Clearbridge Investments Lowers stake in Newfield Exploration Co. (NFX)

Newfield Exploration Co. (NFX) : Clearbridge Investments reduced its stake in Newfield Exploration Co. by 6.97% during the most recent quarter end. The investment management company now holds a total of 9,356,606 shares of Newfield Exploration Co. which is valued at $438,637,689 after selling 701,486 shares in Newfield Exploration Co. , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Newfield Exploration Co. makes up approximately 0.49% of Clearbridge Investments’s portfolio.

Other Hedge Funds, Including , Ardsley Advisory Partners boosted its stake in NFX in the latest quarter, The investment management firm added 200,000 additional shares and now holds a total of 640,000 shares of Newfield Exploration Co. which is valued at $30,003,200. Newfield Exploration Co. makes up approx 5.48% of Ardsley Advisory Partners’s portfolio.State Of Wisconsin Investment Board boosted its stake in NFX in the latest quarter, The investment management firm added 114,640 additional shares and now holds a total of 816,975 shares of Newfield Exploration Co. which is valued at $38,299,788. Newfield Exploration Co. makes up approx 0.15% of State Of Wisconsin Investment Board’s portfolio.Credit Agricole S A boosted its stake in NFX in the latest quarter, The investment management firm added 48,132 additional shares and now holds a total of 88,979 shares of Newfield Exploration Co. which is valued at $4,171,336. Newfield Exploration Co. makes up approx 0.02% of Credit Agricole S A’s portfolio.Utah Retirement Systems boosted its stake in NFX in the latest quarter, The investment management firm added 2,000 additional shares and now holds a total of 36,216 shares of Newfield Exploration Co. which is valued at $1,617,407. Newfield Exploration Co. makes up approx 0.04% of Utah Retirement Systems’s portfolio.

Newfield Exploration Co. opened for trading at $45.15 and hit $45.28 on the upside on Wednesday, eventually ending the session at $44.91, with a gain of 0.04% or 0.02 points. The heightened volatility saw the trading volume jump to 2,065,868 shares. Company has a market cap of $8,919 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.. Williams Capital Group Initiated Newfield Exploration Co. on Aug 29, 2016 to “Buy”, Price Target of the shares are set at $58.Newfield Exploration Co. was Downgraded by KLR Group to ” Hold” on Aug 5, 2016. 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 .

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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