BlackRock Advisors LLC Cuts Position in Noble Energy Inc. (NBL)
BlackRock Advisors LLC decreased its position in shares of Noble Energy Inc. (NYSE:NBL) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 964,236 shares of the oil and gas development company’s stock after selling 25,270 shares during the period. BlackRock Advisors LLC owned about 0.22% of Noble Energy worth $34,587,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Noble Energy by 1.6% in the second quarter. Vanguard Group Inc. now owns 27,700,989 shares of the oil and gas development company’s stock valued at $993,635,000 after buying an additional 432,855 shares during the last quarter. State Street Corp increased its position in Noble Energy by 3.0% in the first quarter. State Street Corp now owns 22,085,356 shares of the oil and gas development company’s stock valued at $693,709,000 after buying an additional 650,673 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Noble Energy by 1.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 11,044,227 shares of the oil and gas development company’s stock valued at $346,899,000 after buying an additional 123,419 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in Noble Energy by 15.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 10,541,323 shares of the oil and gas development company’s stock valued at $331,103,000 after buying an additional 1,377,137 shares during the last quarter. Finally, Carmignac Gestion acquired a new position in Noble Energy during the second quarter valued at $218,343,000. Institutional investors own 93.83% of the company’s stock.
Noble Energy Inc. (NYSE:NBL) opened at 33.10 on Wednesday. The company’s market cap is $14.23 billion. Noble Energy Inc. has a one year low of $23.77 and a one year high of $39.85. The stock has a 50 day moving average of $34.89 and a 200 day moving average of $34.83.
Noble Energy (NYSE:NBL) last issued its quarterly earnings data on Wednesday, August 3rd. The oil and gas development company reported ($0.24) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.05. The business had revenue of $847 million for the quarter, compared to analysts’ expectations of $909.36 million. Noble Energy had a negative return on equity of 2.16% and a negative net margin of 90.52%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 EPS. On average, analysts anticipate that Noble Energy Inc. will post ($1.09) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 22nd. Stockholders of record on Monday, August 8th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, August 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.21%. Noble Energy’s dividend payout ratio (DPR) is -5.88%.
Several research analysts have weighed in on NBL shares. Stifel Nicolaus upped their price objective on shares of Noble Energy from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, June 8th. Seaport Global Securities upgraded shares of Noble Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $36.00 to $45.00 in a report on Tuesday, June 7th. Credit Suisse Group AG reiterated a “buy” rating on shares of Noble Energy in a research note on Thursday, June 2nd. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Noble Energy in a research note on Wednesday, June 1st. Finally, Sterne Agee CRT upgraded shares of Noble Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $35.33 to $47.00 in a research note on Wednesday, May 25th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $41.10.
In related news, Director Thomas J. Edelman sold 12,000 shares of the stock in a transaction on Friday, June 24th. The stock was sold at an average price of $35.09, for a total transaction of $421,080.00. Following the sale, the director now owns 3,032,978 shares in the company, valued at approximately $106,427,198.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey L. Berenson sold 10,000 shares of the stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $34.05, for a total value of $340,500.00. Following the sale, the director now owns 82,269 shares in the company, valued at approximately $2,801,259.45. The disclosure for this sale can be found here. Corporate insiders own 2.17% of the company’s stock.
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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