OppenheimerFunds Inc. reduced its position in Newfield Exploration Company (NYSE:NFX) by 66.2% during the first quarter, Holdings Channel reports. The institutional investor owned 357,904 shares of the energy company’s stock after selling 701,369 shares during the period. OppenheimerFunds Inc.’s holdings in Newfield Exploration Company were worth $13,210,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. raised its position in Newfield Exploration Company by 3.3% in the first quarter. Pacer Advisors Inc. now owns 3,740 shares of the energy company’s stock worth $138,000 after buying an additional 121 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in Newfield Exploration Company during the first quarter worth approximately $175,000. Mn Services Vermogensbeheer B.V. raised its position in Newfield Exploration Company by 6.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,316 shares of the energy company’s stock worth $183,000 after buying an additional 310 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Newfield Exploration Company during the first quarter worth approximately $208,000. Finally, Daiwa Securities Group Inc. raised its position in Newfield Exploration Company by 14.0% in the first 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 in the last quarter. 99.04% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Newfield Exploration Company (NYSE:NFX)

Newfield Exploration Company (NYSE:NFX) traded down 3.32% during trading on Tuesday, reaching $28.27. The company’s stock had a trading volume of 722,449 shares. Newfield Exploration Company has a 12 month low of $28.27 and a 12 month high of $50.00. The company’s market cap is $5.57 billion. The stock’s 50 day moving average is $32.63 and its 200 day moving average is $37.72.

Newfield Exploration Company (NYSE:NFX) last issued its earnings results on Tuesday, May 2nd. The energy company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.12. Newfield Exploration Company had a negative net margin of 28.60% and a positive return on equity of 33.87%. The business had revenue of $417 million for the quarter, compared to analysts’ expectations of $425.44 million. On average, equities analysts expect that Newfield Exploration Company will post $2.35 EPS for the current fiscal year.

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A number of equities analysts have commented on the company. BMO Capital Markets reduced their price objective on Newfield Exploration Company from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, February 27th. Barclays PLC restated an “equal weight” rating and set a $33.00 target price (down previously from $39.00) on shares of Newfield Exploration Company in a research report on Saturday, April 22nd. J P Morgan Chase & Co restated an “overweight” rating and set a $42.00 target price (down previously from $48.00) on shares of Newfield Exploration Company in a research report on Monday, June 5th. Deutsche Bank AG boosted their target price on Newfield Exploration Company from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, March 7th. Finally, Royal Bank Of Canada set a $54.00 target price on Newfield Exploration Company and gave the stock a “buy” rating in a research report on Saturday, June 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-five have given a buy rating to the company’s stock. Newfield Exploration Company presently has a consensus rating of “Buy” and a consensus target price of $48.56.

In other news, insider Lee K. Boothby sold 9,000 shares of the company’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $36.88, for a total value of $331,920.00. Following the transaction, the insider now owns 263,817 shares of the company’s stock, valued at $9,729,570.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.54% of the company’s stock.

Newfield Exploration Company 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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