Teachers Retirement System of The State of Kentucky lessened its stake in shares of Noble Energy (NYSE:NBL) by 8.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 273,828 shares of the oil and gas development company’s stock after selling 26,000 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.06% of Noble Energy worth $7,979,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massey Quick Simon & CO. LLC purchased a new stake in shares of Noble Energy during the 3rd quarter valued at about $155,000. Sawyer & Company Inc purchased a new stake in shares of Noble Energy during the 4th quarter valued at about $169,000. Lourd Capital LLC purchased a new stake in shares of Noble Energy during the 4th quarter valued at about $203,000. Levin Capital Strategies L.P. purchased a new stake in shares of Noble Energy during the 4th quarter valued at about $219,000. Finally, FDx Advisors Inc. purchased a new stake in shares of Noble Energy during the 4th quarter valued at about $231,000. 95.64% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on NBL. UBS began coverage on shares of Noble Energy in a report on Wednesday, March 7th. They issued a “buy” rating and a $40.00 price objective on the stock. JPMorgan Chase downgraded shares of Noble Energy from an “overweight” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a report on Friday, December 15th. Capital One Financial raised shares of Noble Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, January 10th. Jefferies Group raised shares of Noble Energy from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Wednesday, December 20th. Finally, Deutsche Bank set a $40.00 price objective on shares of Noble Energy and gave the stock a “buy” rating in a report on Wednesday, February 21st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-one have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $40.71.
NYSE NBL opened at $29.26 on Friday. Noble Energy has a 12 month low of $22.99 and a 12 month high of $35.74. The company has a market cap of $14,623.02, a price-to-earnings ratio of 94.39 and a beta of 1.04. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.64.
Noble Energy (NYSE:NBL) last released its earnings results on Tuesday, February 20th. The oil and gas development company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the business earned $0.26 EPS. The firm’s revenue was up 18.9% compared to the same quarter last year. analysts expect that Noble Energy will post 0.91 earnings per share for the current year.
Noble Energy announced that its board has initiated a stock repurchase plan on Thursday, February 15th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the oil and gas development company to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
In other news, Director James E. Craddock sold 8,500 shares of Noble Energy stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $31.35, for a total transaction of $266,475.00. Following the sale, the director now owns 93,413 shares in the company, valued at $2,928,497.55. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kenneth M. Fisher sold 7,621 shares of Noble Energy stock in a transaction that occurred 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 sale, the chief financial officer now owns 197,144 shares in the company, 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.
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Noble Energy Company Profile
Noble Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids worldwide. It owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins. It principal projects are primarily located in the US unconventional basins and various global offshore conventional basins.
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