Virginia Retirement Systems ET AL purchased a new position in shares of Newfield Exploration Co. (NYSE:NFX) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 73,100 shares of the energy company’s stock, valued at approximately $2,107,000.
Several other large investors also recently bought and sold shares of the business. Principal Financial Group Inc. grew its holdings in shares of Newfield Exploration by 5.5% during the first quarter. Principal Financial Group Inc. now owns 308,756 shares of the energy company’s stock worth $7,540,000 after buying an additional 15,965 shares in the last quarter. IFM Investors Pty Ltd purchased a new stake in shares of Newfield Exploration during the second quarter worth about $293,000. Fisher Asset Management LLC purchased a new stake in shares of Newfield Exploration during the second quarter worth about $7,039,000. Scout Investments Inc. grew its holdings in shares of Newfield Exploration by 153.8% during the second quarter. Scout Investments Inc. now owns 2,700,782 shares of the energy company’s stock worth $81,699,000 after buying an additional 1,636,795 shares in the last quarter. Finally, Fox Run Management L.L.C. grew its holdings in shares of Newfield Exploration by 168.8% during the second quarter. Fox Run Management L.L.C. now owns 29,038 shares of the energy company’s stock worth $878,000 after buying an additional 18,235 shares in the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Lee K. Boothby sold 16,161 shares of the business’s stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $29.25, for a total transaction of $472,709.25. Following the transaction, the insider now directly owns 194,420 shares of the company’s stock, valued at $5,686,785. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.59% of the company’s stock.
NFX stock traded down $0.61 during midday trading on Wednesday, reaching $17.23. 6,959,188 shares of the company’s stock traded hands, compared to its average volume of 8,193,591. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 8.01, a price-to-earnings-growth ratio of 0.42 and a beta of 1.66. The company has a quick ratio of 0.70, a current ratio of 0.72 and a debt-to-equity ratio of 1.30. Newfield Exploration Co. has a fifty-two week low of $16.73 and a fifty-two week high of $35.20.
Newfield Exploration (NYSE:NFX) last announced its quarterly earnings results on Wednesday, October 31st. The energy company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.15. The firm had revenue of $711.00 million for the quarter, compared to analysts’ expectations of $661.27 million. Newfield Exploration had a net margin of 21.14% and a return on equity of 43.65%. Newfield Exploration’s revenue was up 62.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 earnings per share. On average, equities analysts forecast that Newfield Exploration Co. will post 3.58 EPS for the current fiscal year.
A number of brokerages have recently commented on NFX. Morgan Stanley lifted their price target on shares of Newfield Exploration from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Wednesday, September 26th. Susquehanna Bancshares reiterated a “neutral” rating on shares of Newfield Exploration in a report on Friday, November 2nd. ValuEngine downgraded shares of Newfield Exploration from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. UBS Group downgraded shares of Newfield Exploration from a “positive” rating to a “neutral” rating in a report on Friday, November 2nd. Finally, Edward Jones downgraded shares of Newfield Exploration to a “hold” rating in a report on Friday, November 2nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.47.
Newfield Exploration Company Profile
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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