Ontario Teachers Pension Plan Board grew its holdings in Noble Energy, Inc. (NYSE:NBL) by 0.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,042,982 shares of the oil and gas development company’s stock after acquiring an additional 14,236 shares during the quarter. Noble Energy comprises 0.7% of Ontario Teachers Pension Plan Board’s investment portfolio, making the stock its 21st biggest holding. Ontario Teachers Pension Plan Board’s holdings in Noble Energy were worth $59,532,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. American International Group Inc. increased its holdings in shares of Noble Energy by 11.4% in the 4th quarter. American International Group Inc. now owns 194,854 shares of the oil and gas development company’s stock valued at $5,678,000 after acquiring an additional 19,897 shares during the last quarter. Virtus Fund Advisers LLC increased its holdings in shares of Noble Energy by 14.8% in the 4th quarter. Virtus Fund Advisers LLC now owns 2,763,500 shares of the oil and gas development company’s stock valued at $80,528,000 after acquiring an additional 356,950 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of Noble Energy by 17.2% in the 4th quarter. UBS Asset Management Americas Inc. now owns 2,773,308 shares of the oil and gas development company’s stock valued at $80,814,000 after acquiring an additional 407,972 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Noble Energy by 16.2% in the 4th quarter. Bank of New York Mellon Corp now owns 4,258,901 shares of the oil and gas development company’s stock valued at $124,105,000 after acquiring an additional 593,180 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Noble Energy by 3.2% in the 4th quarter. Rhumbline Advisers now owns 869,062 shares of the oil and gas development company’s stock valued at $25,324,000 after acquiring an additional 26,822 shares during the last quarter. Institutional investors and hedge funds own 94.47% of the company’s stock.
In related news, VP Gary W. Willingham acquired 30,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was bought at an average cost of $26.00 per share, with a total value of $780,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas J. Edelman sold 200,000 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $26.99, for a total value of $5,398,000.00. Following the sale, the director now directly owns 2,952,878 shares of the company’s stock, valued at $79,698,177.22. The disclosure for this sale can be found here. 2.28% of the stock is currently owned by company insiders.
Shares of Noble Energy, Inc. (NYSE:NBL) opened at $26.28 on Monday. Noble Energy, Inc. has a 1 year low of $22.99 and a 1 year high of $37.82. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $12,788.04, a P/E ratio of 109.50 and a beta of 1.14.
Noble Energy announced that its board has authorized a share repurchase program on Thursday, February 15th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the oil and gas development company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 26th. Shareholders of record on Monday, February 12th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, February 9th. This represents a $0.40 dividend on an annualized basis and a yield of 1.52%. Noble Energy’s payout ratio is -10.03%.
A number of research analysts have recently commented on NBL shares. Jefferies Group set a $38.00 price objective on Noble Energy and gave the company a “buy” rating in a report on Tuesday, January 30th. Barclays decreased their target price on Noble Energy from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, November 16th. Credit Suisse Group set a $40.00 target price on Noble Energy and gave the company a “buy” rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Seaport Global Securities raised Noble Energy from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 19th. Finally, Stifel Nicolaus set a $42.00 target price on Noble Energy and gave the company a “buy” rating in a research report on Monday, December 18th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $37.53.
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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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