Newfield Exploration Company (NFX) Position Reduced by Clinton Group Inc.
Clinton Group Inc. lessened its holdings in Newfield Exploration Company (NYSE:NFX) by 19.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,967 shares of the energy company’s stock after selling 12,930 shares during the quarter. Clinton Group Inc.’s holdings in Newfield Exploration were worth $1,507,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Caisse DE Depot ET Placement DU Quebec increased its position in Newfield Exploration by 3.5% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 32,700 shares of the energy company’s stock worth $1,208,000 after purchasing an additional 1,100 shares during the period. Schroder Investment Management Group raised its stake in shares of Newfield Exploration by 67.3% during the 2nd quarter. Schroder Investment Management Group now owns 1,236,114 shares of the energy company’s stock worth $35,353,000 after buying an additional 497,431 shares in the last quarter. Atlantic Trust Group LLC raised its stake in shares of Newfield Exploration by 22.8% during the 2nd quarter. Atlantic Trust Group LLC now owns 253,908 shares of the energy company’s stock worth $7,226,000 after buying an additional 47,194 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Newfield Exploration by 21.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,229 shares of the energy company’s stock worth $1,458,000 after buying an additional 8,972 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Newfield Exploration by 106.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 144,732 shares of the energy company’s stock worth $4,119,000 after buying an additional 74,768 shares in the last quarter. 99.15% of the stock is currently owned by institutional investors.
In related news, insider Lee K. Boothby sold 12,000 shares of Newfield Exploration stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $26.18, for a total value of $314,160.00. Following the transaction, the insider now owns 279,322 shares of the company’s stock, valued at approximately $7,312,649.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roger B. Plank purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average cost of $25.98 per share, for a total transaction of $77,940.00. Following the purchase, the director now directly owns 30,787 shares in the company, valued at approximately $799,846.26. The disclosure for this purchase can be found here. Corporate insiders own 0.54% of the company’s stock.
NFX has been the topic of a number of recent analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $46.00 price objective on shares of Newfield Exploration in a report on Thursday, July 6th. Zacks Investment Research downgraded Newfield Exploration from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Citigroup Inc. reduced their target price on Newfield Exploration from $50.00 to $36.00 and set a “buy” rating for the company in a report on Friday, July 21st. J P Morgan Chase & Co reissued an “overweight” rating and issued a $36.00 target price (down previously from $40.00) on shares of Newfield Exploration in a report on Wednesday, August 9th. Finally, Royal Bank Of Canada set a $42.00 target price on shares of Newfield Exploration and gave the stock a “buy” rating in a research report on Thursday, August 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $41.44.
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Newfield Exploration Company (NYSE:NFX) traded down 0.13% during midday trading on Wednesday, hitting $30.33. 121,729 shares of the company’s stock traded hands. The company has a market capitalization of $5.99 billion, a PE ratio of 19.67 and a beta of 1.53. The company has a 50 day moving average of $26.84 and a 200-day moving average of $30.25. Newfield Exploration Company has a 52 week low of $24.41 and a 52 week high of $50.00.
Newfield Exploration (NYSE:NFX) last issued its earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.01). The company had revenue of $402.00 million during the quarter, compared to analyst estimates of $413.70 million. Newfield Exploration had a return on equity of 33.17% and a net margin of 18.82%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 earnings per share. Equities research analysts predict that Newfield Exploration Company will post $1.87 earnings per share for the current year.
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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