Insider Selling: Newfield Exploration Company (NYSE:NFX) CEO Sells 12,000 Shares of Stock

Newfield Exploration Company (NYSE:NFX) CEO Lee K. Boothby sold 12,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $31.70, for a total transaction of $380,400.00. Following the sale, the chief executive officer now owns 255,322 shares of the company’s stock, valued at $8,093,707.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Newfield Exploration Company (NFX) opened at $29.82 on Wednesday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.15 and a current ratio of 1.17. Newfield Exploration Company has a 1-year low of $24.41 and a 1-year high of $50.00. The firm has a market cap of $6,405.77, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 1.35 and a beta of 1.47.

Newfield Exploration (NYSE:NFX) last released its quarterly earnings data on Tuesday, October 31st. The energy company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.09. The firm had revenue of $439.00 million for the quarter, compared to the consensus estimate of $419.75 million. Newfield Exploration had a net margin of 20.62% and a return on equity of 35.28%. The business’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.45 earnings per share. equities analysts forecast that Newfield Exploration Company will post 2.06 EPS for the current year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of NFX. CIBC Asset Management Inc boosted its position in Newfield Exploration by 0.4% during the second quarter. CIBC Asset Management Inc now owns 17,727 shares of the energy company’s stock worth $505,000 after purchasing an additional 70 shares during the period. Utah Retirement Systems boosted its position in Newfield Exploration by 0.3% during the second quarter. Utah Retirement Systems now owns 36,416 shares of the energy company’s stock worth $1,037,000 after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System boosted its position in Newfield Exploration by 1.6% during the second quarter. Louisiana State Employees Retirement System now owns 12,400 shares of the energy company’s stock worth $353,000 after purchasing an additional 200 shares during the period. State Treasurer State of Michigan boosted its position in shares of Newfield Exploration by 0.3% in the second quarter. State Treasurer State of Michigan now owns 65,512 shares of the energy company’s stock valued at $1,864,000 after acquiring an additional 200 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of Newfield Exploration by 0.4% in the second quarter. Arizona State Retirement System now owns 49,400 shares of the energy company’s stock valued at $1,406,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 98.76% of the company’s stock.

NFX has been the subject of several recent analyst reports. Williams Capital set a $46.00 price target on shares of Newfield Exploration and gave the company a “buy” rating in a research note on Wednesday, November 1st. Barclays PLC raised their price objective on shares of Newfield Exploration from $22.00 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 11th. Morgan Stanley increased their target price on shares of Newfield Exploration from $31.00 to $33.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 18th. Royal Bank Of Canada reiterated a “buy” rating and issued a $39.00 target price on shares of Newfield Exploration in a report on Tuesday, November 7th. Finally, Zacks Investment Research lowered shares of Newfield Exploration from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $38.96.

About Newfield Exploration

Newfield Exploration Company is an independent exploration and production company. It is engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. Its operating segments are the United States and China. Its the United States operations are onshore and focus primarily on large scale, liquids resource plays.

Insider Buying and Selling by Quarter for Newfield Exploration (NYSE:NFX)

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