RNC Capital Management LLC Has $3.45 Million Stake in Newfield Exploration Company (NFX)
RNC Capital Management LLC lessened its holdings in shares of Newfield Exploration Company (NYSE:NFX) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 121,137 shares of the energy company’s stock after selling 3,970 shares during the quarter. RNC Capital Management LLC owned approximately 0.06% of Newfield Exploration worth $3,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Global X Management Co. LLC boosted its stake in shares of Newfield Exploration by 30.5% during the 1st quarter. Global X Management Co. LLC now owns 3,311 shares of the energy company’s stock worth $122,000 after acquiring an additional 774 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Newfield Exploration by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 3,740 shares of the energy company’s stock worth $138,000 after acquiring an additional 121 shares during the last quarter. Dupont Capital Management Corp purchased a new position in shares of Newfield Exploration during the 2nd quarter worth $131,000. Ameritas Investment Partners Inc. purchased a new position in shares of Newfield Exploration during the 1st quarter worth $175,000. Finally, Riverhead Capital Management LLC boosted its stake in shares of Newfield Exploration by 17.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 6,922 shares of the energy company’s stock worth $197,000 after acquiring an additional 1,013 shares during the last quarter. Institutional investors and hedge funds own 99.15% of the company’s stock.
In related news, Director Roger B. Plank acquired 3,000 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were acquired at an average cost of $25.98 per share, with a total value of $77,940.00. Following the completion of the acquisition, the director now directly owns 30,787 shares in the company, valued at approximately $799,846.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Lee K. Boothby sold 12,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $26.18, for a total transaction of $314,160.00. Following the transaction, the insider now directly owns 279,322 shares in the company, valued at $7,312,649.96. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.
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Several research analysts have recently weighed in on NFX shares. Barclays PLC reiterated an “equal weight” rating and set a $22.00 price target (down previously from $23.00) on shares of Newfield Exploration in a research note on Wednesday, August 9th. Williams Capital set a $45.00 price target on shares of Newfield Exploration and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Cowen and Company set a $35.00 price target on shares of Newfield Exploration and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Jefferies Group LLC reiterated a “buy” rating and set a $39.00 price target on shares of Newfield Exploration in a research note on Thursday. Finally, Zacks Investment Research upgraded shares of Newfield Exploration from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the stock. Newfield Exploration has an average rating of “Buy” and an average price target of $40.62.
Shares of Newfield Exploration Company (NYSE NFX) traded down 0.44% during mid-day trading on Friday, reaching $29.65. 2,606,542 shares of the company’s stock traded hands. The company has a market cap of $5.86 billion, a P/E ratio of 19.23 and a beta of 1.53. The company’s 50 day moving average is $28.08 and its 200 day moving average is $30.05. Newfield Exploration Company has a 12-month low of $24.41 and a 12-month high of $50.00.
Newfield Exploration (NYSE:NFX) last posted its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.01). The company had revenue of $402.00 million for the quarter, compared to analysts’ expectations of $413.70 million. Newfield Exploration had a net margin of 18.82% and a return on equity of 33.17%. The business’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 earned $0.32 earnings per share. On average, analysts predict that Newfield Exploration Company will post $1.90 EPS for the current fiscal year.
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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