Teachers Retirement System of The State of Kentucky lessened its holdings in Noble Energy, Inc. (NYSE:NBL) by 8.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 273,828 shares of the oil and gas development company’s stock after selling 26,000 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Noble Energy were worth $7,979,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Shell Asset Management Co. raised its holdings in Noble Energy by 113.7% during the 4th quarter. Shell Asset Management Co. now owns 119,793 shares of the oil and gas development company’s stock worth $3,491,000 after purchasing an additional 63,737 shares during the last quarter. Greenwood Capital Associates LLC raised its holdings in Noble Energy by 49.7% during the 4th quarter. Greenwood Capital Associates LLC now owns 11,341 shares of the oil and gas development company’s stock worth $330,000 after purchasing an additional 3,766 shares during the last quarter. Vident Investment Advisory LLC bought a new position in Noble Energy during the 3rd quarter worth approximately $361,000. Retirement Systems of Alabama raised its holdings in Noble Energy by 7.0% during the 3rd quarter. Retirement Systems of Alabama now owns 236,050 shares of the oil and gas development company’s stock worth $6,694,000 after purchasing an additional 15,349 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in Noble Energy during the 3rd quarter worth approximately $2,500,000. Hedge funds and other institutional investors own 95.71% of the company’s stock.
In other Noble Energy news, CEO David L. Stover purchased 19,000 shares of Noble Energy stock in a transaction that occurred on Monday, December 18th. The stock was acquired at an average price of $26.31 per share, with a total value of $499,890.00. Following the transaction, the chief executive officer now owns 727,254 shares in the company, valued at approximately $19,134,052.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kenneth M. Fisher sold 7,621 shares of Noble Energy stock in a transaction on Monday, February 5th. The shares were sold at an average price of $28.80, for a total transaction of $219,484.80. Following the completion of the sale, the chief financial officer now directly owns 197,144 shares of the company’s stock, valued at approximately $5,677,747.20. The disclosure for this sale can be found here. Company insiders own 1.96% of the company’s stock.
Shares of Noble Energy, Inc. (NYSE:NBL) opened at $29.70 on Thursday. The firm has a market cap of $14,854.35, a price-to-earnings ratio of 100.60 and a beta of 1.10. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.27. Noble Energy, Inc. has a one year low of $22.99 and a one year high of $35.74.
Noble Energy (NYSE:NBL) last posted its quarterly earnings results on Tuesday, February 20th. The oil and gas development company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.28. Noble Energy had a negative net margin of 26.27% and a positive return on equity of 1.46%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the firm posted $0.26 EPS. Noble Energy’s revenue was up 18.9% compared to the same quarter last year. analysts expect that Noble Energy, Inc. will post 0.89 earnings per share for the current fiscal year.
Noble Energy announced that its board has initiated a stock repurchase plan on Thursday, February 15th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the oil and gas development company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Monday, February 12th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Friday, February 9th. Noble Energy’s payout ratio is currently -16.74%.
NBL has been the subject of several analyst reports. Stifel Nicolaus set a $41.00 price target on shares of Noble Energy and gave the stock a “buy” rating in a report on Tuesday, November 28th. Jefferies Group restated a “buy” rating and set a $41.00 price target on shares of Noble Energy in a report on Friday, February 23rd. Royal Bank of Canada set a $36.00 price target on shares of Noble Energy and gave the stock a “buy” rating in a report on Wednesday, December 20th. KLR Group raised their price target on shares of Noble Energy from $9.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, Bank of America raised their price target on shares of Noble Energy from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-one have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $40.52.
TRADEMARK VIOLATION WARNING: This story was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US & international trademark & copyright laws. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2018/03/15/teachers-retirement-system-of-the-state-of-kentucky-reduces-position-in-noble-energy-inc-nbl.html.
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.
Want to see what other hedge funds are holding NBL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Noble Energy, Inc. (NYSE:NBL).
Receive News & Ratings for Noble Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noble Energy and related companies with MarketBeat.com's FREE daily email newsletter.