Independent Portfolio Consultants Lowers stake in Newfield Exploration Co. (NFX)

Newfield Exploration Co. (NFX) : Independent Portfolio Consultants reduced its stake in Newfield Exploration Co. by 5.49% during the most recent quarter end. The investment management company now holds a total of 38,426 shares of Newfield Exploration Co. which is valued at $1,664,230 after selling 2,230 shares in Newfield Exploration Co. , the firm said in a disclosure report filed with the SEC on Oct 5, 2016.Newfield Exploration Co. makes up approximately 0.52% of Independent Portfolio Consultants’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa boosted its stake in NFX in the latest quarter, The investment management firm added 17,559 additional shares and now holds a total of 48,063 shares of Newfield Exploration Co. which is valued at $2,081,609. Newfield Exploration Co. makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio. Washington Trust Bank added NFX to its portfolio by purchasing 1,503 company shares during the most recent quarter which is valued at $65,095. Newfield Exploration Co. makes up approx 0.02% of Washington Trust Bank’s portfolio.

Newfield Exploration Co. closed down -1.06 points or -2.45% at $42.12 with 23,06,642 shares getting traded on Tuesday. Post opening the session at $43.41, the shares hit an intraday low of $41.73 and an intraday high of $43.46 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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