Newfield Exploration Company (NFX) Position Increased by SG Americas Securities LLC
SG Americas Securities LLC increased its position in shares of Newfield Exploration Company (NYSE:NFX) by 389.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 272,820 shares of the energy company’s stock after buying an additional 217,097 shares during the period. SG Americas Securities LLC’s holdings in Newfield Exploration were worth $7,764,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Newfield Exploration by 3.5% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 32,700 shares of the energy company’s stock worth $1,208,000 after buying an additional 1,100 shares in the last quarter. Suntrust Banks Inc. bought a new stake in shares of Newfield Exploration during the first quarter worth $423,000. Cipher Capital LP increased its stake in shares of Newfield Exploration by 13.8% in the first quarter. Cipher Capital LP now owns 36,718 shares of the energy company’s stock worth $1,355,000 after buying an additional 4,458 shares in the last quarter. ARP Americas LLC bought a new stake in shares of Newfield Exploration during the first quarter worth $214,000. Finally, World Asset Management Inc increased its stake in shares of Newfield Exploration by 13.0% in the first quarter. World Asset Management Inc now owns 20,870 shares of the energy company’s stock worth $770,000 after buying an additional 2,407 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.
Shares of Newfield Exploration Company (NFX) opened at 25.19 on Thursday. The company has a 50-day moving average of $27.06 and a 200 day moving average of $33.03. Newfield Exploration Company has a 12-month low of $25.02 and a 12-month high of $50.00. The company has a market cap of $4.98 billion, a PE ratio of 16.34 and a beta of 1.48.
Newfield Exploration (NYSE:NFX) last issued its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $402 million for the quarter, compared to analysts’ expectations of $413.70 million. Newfield Exploration had a return on equity of 33.17% and a net margin of 18.82%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 earnings per share. On average, equities research analysts expect that Newfield Exploration Company will post $1.91 EPS for the current year.
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NFX has been the topic of a number of recent analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $46.00 target price on shares of Newfield Exploration in a research note on Thursday, July 6th. Credit Suisse Group reiterated an “outperform” rating and set a $47.00 price target on shares of Newfield Exploration in a research report on Friday, June 2nd. Citigroup Inc. reduced their price target on shares of Newfield Exploration from $50.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Zacks Investment Research cut shares of Newfield Exploration from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and set a $36.00 price target (down from $40.00) on shares of Newfield Exploration in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twenty have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $43.21.
In related news, Director Roger B. Plank acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average cost of $25.98 per share, for a total transaction of $77,940.00. Following the purchase, the director now directly owns 30,787 shares of the company’s stock, valued at approximately $799,846.26. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.54% of the company’s stock.
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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