Bridgewater Associates LP Grows Holdings in Newfield Exploration Company (NFX)
Bridgewater Associates LP raised its holdings in shares of Newfield Exploration Company (NYSE:NFX) by 604.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 825,717 shares of the energy company’s stock after purchasing an additional 708,436 shares during the period. Newfield Exploration accounts for approximately 0.2% of Bridgewater Associates LP’s holdings, making the stock its 28th biggest holding. Bridgewater Associates LP owned about 0.41% of Newfield Exploration worth $23,500,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in NFX. Nationwide Fund Advisors lifted its position in Newfield Exploration by 8.8% during the 1st quarter. Nationwide Fund Advisors now owns 59,026 shares of the energy company’s stock valued at $2,179,000 after purchasing an additional 4,786 shares during the period. Strs Ohio raised its position in shares of Newfield Exploration by 11.4% in the 1st quarter. Strs Ohio now owns 14,919 shares of the energy company’s stock valued at $550,000 after acquiring an additional 1,521 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Newfield Exploration by 2.7% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 16,253 shares of the energy company’s stock valued at $599,000 after acquiring an additional 431 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Newfield Exploration by 141.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 23,400 shares of the energy company’s stock valued at $864,000 after acquiring an additional 13,700 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in shares of Newfield Exploration by 14.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 5,700 shares of the energy company’s stock valued at $210,000 after acquiring an additional 700 shares during the period. Institutional investors own 99.15% of the company’s stock.
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A number of analysts recently weighed in on the stock. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $36.00 price target (down from $40.00) on shares of Newfield Exploration in a research report on Wednesday, August 9th. BidaskClub downgraded shares of Newfield Exploration from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 21st. Jefferies Group LLC set a $40.00 price target on shares of Newfield Exploration and gave the company a “buy” rating in a research report on Tuesday, August 29th. Barclays PLC cut their price target on shares of Newfield Exploration from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 3rd. Finally, Stifel Nicolaus set a $37.00 price target on shares of Newfield Exploration and gave the company a “buy” rating in a research report on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $42.05.
Shares of Newfield Exploration Company (NFX) traded up 4.42% during trading on Wednesday, hitting $26.96. 1,096,193 shares of the stock traded hands. The firm has a market cap of $5.33 billion, a P/E ratio of 17.48 and a beta of 1.49. Newfield Exploration Company has a 52 week low of $24.41 and a 52 week high of $50.00. The company has a 50-day moving average of $26.21 and a 200-day moving average of $31.06.
Newfield Exploration (NYSE:NFX) last released its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.01). The firm had revenue of $402.00 million for the quarter, compared to the consensus estimate of $413.70 million. Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 EPS. On average, analysts forecast that Newfield Exploration Company will post $1.87 EPS for the current fiscal year.
In other news, insider Lee K. Boothby sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $26.18, for a total transaction of $314,160.00. Following the completion of the sale, the insider now owns 279,322 shares in the company, valued at $7,312,649.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Roger B. Plank acquired 3,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were purchased at an average price of $25.98 per share, with a total value of $77,940.00. Following the acquisition, the director now owns 30,787 shares of the company’s stock, valued at $799,846.26. The disclosure for this purchase can be found here. Insiders own 0.54% of the company’s stock.
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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