The Manufacturers Life Insurance Company grew its holdings in shares of Newfield Exploration Co. (NYSE:NFX) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 226,227 shares of the energy company’s stock after buying an additional 6,364 shares during the period. The Manufacturers Life Insurance Company owned 0.11% of Newfield Exploration worth $7,132,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Swiss National Bank lifted its stake in shares of Newfield Exploration by 0.4% in the 4th quarter. Swiss National Bank now owns 734,900 shares of the energy company’s stock valued at $23,171,000 after purchasing an additional 2,700 shares during the last quarter. Creative Planning acquired a new position in Newfield Exploration during the 4th quarter worth $1,394,000. Neuberger Berman Group LLC lifted its position in Newfield Exploration by 52.7% during the 3rd quarter. Neuberger Berman Group LLC now owns 12,588 shares of the energy company’s stock worth $373,000 after acquiring an additional 4,345 shares during the last quarter. US Bancorp DE increased its holdings in shares of Newfield Exploration by 47.0% during the 4th quarter. US Bancorp DE now owns 46,199 shares of the energy company’s stock worth $1,457,000 after purchasing an additional 14,773 shares during the period. Finally, California Public Employees Retirement System increased its holdings in shares of Newfield Exploration by 9.1% during the 3rd quarter. California Public Employees Retirement System now owns 425,649 shares of the energy company’s stock worth $12,629,000 after purchasing an additional 35,549 shares during the period. 99.82% of the stock is currently owned by institutional investors.
In other news, Director Thomas G. Ricks purchased 8,250 shares of the stock in a transaction dated Thursday, March 1st. The shares were purchased at an average cost of $23.78 per share, with a total value of $196,185.00. Following the completion of the acquisition, the director now owns 66,447 shares in the company, valued at approximately $1,580,109.66. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Lee K. Boothby sold 12,000 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $31.84, for a total transaction of $382,080.00. Following the completion of the sale, the chief executive officer now directly owns 223,235 shares in the company, valued at $7,107,802.40. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.
A number of analysts recently weighed in on the stock. Cowen set a $40.00 target price on shares of Newfield Exploration and gave the company a “buy” rating in a research note on Thursday, January 18th. Piper Jaffray Companies restated a “buy” rating and issued a $48.00 price target on shares of Newfield Exploration in a research report on Tuesday, January 9th. Bank of America upgraded shares of Newfield Exploration from a “neutral” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Thursday, January 4th. Jefferies Group set a $40.00 price objective on shares of Newfield Exploration and gave the company a “buy” rating in a report on Wednesday, December 20th. Finally, Scotiabank set a $39.00 target price on shares of Newfield Exploration and gave the company a “buy” rating in a research note on Saturday, November 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $37.59.
Newfield Exploration Co. (NYSE NFX) traded up $0.04 during trading on Wednesday, hitting $23.54. 3,185,820 shares of the company were exchanged, compared to its average volume of 3,794,446. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.73. Newfield Exploration Co. has a 52 week low of $22.72 and a 52 week high of $37.61. The firm has a market cap of $4,653.53, a P/E ratio of 11.05, a PEG ratio of 0.60 and a beta of 1.57.
Newfield Exploration (NYSE:NFX) last announced its quarterly earnings results on Tuesday, February 20th. The energy company reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.11. Newfield Exploration had a net margin of 24.17% and a return on equity of 35.57%. The business had revenue of $509.00 million during the quarter, compared to analyst estimates of $497.95 million. During the same quarter in the previous year, the business posted $0.49 EPS. Newfield Exploration’s quarterly revenue was up 22.7% on a year-over-year basis. analysts anticipate that Newfield Exploration Co. will post 2.94 earnings per share for the current fiscal year.
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Newfield Exploration Company Profile
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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