Northern Trust Corp Sells 50,749 Shares of Newfield Exploration Company (NFX)
Northern Trust Corp reduced its stake in shares of Newfield Exploration Company (NYSE:NFX) by 2.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,240,781 shares of the energy company’s stock after selling 50,749 shares during the period. Northern Trust Corp owned 1.12% of Newfield Exploration worth $63,772,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Pacer Advisors Inc. lifted its position 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 worth $116,000 after buying an additional 319 shares during the last quarter. Global X Management Co. LLC boosted its stake in shares of Newfield Exploration by 30.5% during the 1st 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 bought a new stake in shares of Newfield Exploration during the 2nd quarter worth about $131,000. Ameritas Investment Partners Inc. bought a new stake in shares of Newfield Exploration during the 1st quarter worth about $175,000. Finally, Riverhead Capital Management LLC boosted its stake in shares of Newfield Exploration by 17.1% during the 2nd 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 own 99.15% of the company’s stock.
NFX has been the topic of a number of analyst reports. Citigroup Inc. lowered their price objective on Newfield Exploration from $50.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Royal Bank Of Canada restated a “buy” rating and issued a $42.00 target price on shares of Newfield Exploration in a report on Thursday, July 20th. Cowen and Company set a $35.00 target price on Newfield Exploration and gave the stock a “buy” rating in a report on Tuesday, July 18th. Jefferies Group LLC restated a “buy” rating and issued a $46.00 target price on shares of Newfield Exploration in a report on Thursday, July 6th. Finally, Scotiabank reaffirmed a “buy” rating and set a $39.00 target price on shares of Newfield Exploration in a research report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $41.44.
Shares of Newfield Exploration Company (NYSE:NFX) opened at 30.37 on Wednesday. The stock’s 50 day moving average is $26.84 and its 200 day moving average is $30.25. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 19.70 and a beta of 1.53. Newfield Exploration Company has a 12 month low of $24.41 and a 12 month high of $50.00.
Newfield Exploration (NYSE:NFX) last released its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share 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 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 for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 earnings per share. Equities research analysts forecast that Newfield Exploration Company will post $1.87 earnings per share for the current fiscal year.
In other news, Director Roger B. Plank bought 3,000 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was 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 of the company’s stock, valued at $799,846.26. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Lee K. Boothby sold 12,000 shares of Newfield Exploration stock in a transaction on Friday, September 1st. The stock was sold at an average price of $26.18, for a total value of $314,160.00. Following the sale, the insider now directly owns 279,322 shares of the company’s stock, valued at approximately $7,312,649.96. The disclosure for this sale can be found here. Corporate 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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