E&G Advisors LP Takes Position in Newfield Exploration Co. (NFX)
E&G Advisors LP bought a new position in shares of Newfield Exploration Co. (NYSE:NFX) during the second quarter, Holdings Channel reports. The firm bought 11,400 shares of the energy company’s stock, valued at approximately $504,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of NFX. Ladenburg Thalmann Financial Services Inc. raised its position in Newfield Exploration by 3.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,166 shares of the energy company’s stock worth $105,000 after buying an additional 108 shares during the last quarter. Adell Harriman & Carpenter Inc. raised its position in Newfield Exploration by 4.8% in the first quarter. Adell Harriman & Carpenter Inc. now owns 6,525 shares of the energy company’s stock worth $217,000 after buying an additional 300 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in Newfield Exploration during the second quarter worth $221,000. Acadian Asset Management LLC raised its position in Newfield Exploration by 3,279.3% in the second quarter. Acadian Asset Management LLC now owns 5,069 shares of the energy company’s stock worth $224,000 after buying an additional 4,919 shares during the last quarter. Finally, FDO Partners LLC bought a new position in Newfield Exploration during the first quarter worth $233,000. 99.61% of the stock is owned by institutional investors and hedge funds.
Newfield Exploration Co. (NYSE:NFX) traded up 0.31% during midday trading on Monday, hitting $41.97. The stock had a trading volume of 3,306,951 shares. The company’s 50 day moving average price is $44.60 and its 200-day moving average price is $39.86. The stock’s market cap is $8.26 billion. Newfield Exploration Co. has a 52-week low of $20.84 and a 52-week high of $47.56.
Newfield Exploration (NYSE:NFX) last announced its earnings results on Tuesday, August 2nd. The energy company reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.24. The firm earned $381 million during the quarter, compared to analysts’ expectations of $379.74 million. Newfield Exploration had a positive return on equity of 9.07% and a negative net margin of 226.57%. The company’s quarterly revenue was down 18.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.46 EPS. Analysts forecast that Newfield Exploration Co. will post $0.77 EPS for the current fiscal year.
A number of research firms have weighed in on NFX. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Newfield Exploration in a report on Thursday, May 26th. Cantor Fitzgerald reissued a “buy” rating and set a $44.00 price objective on shares of Newfield Exploration in a report on Wednesday, June 22nd. Wunderlich boosted their price objective on Newfield Exploration from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. KLR Group lowered Newfield Exploration from an “accumulate” rating to a “hold” rating and cut their price objective for the stock from $48.00 to $47.00 in a report on Friday, August 5th. Finally, Zacks Investment Research lowered Newfield Exploration from a “buy” rating to a “hold” rating in a report on Wednesday, August 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $46.67.
In related news, VP Matthew R. Vezza sold 4,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $43.17, for a total transaction of $198,582.00. Following the completion of the sale, the vice president now directly owns 41,306 shares of the company’s stock, valued at approximately $1,783,180.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Pamela J. Gardner sold 10,685 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $46.22, for a total value of $493,860.70. Following the sale, the director now directly owns 43,749 shares of the company’s stock, valued at $2,022,078.78. The disclosure for this sale can be found here. 0.44% of the stock is owned by insiders.
About Newfield Exploration
Newfield Exploration Company is an independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids (NGLs). The Company’s operations are focused primarily on large scale, onshore liquids-rich resource plays in the United States. Its segments are the United States and China.
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