Massachusetts Financial Services Co. MA trimmed its stake in Noble Energy, Inc. (NYSE:NBL) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 705,092 shares of the oil and gas development company’s stock after selling 24,426 shares during the period. Massachusetts Financial Services Co. MA owned about 0.15% of Noble Energy worth $21,992,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Whittier Trust Co. acquired a new stake in Noble Energy in the 2nd quarter worth $163,000. Advisors Preferred LLC acquired a new stake in Noble Energy in the 2nd quarter worth $126,000. Piedmont Investment Advisors LLC acquired a new stake in Noble Energy in the 2nd quarter worth $200,000. Ingalls & Snyder LLC acquired a new stake in Noble Energy in the 2nd quarter worth $202,000. Finally, Chicago Equity Partners LLC acquired a new stake in Noble Energy in the 2nd quarter worth $204,000. Institutional investors own 97.43% of the company’s stock.
In related news, major shareholder Nbl Midstream, Llc sold 14,137,198 shares of Noble Energy stock in a transaction dated Wednesday, September 26th. The shares were sold at an average price of $17.75, for a total transaction of $250,935,264.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.96% of the company’s stock.
A number of equities analysts have recently commented on the stock. Bank of America assumed coverage on shares of Noble Energy in a report on Tuesday, July 10th. They set a “buy” rating and a $59.00 price objective for the company. Morgan Stanley assumed coverage on shares of Noble Energy in a report on Thursday, July 12th. They set an “equal weight” rating and a $39.00 price objective for the company. Mitsubishi UFJ Financial Group raised their price objective on shares of Noble Energy to $52.00 and gave the stock an “overweight” rating in a report on Thursday, July 19th. Mizuho assumed coverage on shares of Noble Energy in a report on Monday, July 23rd. They set a “buy” rating and a $51.00 price objective for the company. Finally, TD Securities set a $43.00 price objective on shares of Noble Energy and gave the stock a “buy” rating in a report on Sunday, August 5th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $41.96.
Shares of NBL stock opened at $26.34 on Monday. Noble Energy, Inc. has a 12-month low of $23.83 and a 12-month high of $37.76. The stock has a market cap of $12.73 billion, a P/E ratio of 84.97, a PEG ratio of 2.76 and a beta of 1.08. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.58.
Noble Energy (NYSE:NBL) last announced its quarterly earnings results on Thursday, November 1st. The oil and gas development company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.09. Noble Energy had a net margin of 25.09% and a return on equity of 4.82%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm posted ($0.02) EPS. The firm’s quarterly revenue was up 32.6% on a year-over-year basis. On average, equities research analysts expect that Noble Energy, Inc. will post 0.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Investors of record on Monday, November 5th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.67%. The ex-dividend date is Friday, November 2nd. Noble Energy’s dividend payout ratio is currently 141.94%.
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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