Brant Point Investment Management LLC Buys 60,000 Shares of Newfield Exploration Company (NFX)
Brant Point Investment Management LLC raised its stake in Newfield Exploration Company (NYSE:NFX) by 55.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 169,000 shares of the energy company’s stock after purchasing an additional 60,000 shares during the quarter. Brant Point Investment Management LLC owned 0.08% of Newfield Exploration worth $4,810,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Nationwide Fund Advisors raised its holdings in shares of Newfield Exploration by 8.8% during the first quarter. Nationwide Fund Advisors now owns 59,026 shares of the energy company’s stock valued at $2,179,000 after acquiring an additional 4,786 shares in the last quarter. Strs Ohio raised its holdings in shares of Newfield Exploration by 11.4% during the first quarter. Strs Ohio now owns 14,919 shares of the energy company’s stock valued at $550,000 after acquiring an additional 1,521 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Newfield Exploration by 141.2% during the first quarter. Canada Pension Plan Investment Board now owns 23,400 shares of the energy company’s stock valued at $864,000 after acquiring an additional 13,700 shares in the last quarter. Suntrust Banks Inc. bought a new position in shares of Newfield Exploration during the first quarter valued at approximately $423,000. Finally, Comerica Bank raised its holdings in shares of Newfield Exploration by 1.1% during the first quarter. Comerica Bank now owns 70,737 shares of the energy company’s stock valued at $2,479,000 after acquiring an additional 743 shares in the last quarter. Hedge funds and other institutional investors own 99.15% of the company’s stock.
Newfield Exploration Company (NYSE NFX) traded up 1.69% during midday trading on Wednesday, hitting $28.27. The stock had a trading volume of 763,580 shares. Newfield Exploration Company has a 52-week low of $24.41 and a 52-week high of $50.00. The company’s 50 day moving average price is $26.05 and its 200-day moving average price is $30.64. The stock has a market cap of $5.59 billion, a PE ratio of 18.33 and a beta of 1.49.
Newfield Exploration (NYSE:NFX) last released its quarterly earnings results on Tuesday, August 1st. The energy company reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.01). The company had revenue of $402.00 million during the quarter, compared to the consensus estimate of $413.70 million. Newfield Exploration had a return on equity of 33.17% and a net margin of 18.82%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 earnings per share. Analysts forecast that Newfield Exploration Company will post $1.87 EPS for the current fiscal year.
A number of equities analysts recently commented on NFX shares. Stifel Nicolaus restated a “buy” rating and set a $48.00 target price on shares of Newfield Exploration in a report on Friday, May 26th. Goldman Sachs Group, Inc. (The) upgraded Newfield Exploration from a “neutral” rating to a “buy” rating and decreased their target price for the company from $52.00 to $45.00 in a report on Tuesday, May 30th. Credit Suisse Group restated an “outperform” rating and set a $47.00 target price on shares of Newfield Exploration in a report on Friday, June 2nd. Royal Bank Of Canada set a $54.00 target price on Newfield Exploration and gave the company a “buy” rating in a report on Saturday, June 3rd. Finally, 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 in a report on Monday, June 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company. Newfield Exploration presently has a consensus rating of “Buy” and an average target price of $41.44.
In other news, insider Lee K. Boothby sold 12,000 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $26.18, for a total value of $314,160.00. Following the completion of the transaction, the insider now directly owns 279,322 shares of the company’s stock, valued at approximately $7,312,649.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Roger B. Plank purchased 3,000 shares of Newfield Exploration stock in a transaction dated Friday, August 11th. The stock was bought at an average cost of $25.98 per share, with a total value of $77,940.00. Following the completion of the transaction, the director now owns 30,787 shares in the company, valued at approximately $799,846.26. The disclosure for this purchase can be found here. Insiders own 0.54% of the company’s stock.
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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