Deutsche Bank AG Lowers Stake in Newfield Exploration Co. (NFX)
Deutsche Bank AG cut its holdings in Newfield Exploration Co. (NYSE:NFX) by 10.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,996,744 shares of the energy company’s stock after selling 232,054 shares during the quarter. Deutsche Bank AG’s holdings in Newfield Exploration were worth $62,955,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in NFX. Janus Henderson Group PLC grew its position in shares of Newfield Exploration by 3,994.5% in the third quarter. Janus Henderson Group PLC now owns 1,899,262 shares of the energy company’s stock valued at $56,351,000 after purchasing an additional 1,852,876 shares during the last quarter. Prudential Financial Inc. grew its position in shares of Newfield Exploration by 26.9% in the third quarter. Prudential Financial Inc. now owns 4,114,290 shares of the energy company’s stock valued at $122,071,000 after purchasing an additional 872,434 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of Newfield Exploration by 70.3% during the third quarter. Schroder Investment Management Group now owns 2,105,206 shares of the energy company’s stock valued at $62,209,000 after buying an additional 869,092 shares during the period. OppenheimerFunds Inc. lifted its stake in shares of Newfield Exploration by 210.1% during the fourth quarter. OppenheimerFunds Inc. now owns 1,002,611 shares of the energy company’s stock valued at $31,612,000 after buying an additional 679,300 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Newfield Exploration by 110.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,278,674 shares of the energy company’s stock valued at $37,938,000 after buying an additional 671,123 shares during the period. Institutional investors and hedge funds own 99.82% of the company’s stock.
In other Newfield Exploration news, insider Lee K. Boothby sold 12,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $31.75, for a total transaction of $381,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas G. Ricks bought 8,250 shares of the business’s stock in a transaction dated Thursday, March 1st. The stock was acquired at an average cost of $23.78 per share, for a total transaction of $196,185.00. Following the purchase, the director now owns 66,447 shares in the company, valued at approximately $1,580,109.66. The disclosure for this purchase can be found here. Company insiders own 0.54% of the company’s stock.
Newfield Exploration (NYSE:NFX) last posted its quarterly earnings results on Tuesday, February 20th. The energy company reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.11. The company had revenue of $509.00 million for the quarter, compared to the consensus estimate of $497.95 million. Newfield Exploration had a net margin of 24.17% and a return on equity of 35.57%. Newfield Exploration’s revenue was up 22.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 earnings per share. equities analysts expect that Newfield Exploration Co. will post 2.94 EPS for the current year.
Several equities analysts recently issued reports on the stock. Jefferies Group set a $35.00 price objective on shares of Newfield Exploration and gave the company a “buy” rating in a research note on Friday, February 23rd. Barclays upped their price objective on shares of Newfield Exploration from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Monday, November 20th. KLR Group downgraded shares of Newfield Exploration from a “buy” rating to a “hold” rating and set a $36.00 price objective on the stock. in a research note on Tuesday, January 23rd. Zacks Investment Research downgraded shares of Newfield Exploration from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, BMO Capital Markets reissued a “market perform” rating and set a $29.00 price objective (down previously from $36.00) on shares of Newfield Exploration in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $37.59.
TRADEMARK VIOLATION NOTICE: “Deutsche Bank AG Lowers Stake in Newfield Exploration Co. (NFX)” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2018/03/14/deutsche-bank-ag-lowers-stake-in-newfield-exploration-co-nfx.html.
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.
Want to see what other hedge funds are holding NFX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newfield Exploration Co. (NYSE:NFX).
Receive News & Ratings for Newfield Exploration Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newfield Exploration and related companies with MarketBeat.com's FREE daily email newsletter.