Investors Buy Large Volume of Newfield Exploration Call Options (NYSE:NFX)

Newfield Exploration Co. (NYSE:NFX) was the target of unusually large options trading activity on Friday. Traders acquired 4,921 call options on the stock. This is an increase of approximately 1,513% compared to the typical volume of 305 call options.

In related news, CEO Lee K. Boothby sold 12,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $31.70, for a total value of $380,400.00. Following the completion of the sale, the chief executive officer now owns 255,322 shares of the company’s stock, valued at $8,093,707.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Juanita F. Romans sold 3,500 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $30.02, for a total transaction of $105,070.00. Following the completion of the sale, the director now directly owns 39,034 shares of the company’s stock, valued at approximately $1,171,800.68. The disclosure for this sale can be found here. Insiders sold 39,500 shares of company stock valued at $1,243,150 in the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Newfield Exploration by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 23,677,528 shares of the energy company’s stock valued at $673,862,000 after buying an additional 760,793 shares in the last quarter. BlackRock Inc. grew its stake in shares of Newfield Exploration by 0.4% in the 2nd quarter. BlackRock Inc. now owns 13,843,741 shares of the energy company’s stock valued at $393,993,000 after buying an additional 55,230 shares in the last quarter. State Street Corp grew its stake in shares of Newfield Exploration by 5.6% in the 2nd quarter. State Street Corp now owns 12,109,780 shares of the energy company’s stock valued at $344,646,000 after buying an additional 638,807 shares in the last quarter. FMR LLC grew its stake in shares of Newfield Exploration by 9.9% in the 2nd quarter. FMR LLC now owns 10,459,662 shares of the energy company’s stock valued at $297,683,000 after buying an additional 938,740 shares in the last quarter. Finally, Boston Partners grew its stake in shares of Newfield Exploration by 0.9% in the 3rd quarter. Boston Partners now owns 5,627,037 shares of the energy company’s stock valued at $166,954,000 after buying an additional 51,835 shares in the last quarter. 99.71% of the stock is owned by institutional investors and hedge funds.

NFX has been the topic of several research reports. Scotiabank set a $39.00 price target on shares of Newfield Exploration and gave the stock a “buy” rating in a research report on Saturday, November 25th. Jefferies Group reiterated a “buy” rating and issued a $39.00 price target on shares of Newfield Exploration in a research report on Thursday, October 12th. Stifel Nicolaus set a $37.00 price target on shares of Newfield Exploration and gave the stock a “buy” rating in a research report on Thursday, October 5th. Piper Jaffray Companies reiterated a “buy” rating and issued a $48.00 price target on shares of Newfield Exploration in a research report on Tuesday. Finally, Williams Capital set a $46.00 price target on shares of Newfield Exploration and gave the stock a “buy” rating in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the stock. Newfield Exploration currently has an average rating of “Buy” and a consensus price target of $38.59.

Shares of Newfield Exploration (NYSE NFX) traded up $0.57 on Thursday, hitting $34.60. The stock had a trading volume of 2,212,221 shares, compared to its average volume of 2,821,303. The firm has a market cap of $6,910.00, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45. Newfield Exploration has a one year low of $24.41 and a one year high of $43.74. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 1.87.

Newfield Exploration (NYSE:NFX) last issued its earnings results on Tuesday, October 31st. The energy company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. The company had revenue of $439.00 million for the quarter, compared to the consensus estimate of $419.75 million. Newfield Exploration had a return on equity of 35.28% and a net margin of 20.62%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 EPS. equities analysts predict that Newfield Exploration will post 2.14 earnings per share for the current year.

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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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