Newfield Exploration Company (NFX) Stake Boosted by Envestnet Asset Management Inc.
Envestnet Asset Management Inc. raised its stake in Newfield Exploration Company (NYSE:NFX) by 4.2% during the fourth quarter, Holdings Channel reports. The fund owned 134,753 shares of the energy company’s stock after buying an additional 5,383 shares during the period. Envestnet Asset Management Inc. owned 0.07% of Newfield Exploration Company worth $5,457,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Hanlon Investment Management Inc. acquired a new stake in shares of Newfield Exploration Company during the second quarter valued at $5,202,000. TCW Group Inc. increased its stake in shares of Newfield Exploration Company by 7.0% in the fourth quarter. TCW Group Inc. now owns 1,398,867 shares of the energy company’s stock valued at $56,654,000 after buying an additional 91,678 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Newfield Exploration Company during the second quarter valued at $26,948,000. Arizona State Retirement System increased its stake in shares of Newfield Exploration Company by 1.2% in the third quarter. Arizona State Retirement System now owns 48,900 shares of the energy company’s stock valued at $2,125,000 after buying an additional 600 shares during the last quarter. Finally, Perella Weinberg Partners Capital Management LP acquired a new stake in shares of Newfield Exploration Company during the third quarter valued at $1,483,000. Hedge funds and other institutional investors own 96.67% of the company’s stock.
Newfield Exploration Company (NYSE:NFX) traded down 2.39% during midday trading on Thursday, hitting $42.14. The stock had a trading volume of 1,684,660 shares. The stock has a 50 day moving average of $41.62 and a 200 day moving average of $42.80. The stock’s market cap is $8.31 billion. Newfield Exploration Company has a 12 month low of $20.84 and a 12 month high of $50.00.
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NFX has been the topic of several recent analyst reports. Vetr upgraded Newfield Exploration Company from a “buy” rating to a “strong-buy” rating and set a $55.00 price target on the stock in a report on Tuesday, November 1st. Canaccord Genuity set a $50.00 price target on Newfield Exploration Company and gave the stock a “buy” rating in a report on Thursday, January 12th. Citigroup Inc. upgraded Newfield Exploration Company from a “neutral” rating to a “buy” rating in a report on Wednesday, January 4th. Zacks Investment Research downgraded Newfield Exploration Company from a “buy” rating to a “hold” rating in a report on Thursday, January 26th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $46.00 price objective on shares of Newfield Exploration Company in a research note on Wednesday, October 19th. Seven analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $48.93.
In related news, insider Lee K. Boothby sold 30,000 shares of the business’s stock in a transaction on Wednesday, December 28th. The shares were sold at an average price of $41.72, for a total transaction of $1,251,600.00. Following the completion of the transaction, the insider now owns 260,162 shares in the company, valued at $10,853,958.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.44% of the company’s stock.
Newfield Exploration Company Company Profile
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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