Is Newfield Exploration Co. (NYSE:NFX) an attractive investment now? Hedge funds are taking a pessimistic view. The number of long hedge fund positions were trimmed by 1 in recent months.
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Now, we’re going to take a glance at the key action surrounding Newfield Exploration Co. (NYSE:NFX).
How have hedgies been trading Newfield Exploration Co. (NYSE:NFX)?
In preparation for this year, a total of 22 of the hedge funds we track were long in this stock, a change of -4% from one quarter earlier. With hedge funds’ sentiment swirling, there exists a few key hedge fund managers who were boosting their stakes meaningfully.
Of the funds we track, Balyasny Asset Management, managed by Dmitry Balyasny, holds the largest position in Newfield Exploration Co. (NYSE:NFX). Balyasny Asset Management has a $77 million position in the stock, comprising 2.1% of its 13F portfolio. The second largest stake is held by Arrowstreet Capital, managed by Peter Rathjens, Bruce Clarke and John Campbell, which held a $65 million position; the fund has 0.3% of its 13F portfolio invested in the stock. Some other hedge funds that hold long positions include D. E. Shaw’s D E Shaw, Ken Griffin’s Citadel Investment Group and Bruce Kovner’s Caxton Associates LP.
Since Newfield Exploration Co. (NYSE:NFX) has faced falling interest from the aggregate hedge fund industry, we can see that there is a sect of hedge funds that elected to cut their positions entirely in Q4. Interestingly, Robert Rodriguez and Steven Romick’s First Pacific Advisors LLC dumped the largest investment of all the hedgies we watch, comprising about $72 million in stock.. Robert Bishop’s fund, Impala Asset Management, also cut its stock, about $25 million worth. These transactions are intriguing to say the least, as aggregate hedge fund interest was cut by 1 funds in Q4.
How are insiders trading Newfield Exploration Co. (NYSE:NFX)?
Insider buying is best served when the company in question has seen transactions within the past six months. Over the latest six-month time period, Newfield Exploration Co. (NYSE:NFX) has experienced zero unique insiders purchasing, and 4 insider sales (see the details of insider trades here).
With the returns exhibited by the aforementioned tactics, everyday investors must always pay attention to hedge fund and insider trading activity, and Newfield Exploration Co. (NYSE:NFX) is no exception.
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