Newfield Exploration Company (NFX) Position Cut by ING Groep NV
ING Groep NV cut its stake in shares of Newfield Exploration Company (NYSE:NFX) by 49.7% during the second quarter, Holdings Channel reports. The fund owned 10,194 shares of the energy company’s stock after selling 10,080 shares during the period. ING Groep NV’s holdings in Newfield Exploration were worth $290,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Quadrature Capital Ltd purchased a new position in Newfield Exploration during the fourth quarter valued at about $235,000. Macquarie Group Ltd. raised its position 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 position 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 position 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, Fox Run Management L.L.C. purchased a new position in Newfield Exploration during the first quarter valued at about $365,000. Institutional investors and hedge funds own 99.05% of the company’s stock.
Newfield Exploration Company (NYSE:NFX) traded down 0.99% during midday trading on Friday, hitting $26.00. 1,287,196 shares of the stock traded hands. The stock has a market capitalization of $5.14 billion, a P/E ratio of 16.86 and a beta of 1.48. Newfield Exploration Company has a 52 week low of $25.46 and a 52 week high of $50.00. The stock’s 50-day moving average price is $27.28 and its 200-day moving average price is $33.56.
Newfield Exploration (NYSE:NFX) last released its quarterly earnings data 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. Newfield Exploration had a return on equity of 33.17% and a net margin of 18.82%. The business had revenue of $402 million during the quarter, compared to analysts’ expectations of $413.70 million. During the same period last year, the company earned $0.32 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. Equities research analysts expect that Newfield Exploration Company will post $1.91 EPS for the current fiscal year.
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Several equities analysts recently issued reports on NFX shares. Barclays PLC restated an “equal weight” rating and issued a $33.00 target price (down previously from $39.00) on shares of Newfield Exploration in a report on Saturday, April 22nd. Royal Bank Of Canada restated a “buy” rating and issued a $54.00 target price on shares of Newfield Exploration in a report on Tuesday, April 25th. Williams Capital restated a “buy” rating and issued a $56.00 target price on shares of Newfield Exploration in a report on Wednesday, May 3rd. 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. Finally, Scotiabank restated a “buy” rating and issued a $46.00 target price on shares of Newfield Exploration in a report on Thursday, May 4th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Newfield Exploration currently has a consensus rating of “Buy” and a consensus target price of $43.21.
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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