Westpac Banking Corp reduced its stake in shares of Newfield Exploration Company (NYSE:NFX) by 46.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,276 shares of the energy company’s stock after selling 9,862 shares during the quarter. Westpac Banking Corp’s holdings in Newfield Exploration were worth $321,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of NFX. Nationwide Fund Advisors grew its position in shares of Newfield Exploration by 8.8% during the 1st quarter. Nationwide Fund Advisors now owns 59,026 shares of the energy company’s stock worth $2,179,000 after buying an additional 4,786 shares during the period. Strs Ohio grew its position in shares of Newfield Exploration by 11.4% during the 1st quarter. Strs Ohio now owns 14,919 shares of the energy company’s stock worth $550,000 after buying an additional 1,521 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Newfield Exploration by 141.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 23,400 shares of the energy company’s stock worth $864,000 after buying an additional 13,700 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Newfield Exploration by 14.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 5,700 shares of the energy company’s stock worth $210,000 after buying an additional 700 shares during the period. Finally, Suntrust Banks Inc. acquired a new position in shares of Newfield Exploration during the 1st quarter worth about $423,000. Institutional investors own 99.15% of the company’s stock.
In other news, Director Roger B. Plank acquired 3,000 shares of Newfield Exploration stock in a transaction on Friday, August 11th. The stock was purchased at an average price of $25.98 per share, with a total value of $77,940.00. Following the completion of the purchase, the director now owns 30,787 shares of the company’s stock, valued at approximately $799,846.26. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lee K. Boothby sold 12,000 shares of Newfield Exploration stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $26.18, for a total value of $314,160.00. Following the transaction, the insider now directly owns 279,322 shares in the company, valued at approximately $7,312,649.96. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.
Several equities analysts have recently issued reports on NFX shares. Barclays PLC restated an “equal weight” rating and set a $22.00 target price (down from $23.00) on shares of Newfield Exploration in a research report on Wednesday, August 9th. Williams Capital set a $45.00 target price on Newfield Exploration and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Cowen and Company set a $35.00 target price on Newfield Exploration and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Zacks Investment Research upgraded Newfield Exploration from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Jefferies Group LLC restated a “buy” rating and set a $46.00 target price on shares of Newfield Exploration in a research report on Thursday, July 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $42.05.
Newfield Exploration Company (NYSE NFX) opened at 27.11 on Friday. The firm has a market cap of $5.36 billion, a P/E ratio of 17.58 and a beta of 1.49. The firm’s 50-day moving average price is $26.10 and its 200-day moving average price is $30.86. Newfield Exploration Company has a 52-week low of $24.41 and a 52-week high of $50.00.
Newfield Exploration (NYSE:NFX) last announced its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.01). Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. The firm had revenue of $402.00 million during the quarter, compared to analyst estimates of $413.70 million. During the same period last year, the business posted $0.32 EPS. The company’s revenue was up 5.5% on a year-over-year basis. Equities research analysts expect that Newfield Exploration Company will post $1.87 EPS for the current year.
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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