BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in Newfield Exploration Co. (NYSE:NFX) by 21.5% in the second quarter, HoldingsChannel.com reports. The firm owned 84,982 shares of the energy company’s stock after selling 23,320 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Newfield Exploration were worth $2,571,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Newfield Exploration by 4.1% during the 2nd quarter. BlackRock Inc. now owns 14,646,888 shares of the energy company’s stock worth $443,068,000 after purchasing an additional 571,447 shares in the last quarter. Standard Life Aberdeen plc increased its stake in shares of Newfield Exploration by 169.5% during the 2nd quarter. Standard Life Aberdeen plc now owns 183,320 shares of the energy company’s stock worth $5,546,000 after purchasing an additional 115,295 shares in the last quarter. Carillon Tower Advisers Inc. increased its stake in shares of Newfield Exploration by 167.8% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 1,736,992 shares of the energy company’s stock worth $52,544,000 after purchasing an additional 1,088,350 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in shares of Newfield Exploration by 29.8% during the 2nd quarter. Mutual of America Capital Management LLC now owns 46,930 shares of the energy company’s stock worth $1,420,000 after purchasing an additional 10,786 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Newfield Exploration by 3.0% during the 2nd quarter. Swiss National Bank now owns 660,400 shares of the energy company’s stock worth $19,977,000 after purchasing an additional 19,100 shares in the last quarter. Hedge funds and other institutional investors own 99.40% of the company’s stock.

A number of research analysts have recently weighed in on NFX shares. Jefferies Financial Group reissued a “buy” rating and set a $37.00 price objective on shares of Newfield Exploration in a research note on Wednesday, July 18th. B. Riley raised their price objective on shares of Newfield Exploration from $36.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, June 11th. Seaport Global Securities raised shares of Newfield Exploration from a “neutral” rating to a “buy” rating in a research note on Friday, June 1st. Williams Capital reissued a “buy” rating and set a $44.00 price objective on shares of Newfield Exploration in a research note on Wednesday, May 23rd. Finally, Zacks Investment Research raised shares of Newfield Exploration from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Monday, July 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $37.50.

NFX stock opened at $26.38 on Friday. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 0.63 and a beta of 1.44. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.72 and a quick ratio of 0.70. Newfield Exploration Co. has a one year low of $22.72 and a one year high of $35.20.

Newfield Exploration (NYSE:NFX) last released its earnings results on Tuesday, July 31st. The energy company reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.12. The firm had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $619.07 million. Newfield Exploration had a net margin of 17.53% and a return on equity of 41.07%. Newfield Exploration’s revenue for the quarter was up 68.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.43 EPS. sell-side analysts expect that Newfield Exploration Co. will post 3.41 EPS for the current year.

Newfield Exploration Company Profile

Newfield Exploration Company, an independent energy company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company has operations principally in the Anadarko and Arkoma basins of Oklahoma, the Williston Basin of North Dakota, and the Uinta Basin of Utah.

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

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