Baird Financial Group Inc. acquired a new stake in Noble Energy, Inc. (NYSE:NBL) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 105,516 shares of the oil and gas development company’s stock, valued at approximately $3,197,000.
Several other hedge funds and other institutional investors have also bought and sold shares of NBL. Artisan Partners Limited Partnership raised its holdings in shares of Noble Energy by 95.1% in the first quarter. Artisan Partners Limited Partnership now owns 15,854,643 shares of the oil and gas development company’s stock valued at $480,396,000 after purchasing an additional 7,730,137 shares during the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of Noble Energy in the first quarter valued at approximately $65,880,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Noble Energy in the fourth quarter valued at approximately $29,414,000. Sei Investments Co. raised its holdings in shares of Noble Energy by 53.7% in the first quarter. Sei Investments Co. now owns 2,544,673 shares of the oil and gas development company’s stock valued at $77,103,000 after purchasing an additional 888,576 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Noble Energy by 22.4% in the fourth quarter. Alliancebernstein L.P. now owns 3,984,847 shares of the oil and gas development company’s stock valued at $116,118,000 after purchasing an additional 728,937 shares during the last quarter. Institutional investors own 98.58% of the company’s stock.
A number of analysts have recently issued reports on the stock. Tudor Pickering downgraded shares of Noble Energy from a “buy” rating to a “hold” rating in a report on Friday, June 8th. Sanford C. Bernstein upgraded shares of Noble Energy from an “underperform” rating to a “market perform” rating and lowered their price objective for the company from $37.67 to $22.99 in a report on Tuesday, June 5th. Credit Suisse Group downgraded shares of Noble Energy from an “outperform” rating to a “neutral” rating in a report on Wednesday, May 30th. SunTrust Banks assumed coverage on shares of Noble Energy in a report on Friday, May 18th. They set a “buy” rating and a $42.00 target price on the stock. Finally, ValuEngine upgraded shares of Noble Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $40.30.
In other news, VP J. Keith Elliott sold 6,000 shares of the business’s stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $33.27, for a total value of $199,620.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Andrea Lee Robison sold 8,760 shares of the business’s stock in a transaction dated Wednesday, May 9th. The shares were sold at an average price of $35.00, for a total transaction of $306,600.00. Following the completion of the sale, the vice president now directly owns 100,918 shares of the company’s stock, valued at approximately $3,532,130. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,520 shares of company stock valued at $830,340. Company insiders own 1.96% of the company’s stock.
Noble Energy opened at $34.57 on Friday, MarketBeat reports. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.17 and a quick ratio of 1.17. Noble Energy, Inc. has a one year low of $22.99 and a one year high of $37.67. The firm has a market cap of $16.63 billion, a price-to-earnings ratio of 111.52, a P/E/G ratio of 3.02 and a beta of 1.04.
Noble Energy (NYSE:NBL) last released its quarterly earnings data on Tuesday, May 1st. The oil and gas development company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.07. Noble Energy had a negative net margin of 13.32% and a positive return on equity of 3.25%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the business posted ($0.05) earnings per share. The company’s revenue for the quarter was up 24.1% compared to the same quarter last year. sell-side analysts anticipate that Noble Energy, Inc. will post 1.14 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 21st. Shareholders of record on Monday, May 7th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.27%. This is a boost from Noble Energy’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, May 4th. Noble Energy’s payout ratio is 141.94%.
Noble Energy announced that its Board of Directors has initiated a share buyback 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 usually an indication that the company’s board believes its stock is undervalued.
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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