Trade Report: The North Star Asset Management Inc. decides to keep it stake in Newfield Exploration Co. (NFX) to the level of $3,962,000

The North Star Asset Management Inc. decides to keep it stake in Newfield Exploration Co. (NFX) to the level of $3,962,000

North Star Asset Management Inc. reduced its stake in Newfield Exploration Co. (NYSE:NFX) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 89,680 shares of the energy company’s stock after selling 230 shares during the period. North Star Asset Management Inc.’s holdings in Newfield Exploration were worth $3,962,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Texas Permanent School Fund increased its position in Newfield Exploration by 10.4% in the first quarter. Texas Permanent School Fund now owns 63,089 shares of the energy company’s stock valued at $2,098,000 after buying an additional 5,947 shares during the period. Ngam Advisors L.P. increased its position in Newfield Exploration by 16.4% in the first quarter. Ngam Advisors L.P. now owns 63,604 shares of the energy company’s stock valued at $2,115,000 after buying an additional 8,948 shares during the period. TIAA CREF Investment Management LLC increased its stake in Newfield Exploration by 105.2% in the first quarter. TIAA CREF Investment Management LLC now owns 1,323,087 shares of the energy company’s stock worth $43,993,000 after buying an additional 678,405 shares during the last quarter. Prudential Financial Inc. increased its stake in Newfield Exploration by 16.0% in the first quarter. Prudential Financial Inc. now owns 227,821 shares of the energy company’s stock worth $7,575,000 after buying an additional 31,470 shares during the last quarter. Finally, BlackRock Inc. increased its stake in Newfield Exploration by 12.2% in the first quarter. BlackRock Inc. now owns 522,722 shares of the energy company’s stock worth $17,380,000 after buying an additional 56,909 shares during the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Newfield Exploration Co. (NYSE:NFX) traded down 1.310% during trading on Friday, reaching $42.575. 623,242 shares of the company’s stock were exchanged. The stock’s market capitalization is $8.38 billion. Newfield Exploration Co. has a 52 week low of $20.84 and a 52 week high of $47.56. The stock has a 50-day moving average of $43.09 and a 200-day moving average of $41.05.

Newfield Exploration (NYSE:NFX) last announced its quarterly earnings results on Tuesday, August 2nd. The energy company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.24. The firm earned $381 million during the quarter, compared to the consensus estimate of $379.74 million. Newfield Exploration had a positive return on equity of 9.07% and a negative net margin of 226.57%. The firm’s quarterly revenue was down 18.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 earnings per share. On average, equities research analysts anticipate that Newfield Exploration Co. will post $0.76 EPS for the current year.

A number of research firms recently issued reports on NFX. Citigroup Inc. upped their price target on shares of Newfield Exploration from $42.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, August 9th. Zacks Investment Research downgraded shares of Newfield Exploration from a “buy” rating to a “hold” rating in a research note on Wednesday, August 17th. Imperial Capital reaffirmed an “outperform” rating and set a $53.00 price target on shares of Newfield Exploration in a research note on Friday, September 9th. Barclays PLC downgraded shares of Newfield Exploration from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $35.00 to $44.00 in a research note on Friday, August 5th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $57.00 price target (up previously from $56.00) on shares of Newfield Exploration in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Newfield Exploration presently has an average rating of “Buy” and an average target price of $46.67.

In related news, Director Juanita F. Romans sold 2,015 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $46.04, for a total value of $92,770.60. Following the completion of the transaction, the director now directly owns 36,810 shares of the company’s stock, valued at $1,694,732.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pamela J. Gardner sold 10,685 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $46.22, for a total value of $493,860.70. Following the completion of the transaction, 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 corporate 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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