Trellus Management Company LLC held its position in shares of Newfield Exploration Company (NYSE:NFX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,000 shares of the energy company’s stock at the end of the second quarter. Newfield Exploration accounts for about 1.3% of Trellus Management Company LLC’s investment portfolio, making the stock its 20th largest position. Trellus Management Company LLC’s holdings in Newfield Exploration were worth $854,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Quadrature Capital Ltd purchased a new stake in Newfield Exploration during the fourth quarter valued at $235,000. Kentucky Retirement Systems purchased a new stake in Newfield Exploration during the fourth quarter valued at $580,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Newfield Exploration during the fourth quarter worth approximately $259,000. Highbridge Capital Management LLC raised its stake in Newfield Exploration by 839.1% in the fourth quarter. Highbridge Capital Management LLC now owns 72,931 shares of the energy company’s stock worth $2,954,000 after buying an additional 65,165 shares during the last quarter. Finally, Macquarie Group Ltd. raised its stake in Newfield Exploration by 10.9% in the fourth quarter. Macquarie Group Ltd. now owns 412,371 shares of the energy company’s stock worth $16,701,000 after buying an additional 40,500 shares during the last quarter. 98.33% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Newfield Exploration Company (NFX) opened at 25.81 on Tuesday. Newfield Exploration Company has a 52 week low of $25.46 and a 52 week high of $50.00. The firm’s 50-day moving average price is $27.19 and its 200 day moving average price is $33.20. The company has a market cap of $5.10 billion, a P/E ratio of 16.74 and a beta of 1.48.
Newfield Exploration (NYSE:NFX) last announced its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $402 million during the quarter, compared to the consensus estimate of $413.70 million. Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business earned $0.32 earnings per share. On average, equities analysts predict that Newfield Exploration Company will post $1.91 EPS for the current fiscal year.
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NFX has been the topic of a number of analyst reports. KLR Group raised Newfield Exploration from a “hold” rating to a “buy” rating in a research note on Monday, May 15th. Stifel Nicolaus reiterated a “buy” rating and set a $48.00 target price on shares of Newfield Exploration in a research report on Friday, May 26th. Scotiabank set a $47.00 target price on Newfield Exploration and gave the stock a “buy” rating in a research report on Tuesday, May 16th. Jefferies Group LLC reiterated a “buy” rating and set a $46.00 target price on shares of Newfield Exploration in a research report on Wednesday, May 17th. Finally, Piper Jaffray Companies initiated coverage on Newfield Exploration in a report on Monday, May 15th. They issued a “buy” rating and a $55.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $43.21.
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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