Investec Asset Management North America Inc. cut its position in Noble Energy, Inc. (NYSE:NBL) by 4.2% during the fourth quarter, Holdings Channel reports. The fund owned 254,185 shares of the oil and gas development company’s stock after selling 11,100 shares during the period. Investec Asset Management North America Inc.’s holdings in Noble Energy were worth $9,674,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. Capital Research Global Investors raised its stake in shares of Noble Energy by 19.0% in the second quarter. Capital Research Global Investors now owns 49,608,485 shares of the oil and gas development company’s stock worth $1,779,456,000 after buying an additional 7,920,780 shares during the last quarter. State Street Corp raised its stake in shares of Noble Energy by 13.4% in the fourth quarter. State Street Corp now owns 28,429,838 shares of the oil and gas development company’s stock worth $1,082,036,000 after buying an additional 3,365,831 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Noble Energy by 57.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 5,436,005 shares of the oil and gas development company’s stock worth $206,894,000 after buying an additional 1,978,575 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Noble Energy by 2,899.4% in the third quarter. Victory Capital Management Inc. now owns 2,023,812 shares of the oil and gas development company’s stock worth $72,331,000 after buying an additional 1,956,339 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Noble Energy by 39.2% in the third quarter. Ameriprise Financial Inc. now owns 6,884,535 shares of the oil and gas development company’s stock worth $246,049,000 after buying an additional 1,939,469 shares during the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.
Shares of Noble Energy, Inc. (NYSE:NBL) traded down 1.05% during mid-day trading on Monday, reaching $38.46. 4,755,861 shares of the company traded hands. Noble Energy, Inc. has a 52 week low of $27.85 and a 52 week high of $42.03. The firm has a 50 day moving average of $38.98 and a 200-day moving average of $36.73. The stock’s market capitalization is $16.54 billion.
Noble Energy (NYSE:NBL) last issued its earnings results on Tuesday, February 14th. The oil and gas development company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.36. The company earned $1.01 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Noble Energy had a negative return on equity of 1.70% and a negative net margin of 83.38%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 EPS. On average, equities research analysts expect that Noble Energy, Inc. will post ($0.94) EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 21st. Shareholders of record on Monday, February 6th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.04%. The ex-dividend date is Thursday, February 2nd. Noble Energy’s payout ratio is currently -6.19%.
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A number of equities research analysts recently commented on NBL shares. Jefferies Group LLC reiterated a “buy” rating and set a $45.00 price target on shares of Noble Energy in a report on Wednesday, October 19th. Nomura reiterated a “buy” rating and set a $41.00 price target on shares of Noble Energy in a report on Monday, November 7th. Seaport Global Securities upgraded shares of Noble Energy from a “sell” rating to a “neutral” rating and upped their price target for the company from $33.00 to $36.00 in a report on Tuesday, January 17th. Credit Suisse Group reiterated a “buy” rating and set a $46.00 price target on shares of Noble Energy in a report on Monday, December 19th. Finally, Barclays PLC lowered their price target on shares of Noble Energy from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, January 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $43.18.
In other Noble Energy news, Director Kleef William T. Van sold 10,000 shares of the company’s stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $40.00, for a total value of $400,000.00. Following the completion of the sale, the director now directly owns 107,296 shares in the company, valued at approximately $4,291,840. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Gary W. Willingham sold 15,958 shares of the company’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $40.00, for a total value of $638,320.00. Following the completion of the sale, the vice president now owns 122,897 shares of the company’s stock, valued at $4,915,880. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 249,593 shares of company stock valued at $10,020,282. 2.17% of the stock is owned by company insiders.
About Noble Energy
Noble Energy, Inc is an independent energy company engaged in crude oil, natural gas and natural gas liquids (NGLs) exploration and production. The Company’s portfolio is diversified between short-term and long-term projects, domestic and international and a balanced production mix among crude oil, natural gas and NGLs.
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