Guinness Asset Management Ltd buys $11,560,626 stake in Newfield Exploration Co. (NFX)

Newfield Exploration Co. (NFX) : Guinness Asset Management Ltd scooped up 88,600 additional shares in Newfield Exploration Co. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 12, 2016. The investment management firm now holds a total of 329,175 shares of Newfield Exploration Co. which is valued at $11,560,626.Newfield Exploration Co. makes up approximately 3.42% of Guinness Asset Management Ltd’s portfolio.

Newfield Exploration Co. closed down -0.4 points or -1.13% at $35.12 with 23,93,822 shares getting traded on Friday. Post opening the session at $35.33, the shares hit an intraday low of $34.33 and an intraday high of $35.35 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Guinness Atkinson Asset Management Inc reduced its stake in NFX by selling 3,100 shares or 5.8% in the most recent quarter. The Hedge Fund company now holds 50,386 shares of NFX which is valued at $1,769,556. Newfield Exploration Co. makes up approx 1.08% of Guinness Atkinson Asset Management Inc’s portfolio.Dnb Asset Management As reduced its stake in NFX by selling 7,300 shares or 1.14% in the most recent quarter. The Hedge Fund company now holds 631,359 shares of NFX which is valued at $22,173,328. Newfield Exploration Co. makes up approx 0.46% of Dnb Asset Management As’s portfolio.Chevy Chase Trust Holdings boosted its stake in NFX in the latest quarter, The investment management firm added 36,590 additional shares and now holds a total of 167,180 shares of Newfield Exploration Co. which is valued at $5,759,351. Newfield Exploration Co. makes up approx 0.03% of Chevy Chase Trust Holdings’s portfolio.

On the company’s financial health, Newfield Exploration Co. reported $-4.06 EPS for the quarter, missing the analyst consensus estimate by $ -4.08 based on the information available during the earnings call on Feb 24, 2016. Analyst had a consensus of $0.02. The company had revenue of $362.00 million for the quarter, compared to analysts expectations of $411.81 million. The company’s revenue was down -26.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.38 EPS.

Many Wall Street Analysts have commented on Newfield Exploration Co.. Topeka Capital Markets Initiated Newfield Exploration Co. on Mar 23, 2016 to “Buy”, Price Target of the shares are set at $42.Company shares were Reiterated by Stifel on Mar 22, 2016 to “Buy”, Firm has raised the Price Target to $ 40 from a previous price target of $35 .RBC Capital Mkts Resumed Newfield Exploration Co. on Mar 18, 2016 to “Outperform”, Price Target of the shares are set at $42.

Newfield Exploration Company (Newfield) is an independent energy company engaged in the exploration development and production of crude oil natural gas and natural gas liquids. The Company’s principal areas of operation are oil and liquids-rich resource plays in the Mid-Continent Rocky Mountains and onshore Gulf Coast regions of the United States. The Company operates through two segments: the United States and China. Approximately 46% of the Company’s proved reserves are located in Mid-Continent region. The Company’s assets consist of more than 400000 net acres in the Anadarko and Arkoma basins. Approximately 43% of its proved reserves are located in the Rocky Mountains region. The Company has approximately 92000 net acres in the Williston Basin. The Company has approximately 225000 net acres in the Uinta Basin. About 7% of the Company’s proved reserves are located in the onshore Gulf Coast region. Approximately 4% of the Company’s proved reserves are located in China.

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