Newfield Exploration Co. (NFX) Holdings Lifted by Rafferty Asset Management LLC

Rafferty Asset Management LLC boosted its position in shares of Newfield Exploration Co. (NYSE:NFX) by 72.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,163 shares of the energy company’s stock after buying an additional 8,023 shares during the quarter. Rafferty Asset Management LLC’s holdings in Newfield Exploration were worth $552,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. boosted its stake in shares of Newfield Exploration by 4.1% during the second quarter. BlackRock Inc. now owns 14,646,888 shares of the energy company’s stock valued at $443,068,000 after purchasing an additional 571,447 shares during the period. LSV Asset Management boosted its stake in shares of Newfield Exploration by 10.0% during the third quarter. LSV Asset Management now owns 6,123,641 shares of the energy company’s stock valued at $176,544,000 after purchasing an additional 554,266 shares during the period. Van ECK Associates Corp boosted its stake in shares of Newfield Exploration by 1.8% during the second quarter. Van ECK Associates Corp now owns 3,472,064 shares of the energy company’s stock valued at $105,030,000 after purchasing an additional 62,641 shares during the period. Schroder Investment Management Group boosted its stake in shares of Newfield Exploration by 20.5% during the second quarter. Schroder Investment Management Group now owns 2,601,454 shares of the energy company’s stock valued at $78,824,000 after purchasing an additional 442,324 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Newfield Exploration by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,275,743 shares of the energy company’s stock valued at $68,842,000 after acquiring an additional 53,076 shares in the last quarter. 97.70% of the stock is owned by institutional investors.

In other Newfield Exploration news, insider Lee K. Boothby sold 16,161 shares of the business’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $29.25, for a total value of $472,709.25. Following the completion of the transaction, the insider now directly owns 194,420 shares in the company, valued at $5,686,785. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.59% of the company’s stock.

Shares of Newfield Exploration stock opened at $17.84 on Tuesday. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 0.40 and a beta of 1.67. The company has a quick ratio of 0.70, a current ratio of 0.72 and a debt-to-equity ratio of 1.30. Newfield Exploration Co. has a one year low of $16.73 and a one year high of $35.20.

Newfield Exploration (NYSE:NFX) last announced its earnings results on Wednesday, October 31st. The energy company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.15. The business had revenue of $711.00 million during the quarter, compared to the consensus estimate of $661.27 million. Newfield Exploration had a net margin of 21.14% and a return on equity of 43.65%. The firm’s revenue was up 62.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 earnings per share. On average, sell-side analysts anticipate that Newfield Exploration Co. will post 3.58 EPS for the current year.

NFX has been the subject of several recent research reports. Morgan Stanley lifted their price objective on Newfield Exploration from $32.00 to $33.00 and gave the company a “hold” rating in a report on Wednesday, September 26th. Piper Jaffray Companies initiated coverage on Newfield Exploration in a report on Friday, September 28th. They issued an “overweight” rating for the company. ValuEngine downgraded Newfield Exploration from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. Zacks Investment Research upgraded Newfield Exploration from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Thursday, October 18th. Finally, SunTrust Banks decreased their price objective on Newfield Exploration from $30.00 to $23.00 and set a “hold” rating for the company in a report on Monday, October 29th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $35.47.

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Newfield Exploration Profile

Newfield Exploration Company, an independent energy company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company has operations principally in the Anadarko and Arkoma basins of Oklahoma, the Williston Basin of North Dakota, and the Uinta Basin of Utah.

Further Reading: What are retained earnings?

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Institutional Ownership by Quarter for Newfield Exploration (NYSE:NFX)

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