HPM Partners LLC decreased its position in shares of Noble Energy, Inc. (NYSE:NBL) by 15.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,486 shares of the oil and gas development company’s stock after selling 4,834 shares during the period. HPM Partners LLC’s holdings in Noble Energy were worth $801,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Shell Asset Management Co. grew its position in shares of Noble Energy by 113.7% during the fourth quarter. Shell Asset Management Co. now owns 119,793 shares of the oil and gas development company’s stock valued at $3,491,000 after purchasing an additional 63,737 shares in the last quarter. Greenwood Capital Associates LLC grew its position in shares of Noble Energy by 49.7% during the fourth quarter. Greenwood Capital Associates LLC now owns 11,341 shares of the oil and gas development company’s stock valued at $330,000 after purchasing an additional 3,766 shares in the last quarter. Vident Investment Advisory LLC purchased a new position in shares of Noble Energy during the third quarter valued at about $361,000. Retirement Systems of Alabama grew its position in shares of Noble Energy by 7.0% during the third quarter. Retirement Systems of Alabama now owns 236,050 shares of the oil and gas development company’s stock valued at $6,694,000 after purchasing an additional 15,349 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Noble Energy during the third quarter valued at about $2,500,000. Hedge funds and other institutional investors own 95.71% of the company’s stock.
A number of brokerages have recently weighed in on NBL. Argus upgraded Noble Energy from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Tuesday. UBS Group initiated coverage on Noble Energy in a research report on Wednesday, March 7th. They issued a “buy” rating and a $40.00 price target for the company. BMO Capital Markets reiterated a “buy” rating and issued a $38.00 price target on shares of Noble Energy in a research report on Tuesday, February 27th. Bank of America lifted their price target on Noble Energy from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Finally, Royal Bank of Canada set a $37.00 price target on Noble Energy and gave the stock a “buy” rating in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $40.52.
Shares of Noble Energy, Inc. (NYSE NBL) opened at $30.18 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.27. Noble Energy, Inc. has a 12 month low of $22.99 and a 12 month high of $35.74. The firm has a market cap of $15,198.89, a P/E ratio of -12.63 and a beta of 1.10.
Noble Energy (NYSE:NBL) last posted its quarterly earnings results on Tuesday, February 20th. The oil and gas development company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the firm posted $0.26 earnings per share. The company’s revenue was up 18.9% on a year-over-year basis. sell-side analysts expect that Noble Energy, Inc. will post 0.84 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Monday, February 12th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Friday, February 9th. Noble Energy’s dividend payout ratio is presently -16.74%.
Noble Energy declared that its Board of Directors has approved a share repurchase program 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 programs are typically a sign that the company’s leadership believes its stock is undervalued.
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Noble Energy Profile
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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