Channing Capital Management buys $18,074,885 stake in Newfield Exploration Co. (NFX)

Newfield Exploration Co. (NFX) : Channing Capital Management scooped up 19,719 additional shares in Newfield Exploration Co. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 404,722 shares of Newfield Exploration Co. which is valued at $18,074,885.Newfield Exploration Co. makes up approximately 0.73% of Channing Capital Management’s portfolio.

Other Hedge Funds, Including , Agf Investments reduced its stake in NFX by selling 1,710,843 shares or 67.48% in the most recent quarter. The Hedge Fund company now holds 824,478 shares of NFX which is valued at $36,821,187. Newfield Exploration Co. makes up approx 0.40% of Agf Investments’s portfolio. Lmr Partners Llp sold out all of its stake in NFX during the most recent quarter. The investment firm sold 66,683 shares of NFX which is valued $2,887,374. Calamos Advisors added NFX to its portfolio by purchasing 508,544 company shares during the most recent quarter which is valued at $21,394,446. Newfield Exploration Co. makes up approx 0.19% of Calamos Advisors’s portfolio.James Investment Research Inc boosted its stake in NFX in the latest quarter, The investment management firm added 307,211 additional shares and now holds a total of 316,711 shares of Newfield Exploration Co. which is valued at $14,112,642. Newfield Exploration Co. makes up approx 0.35% of James Investment Research Inc’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in NFX by selling 103,488 shares or 77.23% in the most recent quarter. The Hedge Fund company now holds 30,504 shares of NFX which is valued at $1,336,685. Newfield Exploration Co. makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.

Newfield Exploration Co. opened for trading at $44.44 and hit $46.62 on the upside on Thursday, eventually ending the session at $45.68, with a gain of 2.28% or 1.02 points. The heightened volatility saw the trading volume jump to 53,44,055 shares. Company has a market cap of $9,067 M.

On the company’s financial health, Newfield Exploration Co. reported $0.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.17. The company had revenue of $381.00 million for the quarter, compared to analysts expectations of $387.42 million. The company’s revenue was down -18.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.46 EPS.

Many Wall Street Analysts have commented on Newfield Exploration Co.. Company shares were Reiterated by Stifel on Aug 4, 2016 to “Buy”, Firm has raised the Price Target to $ 51 from a previous price target of $48 .Company shares were Reiterated by Wunderlich on Aug 4, 2016 to “Buy”, Firm has raised the Price Target to $ 65 from a previous price target of $59 .Newfield Exploration Co. was Initiated by Johnson Rice to “Buy” on Jul 28, 2016.

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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