Picton Mahoney Asset Management buys $31.8 Million stake in Newfield Exploration Co. (NFX)

Newfield Exploration Co. (NFX) : Picton Mahoney Asset Management scooped up 253,501 additional shares in Newfield Exploration Co. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 823,458 shares of Newfield Exploration Co. which is valued at $31.8 Million.Newfield Exploration Co. makes up approximately 2.17% of Picton Mahoney Asset Management’s portfolio.

Other Hedge Funds, Including , Jefferies Group boosted its stake in NFX in the latest quarter, The investment management firm added 5,994 additional shares and now holds a total of 22,183 shares of Newfield Exploration Co. which is valued at $856,264. Newfield Exploration Co. makes up approx 0.03% of Jefferies Group’s portfolio.Blackrock Investment Management boosted its stake in NFX in the latest quarter, The investment management firm added 67,354 additional shares and now holds a total of 621,861 shares of Newfield Exploration Co. which is valued at $24 Million. Newfield Exploration Co. makes up approx 0.03% of Blackrock Investment Management’s portfolio.Advantus Capital Management Inc boosted its stake in NFX in the latest quarter, The investment management firm added 3,660 additional shares and now holds a total of 19,179 shares of Newfield Exploration Co. which is valued at $740,309. Newfield Exploration Co. makes up approx 0.02% of Advantus Capital Management Inc’s portfolio.Intrust Bank Na reduced its stake in NFX by selling 20,584 shares or 30.05% in the most recent quarter. The Hedge Fund company now holds 47,916 shares of NFX which is valued at $1.8 Million. Newfield Exploration Co. makes up approx 0.65% of Intrust Bank Na’s portfolio.Jennison Associates boosted its stake in NFX in the latest quarter, The investment management firm added 1,297,004 additional shares and now holds a total of 2,788,557 shares of Newfield Exploration Co. which is valued at $103.7 Million. Newfield Exploration Co. makes up approx 0.11% of Jennison Associates’s portfolio.

Newfield Exploration Co. opened for trading at $38.96 and hit $39.93 on the upside on Monday, eventually ending the session at $39.2, with a gain of 1.55% or 0.6 points. The heightened volatility saw the trading volume jump to 42,21,968 shares. Company has a market cap of $7,781 M.

On the company’s financial health, Newfield Exploration Co. reported $-0.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 3, 2016. Analyst had a consensus of $-0.12. The company had revenue of $284.00 million for the quarter, compared to analysts expectations of $322.04 million. The company’s revenue was down -18.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.02 EPS.

Many Wall Street Analysts have commented on Newfield Exploration Co.. Newfield Exploration Co. was Downgraded by KLR Group to ” Accumulate” on May 16, 2016. Company shares were Reiterated by Imperial Capital on May 5, 2016 to “Outperform”, Firm has raised the Price Target to $ 42 from a previous price target of $33 .Company shares were Reiterated by Wunderlich on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 44 from a previous price target of $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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