The Manufacturers Life Insurance Company cut its stake in Noble Energy Inc. (NYSE:NBL) by 5.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 513,147 shares of the oil and gas development company’s stock after selling 30,846 shares during the period. The Manufacturers Life Insurance Company owned 0.11% of Noble Energy worth $14,522,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of NBL. Fifth Third Bancorp boosted its stake in Noble Energy by 5.5% during the first quarter. Fifth Third Bancorp now owns 2,913 shares of the oil and gas development company’s stock valued at $100,000 after buying an additional 153 shares in the last quarter. Harbour Capital Advisors LLC bought a new position in Noble Energy during the first quarter valued at about $136,000. Global X Management Co. LLC boosted its stake in Noble Energy by 30.1% during the first quarter. Global X Management Co. LLC now owns 5,702 shares of the oil and gas development company’s stock valued at $196,000 after buying an additional 1,319 shares in the last quarter. Highbridge Capital Management LLC bought a new position in Noble Energy during the first quarter valued at about $201,000. Finally, IBM Retirement Fund boosted its stake in Noble Energy by 50.1% during the second quarter. IBM Retirement Fund now owns 7,142 shares of the oil and gas development company’s stock valued at $202,000 after buying an additional 2,384 shares in the last quarter. 91.54% of the stock is currently owned by hedge funds and other institutional investors.
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Several brokerages recently weighed in on NBL. Morgan Stanley raised their target price on Noble Energy from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Royal Bank Of Canada set a $37.00 price target on Noble Energy and gave the company a “buy” rating in a research report on Sunday, October 15th. Barclays PLC increased their price target on Noble Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Wednesday, October 11th. BMO Capital Markets set a $33.00 price target on Noble Energy and gave the company a “buy” rating in a research report on Tuesday, October 10th. Finally, Jefferies Group LLC lowered Noble Energy from a “buy” rating to a “hold” rating and set a $29.00 price target for the company. in a research report on Monday, October 9th. Two analysts have rated the stock with a sell rating, five have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $40.76.
Shares of Noble Energy Inc. (NYSE NBL) traded up 4.02% on Friday, hitting $27.95. The company had a trading volume of 5,597,355 shares. The firm’s market capitalization is $13.19 billion. Noble Energy Inc. has a 12-month low of $22.99 and a 12-month high of $42.03. The firm has a 50 day moving average of $27.13 and a 200-day moving average of $28.41.
Noble Energy (NYSE:NBL) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.18. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Noble Energy had a negative net margin of 46.63% and a positive return on equity of 0.86%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.24) earnings per share. On average, equities analysts predict that Noble Energy Inc. will post ($0.14) EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 6th will be issued a $0.10 dividend. The ex-dividend date is Friday, November 3rd. This represents a $0.40 annualized dividend and a dividend yield of 1.43%. Noble Energy’s payout ratio is currently -9.90%.
Noble Energy Company Profile
Noble Energy, Inc is an independent energy company. The Company is engaged in crude oil, natural gas and natural gas and natural gas liquids (NGLs) exploration, development, production and acquisition. The Company’s segments include: United States, including the onshore DJ Basin, Permian Basin, Eagle Ford Shale, Marcellus Shale and offshore deepwater Gulf of Mexico, as well as the consolidated accounts of Noble Midstream Partners LP (Noble Midstream Partners); Eastern Mediterranean, including offshore Israel and Cyprus; West Africa, including offshore Equatorial Guinea, Cameroon and Gabon, and Other International and Corporate, including new ventures, such as offshore the Falkland Islands, Suriname and Newfoundland.
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