PNC Financial Services Group Inc. cut its stake in Newfield Exploration Co. (NYSE:NFX) by 21.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,484 shares of the energy company’s stock after selling 2,336 shares during the period. PNC Financial Services Group Inc.’s holdings in Newfield Exploration were worth $204,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in NFX. LSV Asset Management lifted its stake in Newfield Exploration by 1,158.1% during the 1st quarter. LSV Asset Management now owns 790,100 shares of the energy company’s stock valued at $19,294,000 after acquiring an additional 727,300 shares during the period. OppenheimerFunds Inc. lifted its stake in Newfield Exploration by 210.1% during the 4th quarter. OppenheimerFunds Inc. now owns 1,002,611 shares of the energy company’s stock valued at $31,612,000 after acquiring an additional 679,300 shares during the period. Allianz Asset Management GmbH lifted its stake in Newfield Exploration by 580.2% during the 4th quarter. Allianz Asset Management GmbH now owns 738,431 shares of the energy company’s stock valued at $23,283,000 after acquiring an additional 629,872 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new stake in Newfield Exploration during the 4th quarter valued at approximately $18,971,000. Finally, Two Sigma Advisers LP lifted its stake in Newfield Exploration by 33.3% during the 4th quarter. Two Sigma Advisers LP now owns 2,041,087 shares of the energy company’s stock valued at $64,355,000 after acquiring an additional 509,757 shares during the period. Institutional investors own 99.27% of the company’s stock.
NFX has been the subject of several research reports. Stifel Nicolaus set a $45.00 price objective on shares of Newfield Exploration and gave the company a “buy” rating in a research note on Friday, March 2nd. UBS Group initiated coverage on shares of Newfield Exploration in a research note on Wednesday, March 7th. They set a “buy” rating and a $30.00 price objective for the company. Jefferies Financial Group set a $34.00 price objective on shares of Newfield Exploration and gave the company a “buy” rating in a research note on Monday, March 19th. Deutsche Bank initiated coverage on shares of Newfield Exploration in a research note on Wednesday, April 4th. They set a “hold” rating and a $32.00 price objective for the company. Finally, ValuEngine cut shares of Newfield Exploration from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $37.76.
Shares of Newfield Exploration opened at $30.30 on Friday, according to Marketbeat. The firm has a market capitalization of $6.04 billion, a P/E ratio of 14.09, a P/E/G ratio of 0.73 and a beta of 1.48. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 1.62. Newfield Exploration Co. has a one year low of $22.72 and a one year high of $35.20.
Newfield Exploration (NYSE:NFX) last issued its quarterly earnings results on Tuesday, May 1st. The energy company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.74 by $0.08. The company had revenue of $580.00 million during the quarter, compared to analyst estimates of $552.56 million. Newfield Exploration had a net margin of 18.96% and a return on equity of 36.67%. The firm’s revenue was up 39.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 EPS. equities research analysts expect that Newfield Exploration Co. will post 3.3 earnings per share for the current year.
About Newfield Exploration
Newfield Exploration Company, an independent energy company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company has operations principally in the Anadarko and Arkoma basins of Oklahoma, the Williston Basin of North Dakota, and the Uinta Basin of Utah.
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