Guinness Asset Management Ltd Lowers stake in Newfield Exploration Co. (NFX)

Newfield Exploration Co. (NFX) : Guinness Asset Management Ltd reduced its stake in Newfield Exploration Co. by 18.23% during the most recent quarter end. The investment management company now holds a total of 269,175 shares of Newfield Exploration Co. which is valued at $11,324,192 after selling 60,000 shares in Newfield Exploration Co. , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.Newfield Exploration Co. makes up approximately 3.10% of Guinness Asset Management Ltd’s portfolio.

Other Hedge Funds, Including , E&g Advisors Lp added NFX to its portfolio by purchasing 11,400 company shares during the most recent quarter which is valued at $479,598. Newfield Exploration Co. makes up approx 0.28% of E&g Advisors Lp’s portfolio.Ls Investment Advisors boosted its stake in NFX in the latest quarter, The investment management firm added 2,545 additional shares and now holds a total of 7,519 shares of Newfield Exploration Co. which is valued at $334,069. Newfield Exploration Co. makes up approx 0.02% of Ls Investment Advisors’s portfolio.Hartford Investment Management Co boosted its stake in NFX in the latest quarter, The investment management firm added 2,202 additional shares and now holds a total of 46,334 shares of Newfield Exploration Co. which is valued at $2,058,620. Newfield Exploration Co. makes up approx 0.04% of Hartford Investment Management Co’s portfolio.Creative Planning boosted its stake in NFX in the latest quarter, The investment management firm added 480 additional shares and now holds a total of 981 shares of Newfield Exploration Co. which is valued at $43,782.

Newfield Exploration Co. opened for trading at $41.89 and hit $43.365 on the upside on Friday, eventually ending the session at $43.3, with a gain of 2.17% or 0.92 points. The heightened volatility saw the trading volume jump to 21,36,394 shares. Company has a market cap of $8,594 M.

On the company’s financial health, Newfield Exploration Co. reported $-0.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 3, 2016. Analyst had a consensus of $-0.12. The company had revenue of $284.00 million for the quarter, compared to analysts expectations of $322.04 million. The company’s revenue was down -18.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.02 EPS.

Many Wall Street Analysts have commented on Newfield Exploration Co.. Newfield Exploration Co. was Initiated by Johnson Rice to “Buy” on Jul 28, 2016. Company shares were Reiterated by RBC Capital Mkts on Jul 11, 2016 to “Outperform”, Firm has raised the Price Target to $ 48 from a previous price target of $45 .Company shares were Resumed by Piper Jaffray on Jul 6, 2016 to “Overweight”, Firm has raised the Price Target to $ 54 from a previous price target of $50 .

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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