Energy Opportunities Capital Management LLC cut its stake in Noble Energy Inc. (NYSE:NBL) by 23.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,982 shares of the oil and gas development company’s stock after selling 15,885 shares during the quarter. Energy Opportunities Capital Management LLC’s holdings in Noble Energy were worth $1,503,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Retirement Systems of Alabama grew its holdings in shares of Noble Energy by 4.8% during the 2nd quarter. Retirement Systems of Alabama now owns 220,701 shares of the oil and gas development company’s stock worth $6,246,000 after purchasing an additional 10,198 shares during the period. Beach Investment Management LLC. purchased a new position in shares of Noble Energy during the 2nd quarter worth $1,453,000. Global X Management Co. LLC grew its holdings in shares of Noble Energy by 22.6% during the 2nd quarter. Global X Management Co. LLC now owns 6,993 shares of the oil and gas development company’s stock worth $198,000 after purchasing an additional 1,291 shares during the period. Trexquant Investment LP purchased a new position in shares of Noble Energy during the 2nd quarter worth $317,000. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Noble Energy by 269.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 428,340 shares of the oil and gas development company’s stock worth $12,122,000 after purchasing an additional 312,500 shares during the period. 94.32% of the stock is owned by institutional investors and hedge funds.
NBL has been the subject of a number of research analyst reports. Stifel Nicolaus set a $41.00 price target on Noble Energy and gave the stock a “buy” rating in a report on Tuesday, November 28th. Cowen set a $40.00 target price on Noble Energy and gave the company a “buy” rating in a report on Sunday, December 10th. Credit Suisse Group assumed coverage on Noble Energy in a report on Monday. They set an “outperform” rating and a $35.00 target price for the company. Piper Jaffray Companies restated a “buy” rating and set a $35.00 target price on shares of Noble Energy in a report on Friday, November 17th. Finally, Imperial Capital assumed coverage on Noble Energy in a report on Thursday, September 28th. They set an “outperform” rating and a $40.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $39.45.
Shares of Noble Energy Inc. (NYSE NBL) traded down $0.23 during midday trading on Friday, hitting $26.46. The stock had a trading volume of 3,775,700 shares, compared to its average volume of 5,131,619. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.75. Noble Energy Inc. has a 1-year low of $22.99 and a 1-year high of $41.47. The firm has a market cap of $12,987.55, a price-to-earnings ratio of 111.21 and a beta of 1.16.
Noble Energy (NYSE:NBL) last issued its earnings results on Monday, October 30th. The oil and gas development company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.11. Noble Energy had a positive return on equity of 1.06% and a negative net margin of 45.85%. The business had revenue of $960.00 million for the quarter, compared to analyst estimates of $961.61 million. During the same quarter last year, the company earned ($0.07) EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. sell-side analysts forecast that Noble Energy Inc. will post -0.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, November 6th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Friday, November 3rd. Noble Energy’s dividend payout ratio (DPR) is -10.03%.
In related news, VP Gary W. Willingham bought 30,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were acquired at an average price of $26.00 per share, with a total value of $780,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas J. Edelman sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $26.99, for a total value of $5,398,000.00. Following the completion of the transaction, the director now directly owns 2,952,878 shares in the company, valued at approximately $79,698,177.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 518,787 shares of company stock worth $14,283,745. 2.28% of the stock is currently owned by corporate insiders.
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About Noble Energy
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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