Fayez Sarofim & Co. Has $3,454,000 Position in Newfield Exploration Company (NFX)
Fayez Sarofim & Co. continued to hold its stake in Newfield Exploration Company (NYSE:NFX) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 121,375 shares of the energy company’s stock at the close of the second quarter. Fayez Sarofim & Co. owned 0.06% of Newfield Exploration worth $3,454,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of NFX. Pacer Advisors Inc. raised its stake in shares of Newfield Exploration by 8.5% in the second quarter. Pacer Advisors Inc. now owns 4,059 shares of the energy company’s stock valued at $116,000 after purchasing an additional 319 shares in the last quarter. Global X Management Co. LLC raised its stake in Newfield Exploration by 30.5% during the first quarter. Global X Management Co. LLC now owns 3,311 shares of the energy company’s stock worth $122,000 after acquiring an additional 774 shares in the last quarter. Dupont Capital Management Corp acquired a new position in Newfield Exploration during the second quarter worth $131,000. Ameritas Investment Partners Inc. acquired a new position in Newfield Exploration during the first quarter worth $175,000. Finally, Riverhead Capital Management LLC raised its stake in Newfield Exploration by 17.1% during the second quarter. Riverhead Capital Management LLC now owns 6,922 shares of the energy company’s stock worth $197,000 after acquiring an additional 1,013 shares in the last quarter. Institutional investors and hedge funds own 99.15% of the company’s stock.
Shares of Newfield Exploration Company (NYSE:NFX) traded up 0.77% during trading on Monday, reaching $27.32. The company’s stock had a trading volume of 308,115 shares. The firm has a market cap of $5.40 billion, a PE ratio of 17.72 and a beta of 1.49. Newfield Exploration Company has a 12 month low of $24.41 and a 12 month high of $50.00. The company’s 50 day moving average price is $26.10 and its 200 day moving average price is $30.86.
Newfield Exploration (NYSE:NFX) last released its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. The company had revenue of $402.00 million during the quarter, compared to the consensus estimate of $413.70 million. During the same quarter last year, the firm posted $0.32 EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts predict that Newfield Exploration Company will post $1.87 earnings per share for the current year.
Several research firms have issued reports on NFX. Goldman Sachs Group, Inc. (The) upgraded Newfield Exploration from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $52.00 to $45.00 in a research note on Tuesday, May 30th. Stifel Nicolaus reiterated a “buy” rating and set a $48.00 price objective on shares of Newfield Exploration in a research note on Friday, May 26th. Credit Suisse Group reiterated an “outperform” rating and set a $47.00 price objective on shares of Newfield Exploration in a research note on Friday, June 2nd. BidaskClub upgraded Newfield Exploration from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Finally, Royal Bank Of Canada set a $54.00 price objective on Newfield Exploration and gave the stock a “buy” rating in a research note on Saturday, June 3rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $41.44.
In related news, Director Roger B. Plank purchased 3,000 shares of Newfield Exploration stock in a transaction on Friday, August 11th. The shares were purchased at an average price of $25.98 per share, for a total transaction of $77,940.00. Following the transaction, the director now owns 30,787 shares of the company’s stock, valued at approximately $799,846.26. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Lee K. Boothby sold 12,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $26.18, for a total value of $314,160.00. Following the completion of the sale, the insider now owns 279,322 shares in the company, valued at approximately $7,312,649.96. The disclosure for this sale 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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