Todays Report: The Louisiana State Employees Retirement System decreases its position in Newfield Exploration Co. (NFX)

The Louisiana State Employees Retirement System decreases its position in Newfield Exploration Co. (NFX)

Louisiana State Employees Retirement System reduced its stake in shares of Newfield Exploration Co. (NYSE:NFX) by 3.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,900 shares of the energy company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Newfield Exploration were worth $570,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in NFX. Daiwa Securities Group Inc. bought a new stake in shares of Newfield Exploration during the second quarter valued at $221,000. Acadian Asset Management LLC increased its stake in shares of Newfield Exploration by 3,279.3% in the second quarter. Acadian Asset Management LLC now owns 5,069 shares of the energy company’s stock valued at $224,000 after buying an additional 4,919 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Newfield Exploration by 138.0% in the second quarter. Nordea Investment Management AB now owns 6,946 shares of the energy company’s stock valued at $307,000 after buying an additional 4,027 shares during the last quarter. LS Investment Advisors LLC increased its stake in shares of Newfield Exploration by 51.2% in the second quarter. LS Investment Advisors LLC now owns 7,519 shares of the energy company’s stock valued at $332,000 after buying an additional 2,545 shares during the last quarter. Finally, Shell Asset Management Co. bought a new stake in shares of Newfield Exploration during the second quarter valued at $333,000. Hedge funds and other institutional investors own 99.63% of the company’s stock.

Newfield Exploration Co. (NYSE:NFX) traded up 0.68% on Monday, hitting $42.86. The stock had a trading volume of 2,142,850 shares. Newfield Exploration Co. has a 52-week low of $20.84 and a 52-week high of $47.56. The company has a 50 day moving average price of $43.01 and a 200-day moving average price of $41.32. The company’s market cap is $8.43 billion.

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. Newfield Exploration had a positive return on equity of 9.07% and a negative net margin of 226.57%. The business had revenue of $381 million for the quarter, compared to the consensus estimate of $379.74 million. During the same period last year, the business posted $0.46 EPS. The business’s revenue was down 18.8% compared to the same quarter last year. On average, equities research analysts predict that Newfield Exploration Co. will post $0.76 earnings per share for the current year.

Several analysts have weighed in on NFX shares. Cantor Fitzgerald reiterated a “buy” rating and issued a $44.00 price objective on shares of Newfield Exploration in a research report on Wednesday, June 22nd. Canaccord Genuity initiated coverage on Newfield Exploration in a research note on Wednesday, June 29th. They set a “buy” rating and a $48.00 target price on the stock. Stifel Nicolaus boosted their target price on Newfield Exploration from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, June 28th. Barclays PLC reissued a “buy” rating on shares of Newfield Exploration in a research note on Sunday, June 26th. Finally, Nomura reissued a “buy” rating and set a $47.00 target price (up from $43.00) on shares of Newfield Exploration in a research note on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Newfield Exploration currently has an average rating of “Buy” and an average target price of $46.82.

In related news, Director Pamela J. Gardner sold 10,685 shares of the business’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $46.22, for a total transaction of $493,860.70. Following the transaction, the director now directly owns 43,749 shares in the company, valued at approximately $2,022,078.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Juanita F. Romans sold 2,015 shares of the business’s stock in a transaction 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 transaction, the director now owns 36,810 shares in the company, valued at $1,694,732.40. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

Newfield Exploration 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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