World Asset Management Inc lowered its stake in shares of Newfield Exploration Company (NYSE:NFX) by 9.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,945 shares of the energy company’s stock after selling 1,925 shares during the period. World Asset Management Inc’s holdings in Newfield Exploration were worth $539,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new stake in Newfield Exploration during the fourth quarter valued at approximately $235,000. Macquarie Group Ltd. raised its stake in Newfield Exploration by 10.9% in the fourth quarter. Macquarie Group Ltd. now owns 412,371 shares of the energy company’s stock valued at $16,701,000 after buying an additional 40,500 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in Newfield Exploration by 4.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 171,450 shares of the energy company’s stock valued at $6,328,000 after buying an additional 6,628 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in Newfield Exploration by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 60,000 shares of the energy company’s stock valued at $2,214,000 after buying an additional 800 shares during the last quarter. Finally, Verde Servicos Internacionais S.A. raised its stake in Newfield Exploration by 2.8% in the first quarter. Verde Servicos Internacionais S.A. now owns 131,365 shares of the energy company’s stock valued at $4,848,000 after buying an additional 3,638 shares during the last quarter. 99.05% of the stock is currently owned by hedge funds and other institutional investors.

Newfield Exploration Company (NFX) opened at 26.60 on Thursday. Newfield Exploration Company has a 52 week low of $25.46 and a 52 week high of $50.00. The firm has a market cap of $5.26 billion, a P/E ratio of 17.25 and a beta of 1.48. The company’s 50 day moving average is $27.33 and its 200-day moving average is $33.61.

Newfield Exploration (NYSE:NFX) last released its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.01. The firm had revenue of $402 million for the quarter, compared to analyst estimates of $413.70 million. Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. Newfield Exploration’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 earnings per share. Equities analysts expect that Newfield Exploration Company will post $1.91 earnings per share for the current year.

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Several analysts have recently commented on NFX shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $48.00 price target on shares of Newfield Exploration in a research report on Wednesday, April 12th. Barclays PLC reaffirmed an “equal weight” rating and set a $33.00 price target (down previously from $39.00) on shares of Newfield Exploration in a research report on Saturday, April 22nd. Royal Bank Of Canada reiterated a “buy” rating and issued a $54.00 target price on shares of Newfield Exploration in a report on Tuesday, April 25th. Williams Capital reiterated a “buy” rating and issued a $56.00 target price on shares of Newfield Exploration in a report on Wednesday, May 3rd. Finally, BMO Capital Markets set a $40.00 target price on shares of Newfield Exploration and gave the company a “buy” rating in a report on Tuesday, May 2nd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $43.21.

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

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