Could Newfield Exploration Co. Change Direction After Today’s Bearish Options Activity?

 Could Newfield Exploration Co. Change Direction After Today's Bearish Options Activity?

In today’s session Newfield Exploration Co. (NFX) recorded an unusually high (490) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious NFX decrease. With 490 contracts traded and 1514 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: NFX161118P00039000 closed last at: $0.9 or 20% up. About 1.79M shares traded hands. Newfield Exploration Co. (NYSE:NFX) has risen 24.28% since March 30, 2016 and is uptrending. It has outperformed by 21.27% the S&P500.

Newfield Exploration Co. (NYSE:NFX) Ratings Coverage

Out of 23 analysts covering Newfield Exploration Co. (NYSE:NFX), 14 rate it a “Buy”, 0 “Sell”, while 9 “Hold”. This means 61% are positive. Newfield Exploration Co. has been the topic of 52 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “Accumulate” rating on Monday, May 16 by KLR Group. The firm has “Outperform” rating given on Thursday, August 6 by RBC Capital Markets. The stock of Newfield Exploration Co. (NYSE:NFX) has “Overweight” rating given on Thursday, March 17 by Barclays Capital. The stock of Newfield Exploration Co. (NYSE:NFX) earned “Market Perform” rating by Cowen & Co on Tuesday, July 21. The stock of Newfield Exploration Co. (NYSE:NFX) earned “Outperform” rating by Wells Fargo on Monday, January 11. The firm has “Neutral” rating by Citigroup given on Tuesday, August 9. The stock of Newfield Exploration Co. (NYSE:NFX) earned “Buy” rating by Topeka Capital Markets on Wednesday, March 23. Williams Capital Group initiated the stock with “Buy” rating in Monday, August 29 report. On Thursday, November 19 the stock rating was downgraded by Goldman Sachs to “Neutral”. The firm earned “Hold” rating on Friday, October 14 by Evercore.

According to Zacks Investment Research, “Newfield Exploration Company explores, develops and acquires oil and natural gas properties primarily in the Gulf of Mexico. The company plans to continue to expand its reserve base and increase cash flow through the exploration and development of existing properties and the acquisition of proved properties with drilling upside. The company emphasizes: reserve growth through exploratory drilling, balance between exploration and the acquisition and exploitation of proved properties, strong geographic focus, control of operations/low cost structure, and use of 3-D seismic.”

Insitutional Activity: The institutional sentiment increased to 1.54 in 2016 Q2. Its up 0.03, from 1.51 in 2016Q1. The ratio improved, as 37 funds sold all Newfield Exploration Co. shares owned while 114 reduced positions. 82 funds bought stakes while 151 increased positions. They now own 197.02 million shares or 0.26% less from 197.54 million shares in 2016Q1.
Lucas accumulated 1.89% or 60,500 shares. B & T Cap Mngmt Dba Alpha Cap Mngmt last reported 1.28% of its portfolio in the stock. Independent Port Consultants Inc accumulated 0.57% or 40,656 shares. New Mexico Educational Retirement Board accumulated 0.05% or 22,927 shares. Deere & owns 7,582 shares or 0.02% of their US portfolio. State Of Wisconsin Inv Board, a Wisconsin-based fund reported 816,975 shares. Nuveen Asset Lc accumulated 0.03% or 102,721 shares. Cupps Mgmt Ltd Com owns 620 shares or 0.01% of their US portfolio. Ing Groep Nv holds 0% of its portfolio in Newfield Exploration Co. (NYSE:NFX) for 4,964 shares. Perkins Inv Mgmt Ltd Liability Corp holds 0.82% or 1.23M shares in its portfolio. The Massachusetts-based State Street Corporation has invested 0.05% in Newfield Exploration Co. (NYSE:NFX). The Ontario – Canada-based Td Asset Mngmt has invested 0.01% in Newfield Exploration Co. (NYSE:NFX). Ladenburg Thalmann Financial Inc holds 3,208 shares or 0% of its portfolio. Employees Retirement Of Texas last reported 331,900 shares in the company. Dnb Asset Mngmt As reported 578,822 shares or 0% of all its holdings.

Insider Transactions: Since May 6, 2016, the stock had 1 buy, and 7 selling transactions for $5.21 million net activity. $39,219 worth of shares were bought by PLANK ROGER B on Wednesday, May 18. On Friday, May 6 the insider Campbell Stephen C sold $963,618. Boothby Lee K had sold 50,000 shares worth $2.05 million. Another trade for 8,200 shares valued at $328,329 was sold by Fairchild George W Jr. Another trade for 10,685 shares valued at $493,820 was made by Gardner Pamela J on Wednesday, August 17. Another trade for 7,500 shares valued at $303,432 was sold by Packer Gary D. Romans Juanita F also sold $92,771 worth of Newfield Exploration Co. (NYSE:NFX) shares.

Newfield Exploration Company is an independent energy firm engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids . The company has a market cap of $7.90 billion. The Company’s activities are focused primarily on large scale, onshore liquids-rich resource plays in the United States. It currently has negative earnings. The Company’s divisions are the United States and China.

NFX Company Profile

Newfield Exploration Company (Newfield), incorporated on December 5, 1988, is an independent energy firm engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids (NGLs). The Company’s activities are focused primarily on large scale, onshore liquids-rich resource plays in the United States. The Company’s divisions are the United States and China. The Company’s principal areas of operation are the Anadarko and Arkoma Basins of Oklahoma, the Williston Basin of North Dakota, the Uinta Basin of Utah and the Maverick, and Gulf Coast basins of Texas. In addition, it has oil developments offshore China. The Company’s proved reserves of approximately 510 million barrels of oil equivalents (MMBOE) consist of over 310 MMBOE proved developed producing, over 20 MMBOE proved developed non-producing and over 180 MMBOE proved undeveloped reserves. The Company’s proved liquids reserves are approximately 290 million barrels. Over 71% of its proved liquid reserves are crude oil or condensate. The Company’s proved natural gas reserves are approximately 1,305 billion cubic feet (Bcf). The Firm owns mineral interests in over 454,000 gross and 113,000 net acres.

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