Guinness Atkinson Asset Management Inc Lowers stake in Newfield Exploration Co. (NFX)

Newfield Exploration Co. (NFX) : Guinness Atkinson Asset Management Inc reduced its stake in Newfield Exploration Co. by 19.85% during the most recent quarter end. The investment management company now holds a total of 40,386 shares of Newfield Exploration Co. which is valued at $1,699,039 after selling 10,000 shares in Newfield Exploration Co. , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.Newfield Exploration Co. makes up approximately 1.02% of Guinness Atkinson Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Rnc Capital Management reduced its stake in NFX by selling 900 shares or 0.67% in the most recent quarter. The Hedge Fund company now holds 134,220 shares of NFX which is valued at $5,646,635. Newfield Exploration Co. makes up approx 0.51% of Rnc Capital Management’s portfolio.Miller Howard Investments Inc Ny reduced its stake in NFX by selling 2,182 shares or 9.51% in the most recent quarter. The Hedge Fund company now holds 20,760 shares of NFX which is valued at $922,367. Newfield Exploration Co. makes up approx 0.02% of Miller Howard Investments Inc Ny’s portfolio.Parkwood reduced its stake in NFX by selling 3,957 shares or 41.75% in the most recent quarter. The Hedge Fund company now holds 5,521 shares of NFX which is valued at $245,298. Newfield Exploration Co. makes up approx 0.04% of Parkwood’s portfolio.Acadian Asset Management boosted its stake in NFX in the latest quarter, The investment management firm added 4,919 additional shares and now holds a total of 5,069 shares of Newfield Exploration Co. which is valued at $225,165.Exxonmobil Investment Management Inc Tx boosted its stake in NFX in the latest quarter, The investment management firm added 2,676 additional shares and now holds a total of 50,917 shares of Newfield Exploration Co. which is valued at $2,231,183. Newfield Exploration Co. makes up approx 0.05% of Exxonmobil Investment Management Inc Tx’s portfolio.

Newfield Exploration Co. opened for trading at $41.89 and hit $43.365 on the upside on Friday, eventually ending the session at $43.3, with a gain of 2.17% or 0.92 points. The heightened volatility saw the trading volume jump to 21,36,394 shares. Company has a market cap of $8,594 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 Initiated by Johnson Rice to “Buy” on Jul 28, 2016. Company shares were Reiterated by RBC Capital Mkts on Jul 11, 2016 to “Outperform”, Firm has raised the Price Target to $ 48 from a previous price target of $45 .Company shares were Resumed by Piper Jaffray on Jul 6, 2016 to “Overweight”, Firm has raised the Price Target to $ 54 from a previous price target of $50 .

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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