Cushing Asset Management LP lowered its stake in shares of Newfield Exploration Co. (NYSE:NFX) by 19.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 203,364 shares of the energy company’s stock after selling 47,989 shares during the quarter. Cushing Asset Management LP owned about 0.10% of Newfield Exploration worth $6,412,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of NFX. Swiss National Bank increased its holdings in Newfield Exploration by 0.4% in the 4th quarter. Swiss National Bank now owns 734,900 shares of the energy company’s stock worth $23,171,000 after buying an additional 2,700 shares during the period. Creative Planning acquired a new position in Newfield Exploration in the 4th quarter worth approximately $1,394,000. US Bancorp DE increased its holdings in Newfield Exploration by 47.0% in the 4th quarter. US Bancorp DE now owns 46,199 shares of the energy company’s stock worth $1,457,000 after buying an additional 14,773 shares during the period. Neuberger Berman Group LLC increased its holdings in Newfield Exploration by 52.7% in the 3rd quarter. Neuberger Berman Group LLC now owns 12,588 shares of the energy company’s stock worth $373,000 after buying an additional 4,345 shares during the period. Finally, Candriam Luxembourg S.C.A. acquired a new position in Newfield Exploration in the 4th quarter worth approximately $2,627,000. Hedge funds and other institutional investors own 99.82% of the company’s stock.
Several research firms have commented on NFX. Jefferies Group set a $34.00 price objective on Newfield Exploration and gave the stock a “buy” rating in a research report on Monday. UBS began coverage on Newfield Exploration in a research report on Wednesday, March 7th. They issued a “buy” rating and a $30.00 price objective on the stock. Morgan Stanley upped their price objective on Newfield Exploration from $33.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. B. Riley set a $36.00 price objective on Newfield Exploration and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $29.00 target price (down previously from $36.00) on shares of Newfield Exploration in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $37.55.
In other news, Director Thomas G. Ricks bought 8,250 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was bought at an average cost of $23.78 per share, for a total transaction of $196,185.00. Following the acquisition, the director now directly owns 66,447 shares of the company’s stock, valued at approximately $1,580,109.66. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lee K. Boothby sold 12,000 shares of Newfield Exploration stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $31.84, for a total value of $382,080.00. Following the completion of the transaction, the chief executive officer now owns 223,235 shares of the company’s stock, valued at approximately $7,107,802.40. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.
Shares of Newfield Exploration stock traded down $0.42 during trading hours on Thursday, hitting $24.38. The company had a trading volume of 1,863,010 shares, compared to its average volume of 3,873,106. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.73. The firm has a market cap of $4,673.50, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 0.58 and a beta of 1.57. Newfield Exploration Co. has a 1 year low of $22.72 and a 1 year high of $37.61.
Newfield Exploration (NYSE:NFX) last issued its quarterly earnings data on Tuesday, February 20th. The energy company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. Newfield Exploration had a return on equity of 35.57% and a net margin of 24.17%. The firm had revenue of $509.00 million during the quarter, compared to the consensus estimate of $497.95 million. During the same period last year, the company earned $0.49 EPS. The company’s quarterly revenue was up 22.7% on a year-over-year basis. sell-side analysts expect that Newfield Exploration Co. will post 3.03 EPS for the current year.
WARNING: This article was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this article on another domain, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://ledgergazette.com/2018/03/22/cushing-asset-management-lp-decreases-stake-in-newfield-exploration-co-nfx.html.
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.
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.