Insider Selling: Newfield Exploration Company (NFX) CEO Sells $380,400.00 in Stock
Newfield Exploration Company (NYSE:NFX) CEO Lee K. Boothby sold 12,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $31.70, for a total transaction of $380,400.00. Following the sale, the chief executive officer now directly owns 255,322 shares in the company, valued at approximately $8,093,707.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of Newfield Exploration Company (NFX) opened at $30.66 on Monday. The company has a market cap of $6,120.31, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 1.30 and a beta of 1.47. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 1.87.
Newfield Exploration (NYSE:NFX) last announced its earnings results on Tuesday, October 31st. The energy company reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.09. Newfield Exploration had a net margin of 20.62% and a return on equity of 35.28%. The business had revenue of $439.00 million for the quarter, compared to the consensus estimate of $419.75 million. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. analysts anticipate that Newfield Exploration Company will post 2.04 earnings per share for the current fiscal year.
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Hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. increased its stake in Newfield Exploration by 8.5% in the 2nd quarter. Pacer Advisors Inc. now owns 4,059 shares of the energy company’s stock worth $116,000 after buying an additional 319 shares during the period. Dupont Capital Management Corp purchased a new position in Newfield Exploration in the 2nd quarter worth about $131,000. Riverhead Capital Management LLC increased its stake in Newfield Exploration by 17.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,922 shares of the energy company’s stock worth $197,000 after buying an additional 1,013 shares during the period. Thrivent Financial For Lutherans increased its stake in Newfield Exploration by 5.5% in the 1st quarter. Thrivent Financial For Lutherans now owns 7,300 shares of the energy company’s stock worth $269,000 after buying an additional 380 shares during the period. Finally, Neuberger Berman Group LLC grew its holdings in Newfield Exploration by 43.0% during the 2nd quarter. Neuberger Berman Group LLC now owns 8,243 shares of the energy company’s stock worth $235,000 after acquiring an additional 2,480 shares in the last quarter. 98.76% of the stock is currently owned by institutional investors.
Several brokerages have issued reports on NFX. BidaskClub raised shares of Newfield Exploration from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Barclays PLC lifted their target price on shares of Newfield Exploration from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday. Williams Capital set a $46.00 target price on shares of Newfield Exploration and gave the stock a “buy” rating in a report on Wednesday, November 1st. Scotiabank reaffirmed a “buy” rating and issued a $38.00 target price on shares of Newfield Exploration in a report on Wednesday, November 1st. Finally, SunTrust Banks, Inc. set a $37.00 target price on shares of Newfield Exploration and gave the stock a “buy” rating in a report on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $39.35.
About Newfield Exploration
Newfield Exploration Company is an independent exploration and production company. It is engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. Its operating segments are the United States and China. Its the United States operations are onshore and focus primarily on large scale, liquids resource plays.
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