Sumitomo Mitsui Trust Holdings Inc. decreased its stake in shares of Newfield Exploration Company (NYSE:NFX) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 556,280 shares of the energy company’s stock after selling 6,838 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.28% of Newfield Exploration worth $16,505,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. CIBC Asset Management Inc grew its stake in Newfield Exploration by 0.4% during the second quarter. CIBC Asset Management Inc now owns 17,727 shares of the energy company’s stock worth $505,000 after buying an additional 70 shares during the period. Utah Retirement Systems boosted its stake in shares of Newfield Exploration by 0.3% in the second quarter. Utah Retirement Systems now owns 36,416 shares of the energy company’s stock valued at $1,037,000 after purchasing an additional 100 shares during the period. Arizona State Retirement System boosted its stake in shares of Newfield Exploration by 0.4% in the second quarter. Arizona State Retirement System now owns 49,400 shares of the energy company’s stock valued at $1,406,000 after purchasing an additional 200 shares during the period. State Treasurer State of Michigan boosted its stake in Newfield Exploration by 0.3% during the 2nd quarter. State Treasurer State of Michigan now owns 65,512 shares of the energy company’s stock valued at $1,864,000 after acquiring an additional 200 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Newfield Exploration by 1.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 12,400 shares of the energy company’s stock valued at $353,000 after acquiring an additional 200 shares during the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.
In other Newfield Exploration news, Director Juanita F. Romans sold 3,500 shares of Newfield Exploration stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $30.02, for a total transaction of $105,070.00. Following the sale, the director now owns 39,034 shares in the company, valued at $1,171,800.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lee K. Boothby sold 12,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $31.70, for a total transaction of $380,400.00. Following the completion of the sale, the chief executive officer now owns 255,322 shares in the company, valued at approximately $8,093,707.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,500 shares of company stock worth $1,210,270. 0.54% of the stock is currently owned by corporate insiders.
Newfield Exploration (NYSE:NFX) last issued its quarterly earnings data on Tuesday, October 31st. The energy company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.09. The firm had revenue of $439.00 million for the quarter, compared to analyst estimates of $419.75 million. Newfield Exploration had a net margin of 20.62% and a return on equity of 35.28%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 earnings per share. equities research analysts predict that Newfield Exploration Company will post 2.1 EPS for the current fiscal year.
A number of research firms have commented on NFX. Wolfe Research downgraded shares of Newfield Exploration from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Jefferies Group set a $40.00 target price on shares of Newfield Exploration and gave the stock a “buy” rating in a report on Tuesday, August 29th. Zacks Investment Research raised shares of Newfield Exploration from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Stifel Nicolaus set a $37.00 price objective on shares of Newfield Exploration and gave the stock a “buy” rating in a report on Friday, August 18th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Newfield Exploration in a report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $38.62.
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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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