Newfield Exploration Co. (NFX) : Independent Portfolio Consultants reduced its stake in Newfield Exploration Co. by 25.87% during the most recent quarter end. The investment management company now holds a total of 40,656 shares of Newfield Exploration Co. which is valued at $1,811,631 after selling 14,190 shares in Newfield Exploration Co. , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.Newfield Exploration Co. makes up approximately 0.55% of Independent Portfolio Consultants’s portfolio.
Other Hedge Funds, Including , Nisa Investment Advisors boosted its stake in NFX in the latest quarter, The investment management firm added 14,615 additional shares and now holds a total of 77,915 shares of Newfield Exploration Co. which is valued at $3,471,892. Newfield Exploration Co. makes up approx 0.05% of Nisa Investment Advisors’s portfolio.Cutler Group Lp reduced its stake in NFX by selling 63,540 shares or 87.49% in the most recent quarter. The Hedge Fund company now holds 9,089 shares of NFX which is valued at $405,642. Newfield Exploration Co. makes up approx 0.03% of Cutler Group Lp’s portfolio.Dnb Asset Management As reduced its stake in NFX by selling 52,537 shares or 8.32% in the most recent quarter. The Hedge Fund company now holds 578,822 shares of NFX which is valued at $25,363,980. Newfield Exploration Co. makes up approx 0.53% of Dnb Asset Management As’s portfolio. British Columbia Investment Management Corp added NFX to its portfolio by purchasing 109,813 company shares during the most recent quarter which is valued at $4,812,006. Newfield Exploration Co. makes up approx 0.04% of British Columbia Investment Management Corp’s portfolio.
Newfield Exploration Co. opened for trading at $44.49 and hit $44.61 on the upside on Monday, eventually ending the session at $44.56, with a gain of 0.09% or 0.04 points. The heightened volatility saw the trading volume jump to 17,52,656 shares. Company has a market cap of $8,845 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.. 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 .Company shares were Reiterated by Imperial Capital on Jun 30, 2016 to “In-line”, Firm has raised the Price Target to $ 53 from a previous price target of $42 .
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 Companys 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 Companys proved reserves are located in Mid-Continent region. The Companys 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 Companys proved reserves are located in the onshore Gulf Coast region. Approximately 4% of the Companys proved reserves are located in China.