Southport Management L.l.c. Lowers stake in Newfield Exploration Co. (NFX)

Newfield Exploration Co. (NFX) : Southport Management L.l.c. reduced its stake in Newfield Exploration Co. by 27.78% during the most recent quarter end. The investment management company now holds a total of 65,000 shares of Newfield Exploration Co. which is valued at $2.5 Million after selling 25,000 shares in Newfield Exploration Co. , the firm said in a disclosure report filed with the SEC on May 13, 2016.Newfield Exploration Co. makes up approximately 4.15% of Southport Management L.l.c.’s portfolio.

Other Hedge Funds, Including , Ejf Capital sold out all of its stake in NFX during the most recent quarter. The investment firm sold 12,000 shares of NFX which is valued $463,200. Lazard Asset Management added NFX to its portfolio by purchasing 362,195 company shares during the most recent quarter which is valued at $14 Million. Newfield Exploration Co. makes up approx 0.03% of Lazard Asset Management’s portfolio.Engineers Gate Manager Lp reduced its stake in NFX by selling 53,788 shares or 41.6% in the most recent quarter. The Hedge Fund company now holds 75,500 shares of NFX which is valued at $2.9 Million. Newfield Exploration Co. makes up approx 0.23% of Engineers Gate Manager Lp’s portfolio.Waratah Capital Advisors Ltd. reduced its stake in NFX by selling 75,071 shares or 37.02% in the most recent quarter. The Hedge Fund company now holds 127,710 shares of NFX which is valued at $4.8 Million. Newfield Exploration Co. makes up approx 0.93% of Waratah Capital Advisors Ltd.’s portfolio.Capital Fund Management S.a. boosted its stake in NFX in the latest quarter, The investment management firm added 27,153 additional shares and now holds a total of 86,100 shares of Newfield Exploration Co. which is valued at $3.2 Million. Newfield Exploration Co. makes up approx 0.06% of Capital Fund Management S.a.’s portfolio.

Newfield Exploration Co. opened for trading at $41.09 and hit $41.67 on the upside on Wednesday, eventually ending the session at $41.16, with a gain of 0.86% or 0.35 points. The heightened volatility saw the trading volume jump to 29,27,658 shares. Company has a market cap of $8,170 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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