Encompass Capital Advisors Lowers stake in Newfield Exploration Co. (NFX)

Newfield Exploration Co. (NFX) : Encompass Capital Advisors reduced its stake in Newfield Exploration Co. by 52.28% during the most recent quarter end. The investment management company now holds a total of 600,000 shares of Newfield Exploration Co. which is valued at $28,128,000 after selling 657,337 shares in Newfield Exploration Co. , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Newfield Exploration Co. makes up approximately 7.60% of Encompass Capital Advisors’s portfolio.

Other Hedge Funds, Including , Manufacturers Life Insurance Company The boosted its stake in NFX in the latest quarter, The investment management firm added 30,262 additional shares and now holds a total of 184,109 shares of Newfield Exploration Co. which is valued at $8,631,030. Newfield Exploration Co. makes up approx 0.01% of Manufacturers Life Insurance Company The’s portfolio.Pacer Advisors boosted its stake in NFX in the latest quarter, The investment management firm added 17,103 additional shares and now holds a total of 20,155 shares of Newfield Exploration Co. which is valued at $944,866. Newfield Exploration Co. makes up approx 0.14% of Pacer Advisors’s portfolio.Geode Capital Management reduced its stake in NFX by selling 20,276 shares or 1.24% in the most recent quarter. The Hedge Fund company now holds 1,611,309 shares of NFX which is valued at $75,538,166. Newfield Exploration Co. makes up approx 0.04% of Geode Capital Management’s portfolio.Texas Permanent School Fund boosted its stake in NFX in the latest quarter, The investment management firm added 730 additional shares and now holds a total of 63,819 shares of Newfield Exploration Co. which is valued at $2,991,835. Newfield Exploration Co. makes up approx 0.04% of Texas Permanent School Fund’s portfolio.

Newfield Exploration Co. opened for trading at $43.1 and hit $44.14 on the upside on Thursday, eventually ending the session at $44.12, with a gain of 1.75% or 0.76 points. The heightened volatility saw the trading volume jump to 21,91,417 shares. Company has a market cap of $8,762 M.

On the company’s financial health, Newfield Exploration Co. reported $0.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.17. The company had revenue of $381.00 million for the quarter, compared to analysts expectations of $387.42 million. The company’s revenue was down -18.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.46 EPS.

Many Wall Street Analysts have commented on Newfield Exploration Co.. Williams Capital Group Initiated Newfield Exploration Co. on Aug 29, 2016 to “Buy”, Price Target of the shares are set at $58.Newfield Exploration Co. was Downgraded by KLR Group to ” Hold” on Aug 5, 2016. Company shares were Reiterated by Stifel on Aug 4, 2016 to “Buy”, Firm has raised the Price Target to $ 51 from a previous price target of $48 .

Newfield Exploration Company (Newfield) is an independent energy company engaged in the exploration development and production of crude oil natural gas and natural gas liquids. The Company’s principal areas of operation are oil and liquids-rich resource plays in the Mid-Continent Rocky Mountains and onshore Gulf Coast regions of the United States. The Company operates through two segments: the United States and China. Approximately 46% of the Company’s proved reserves are located in Mid-Continent region. The Company’s assets consist of more than 400000 net acres in the Anadarko and Arkoma basins. Approximately 43% of its proved reserves are located in the Rocky Mountains region. The Company has approximately 92000 net acres in the Williston Basin. The Company has approximately 225000 net acres in the Uinta Basin. About 7% of the Company’s proved reserves are located in the onshore Gulf Coast region. Approximately 4% of the Company’s proved reserves are located in China.

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