Eagle Asset Management Inc. cut its stake in shares of Noble Energy Inc. (NYSE:NBL) by 0.5% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 76,049 shares of the oil and gas development company’s stock after selling 350 shares during the period. Eagle Asset Management Inc.’s holdings in Noble Energy were worth $2,152,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Chicago Equity Partners LLC lifted its position in Noble Energy by 372.1% during the 2nd quarter. Chicago Equity Partners LLC now owns 49,620 shares of the oil and gas development company’s stock worth $1,404,000 after acquiring an additional 39,110 shares in the last quarter. Principal Financial Group Inc. lifted its position in Noble Energy by 6.1% during the 2nd quarter. Principal Financial Group Inc. now owns 721,740 shares of the oil and gas development company’s stock worth $20,426,000 after acquiring an additional 41,433 shares in the last quarter. Greenwood Capital Associates LLC lifted its position in Noble Energy by 27.0% during the 2nd quarter. Greenwood Capital Associates LLC now owns 7,630 shares of the oil and gas development company’s stock worth $216,000 after acquiring an additional 1,620 shares in the last quarter. IndexIQ Advisors LLC acquired a new position in Noble Energy during the 2nd quarter worth approximately $214,000. Finally, Allen Investment Management LLC lifted its position in Noble Energy by 4.4% during the 2nd quarter. Allen Investment Management LLC now owns 21,296 shares of the oil and gas development company’s stock worth $603,000 after acquiring an additional 902 shares in the last quarter. 91.83% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Noble Energy Inc. (NYSE:NBL) opened at 24.62 on Monday. Noble Energy Inc. has a one year low of $22.99 and a one year high of $42.03. The company’s market capitalization is $11.62 billion. The stock has a 50 day moving average price of $25.46 and a 200-day moving average price of $30.24.
Noble Energy (NYSE:NBL) last issued its earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.18. Noble Energy had a positive return on equity of 0.86% and a negative net margin of 46.63%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the firm posted ($0.24) EPS. Noble Energy’s quarterly revenue was up 25.0% compared to the same quarter last year. Equities research analysts predict that Noble Energy Inc. will post ($0.15) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Monday, August 7th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 1.62%. Noble Energy’s dividend payout ratio is -9.90%.
Several research firms recently commented on NBL. Jefferies Group LLC reissued a “buy” rating and set a $32.00 price target (down from $36.00) on shares of Noble Energy in a research report on Tuesday, August 29th. Cowen and Company set a $35.00 price target on Noble Energy and gave the stock a “buy” rating in a research report on Friday, August 25th. Piper Jaffray Companies reissued a “buy” rating on shares of Noble Energy in a research report on Sunday, August 20th. Seaport Global Securities raised Noble Energy from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $23.00 to $26.00 in a research report on Friday, August 11th. Finally, Barclays PLC boosted their price target on Noble Energy from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, August 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $41.11.
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About Noble Energy
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.
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