares of the company’s stock in a transaction dated Wednesday, March 28th. The shares were bought at an average price of $23.38 per share, for a total transaction of $46,760.00. Following the acquisition, the director now directly owns 32,787 shares of the company’s stock, valued at $766,560.06. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas G. Ricks bought 8,250 shares of the company’s stock in a transaction dated Thursday, March 1st. The stock was acquired at an average price of $23.78 per share, for a total transaction of $196,185.00. Following the acquisition, the director now directly owns 66,447 shares in the company, valued at $1,580,109.66. The disclosure for this purchase can be found here. 0.59% of the stock is owned by corporate insiders.
NFX stock opened at $28.99 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 1.62. Newfield Exploration Co. has a one year low of $22.72 and a one year high of $35.20. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 0.74 and a beta of 1.51.
Newfield Exploration (NYSE:NFX) last posted its quarterly earnings data on Tuesday, May 1st. The energy company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.08. The company had revenue of $580.00 million during the quarter, compared to analyst estimates of $552.56 million. Newfield Exploration had a net margin of 18.96% and a return on equity of 36.67%. The business’s quarterly revenue was up 39.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 earnings per share. sell-side analysts predict that Newfield Exploration Co. will post 3.14 EPS for the current year.
About Newfield Exploration
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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