Traders sold shares of Noble Energy (NYSE:NBL) on strength during trading on Monday. $13.16 million flowed into the stock on the tick-up and $72.83 million flowed out of the stock on the tick-down, for a money net flow of $59.67 million out of the stock. Of all companies tracked, Noble Energy had the 0th highest net out-flow for the day. Noble Energy traded up $0.05 for the day and closed at $33.82
A number of equities research analysts have commented on NBL shares. Piper Jaffray reiterated a “buy” rating and set a $41.00 target price on shares of Noble Energy in a report on Tuesday, January 9th. Capital One upgraded Noble Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, January 10th. Mizuho set a $43.00 target price on Noble Energy and gave the company a “buy” rating in a report on Tuesday, January 16th. Credit Suisse Group set a $40.00 target price on Noble Energy and gave the company a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, Morgan Stanley increased their target price on Noble Energy from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-two have issued a buy rating to the company. Noble Energy currently has a consensus rating of “Buy” and a consensus price target of $40.86.
The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $16,645.93, a PE ratio of 108.87 and a beta of 1.04.
Noble Energy (NYSE:NBL) last posted its quarterly earnings data on Tuesday, February 20th. The oil and gas development company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.28. Noble Energy had a positive return on equity of 1.46% and a negative net margin of 26.27%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the firm earned $0.26 earnings per share. The business’s revenue was up 18.9% on a year-over-year basis. research analysts forecast that Noble Energy will post 1.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 21st. Investors of record on Monday, May 7th will be given a $0.11 dividend. This is a positive change from Noble Energy’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Friday, May 4th. Noble Energy’s dividend payout ratio (DPR) is 129.03%.
Noble Energy declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 15th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the oil and gas development company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
In related news, Director James E. Craddock sold 8,500 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $31.35, for a total value of $266,475.00. Following the transaction, the director now directly owns 93,413 shares of the company’s stock, valued at approximately $2,928,497.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kenneth M. Fisher sold 7,621 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $28.80, for a total value of $219,484.80. Following the completion of the transaction, the chief financial officer now directly owns 197,144 shares in the company, valued at $5,677,747.20. The disclosure for this sale can be found here. Company insiders own 1.96% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Xact Kapitalforvaltning AB raised its position in Noble Energy by 14.8% in the fourth quarter. Xact Kapitalforvaltning AB now owns 47,308 shares of the oil and gas development company’s stock valued at $1,379,000 after purchasing an additional 6,105 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Noble Energy by 14.3% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 225,333 shares of the oil and gas development company’s stock worth $6,566,000 after acquiring an additional 28,191 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in shares of Noble Energy by 45.7% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 28,702 shares of the oil and gas development company’s stock worth $836,000 after acquiring an additional 9,000 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in shares of Noble Energy by 17.3% during the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 275,700 shares of the oil and gas development company’s stock worth $8,034,000 after acquiring an additional 40,700 shares during the last quarter. Finally, MetLife Investment Advisors LLC purchased a new stake in shares of Noble Energy during the fourth quarter worth about $4,387,000. 95.65% of the stock is currently owned by institutional investors and hedge funds.
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About Noble Energy
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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