BlueMountain Capital Management LLC Has $163,000 Stake in Newfield Exploration Company (NFX)
BlueMountain Capital Management LLC cut its stake in Newfield Exploration Company (NYSE:NFX) by 81.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,740 shares of the energy company’s stock after selling 24,620 shares during the quarter. BlueMountain Capital Management LLC’s holdings in Newfield Exploration were worth $163,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Newfield Exploration by 3.5% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 32,700 shares of the energy company’s stock valued at $1,208,000 after acquiring an additional 1,100 shares during the period. Suntrust Banks Inc. purchased a new position in shares of Newfield Exploration in the 1st quarter valued at $423,000. Cipher Capital LP increased its holdings in shares of Newfield Exploration by 13.8% in the 1st quarter. Cipher Capital LP now owns 36,718 shares of the energy company’s stock valued at $1,355,000 after acquiring an additional 4,458 shares during the period. Atlantic Trust Group LLC increased its holdings in shares of Newfield Exploration by 22.8% in the 2nd quarter. Atlantic Trust Group LLC now owns 253,908 shares of the energy company’s stock valued at $7,226,000 after acquiring an additional 47,194 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Newfield Exploration by 106.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 144,732 shares of the energy company’s stock valued at $4,119,000 after acquiring an additional 74,768 shares during the period. Institutional investors and hedge funds own 99.15% of the company’s stock.
Shares of Newfield Exploration Company (NYSE NFX) opened at 28.82 on Friday. The firm has a market cap of $5.69 billion, a PE ratio of 18.69 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 firm’s 50-day moving average price is $26.05 and its 200-day moving average price is $30.64.
Newfield Exploration (NYSE:NFX) last issued its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.01). The firm had revenue of $402.00 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 EPS. Analysts expect that Newfield Exploration Company will post $1.87 earnings per share for the current year.
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A number of brokerages have recently issued reports on NFX. 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 report on Wednesday, August 9th. Piper Jaffray Companies cut their price target on Newfield Exploration from $53.00 to $41.00 and set an “overweight” rating on the stock in a report on Monday, September 18th. BidaskClub downgraded Newfield Exploration from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. Jefferies Group LLC set a $40.00 price target on Newfield Exploration and gave the company a “buy” rating in a report on Tuesday, August 29th. Finally, Barclays PLC cut their price target on Newfield Exploration from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the company’s stock. Newfield Exploration has an average rating of “Buy” and an average price target of $41.44.
In other news, Director Roger B. Plank acquired 3,000 shares of the company’s stock in a transaction on Friday, August 11th. The shares were bought at an average price of $25.98 per share, with a total value of $77,940.00. Following the completion of the acquisition, the director now owns 30,787 shares in the company, valued at approximately $799,846.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Lee K. Boothby sold 12,000 shares of the firm’s 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 directly owns 279,322 shares in the company, valued at approximately $7,312,649.96. The disclosure for this sale can be found here. Company 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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