Allen Investment Management LLC Buys 902 Shares of Noble Energy Inc. (NBL)
Allen Investment Management LLC increased its stake in shares of Noble Energy Inc. (NYSE:NBL) by 4.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 21,296 shares of the oil and gas development company’s stock after buying an additional 902 shares during the period. Allen Investment Management LLC’s holdings in Noble Energy were worth $603,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp boosted its stake in Noble Energy by 5.5% in the first quarter. Fifth Third Bancorp now owns 2,913 shares of the oil and gas development company’s stock worth $100,000 after buying an additional 153 shares during the last quarter. Private Advisor Group LLC bought a new position in Noble Energy during the first quarter worth approximately $132,000. Harbour Capital Advisors LLC bought a new position in Noble Energy during the first quarter worth approximately $136,000. Global X Management Co. LLC raised its position in Noble Energy by 30.1% in the first quarter. Global X Management Co. LLC now owns 5,702 shares of the oil and gas development company’s stock worth $196,000 after buying an additional 1,319 shares during the period. Finally, Highbridge Capital Management LLC bought a new position in Noble Energy during the first quarter worth approximately $201,000. 91.83% of the stock is owned by hedge funds and other institutional investors.
Noble Energy Inc. (NBL) opened at 23.72 on Thursday. The company’s market capitalization is $11.20 billion. The stock has a 50 day moving average price of $26.53 and a 200 day moving average price of $31.13. Noble Energy Inc. has a 52-week low of $23.01 and a 52-week high of $42.03.
Noble Energy (NYSE:NBL) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.18. Noble Energy had a negative net margin of 46.63% and a positive return on equity of 0.86%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the firm posted ($0.24) EPS. The firm’s revenue was up 25.0% compared to the same quarter last year. Equities research analysts forecast that Noble Energy Inc. will post ($0.15) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Monday, August 7th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.40 annualized dividend and a dividend yield of 1.69%. Noble Energy’s payout ratio is presently -9.90%.
NBL has been the topic of a number of recent research reports. BidaskClub upgraded Noble Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Cowen and Company set a $35.00 price objective on Noble Energy and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Scotiabank set a $38.00 price objective on Noble Energy and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Seaport Global Securities upgraded Noble Energy from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $23.00 to $26.00 in a research note on Friday, August 11th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $47.00 price objective on shares of Noble Energy in a research note on Monday, May 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $41.11.
Noble Energy Company 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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