Cornerstone Capital Management Holdings LLC. Reduces Holdings in Noble Energy Inc. (NBL)
Cornerstone Capital Management Holdings LLC. reduced its position in Noble Energy Inc. (NYSE:NBL) by 33.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,523 shares of the oil and gas development company’s stock after selling 42,320 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Noble Energy were worth $2,367,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of NBL. Beach Investment Management LLC. bought a new stake in shares of Noble Energy during the 2nd quarter worth about $1,453,000. Global X Management Co. LLC boosted its stake in shares of Noble Energy by 22.6% during the 2nd quarter. Global X Management Co. LLC now owns 6,993 shares of the oil and gas development company’s stock worth $198,000 after acquiring an additional 1,291 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Noble Energy by 9.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,635,368 shares of the oil and gas development company’s stock worth $46,281,000 after acquiring an additional 146,075 shares in the last quarter. State of Wisconsin Investment Board boosted its stake in shares of Noble Energy by 11.7% during the 2nd quarter. State of Wisconsin Investment Board now owns 375,395 shares of the oil and gas development company’s stock worth $10,624,000 after acquiring an additional 39,290 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Noble Energy by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,634,169 shares of the oil and gas development company’s stock worth $102,846,000 after acquiring an additional 9,535 shares in the last quarter. 94.16% of the stock is currently owned by institutional investors.
Shares of Noble Energy Inc. (NBL) opened at $27.23 on Wednesday. Noble Energy Inc. has a 52 week low of $22.99 and a 52 week high of $40.89. The firm has a market capitalization of $12,792.91, a P/E ratio of 109.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.95 and a current ratio of 0.95.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Monday, November 6th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.40 annualized dividend and a yield of 1.47%. Noble Energy’s payout ratio is -10.03%.
Several research firms have recently issued reports on NBL. Jefferies Group upgraded Noble Energy from a “hold” rating to a “buy” rating in a research note on Wednesday. Seaport Global Securities upgraded Noble Energy from a “neutral” rating to a “buy” rating in a research note on Tuesday. Stifel Nicolaus set a $42.00 price target on Noble Energy and gave the stock a “buy” rating in a research note on Monday. J P Morgan Chase & Co downgraded Noble Energy from an “overweight” rating to a “neutral” rating and set a $30.00 price target for the company. in a research note on Friday, December 15th. Finally, Credit Suisse Group began coverage on Noble Energy in a research note on Monday, December 11th. They set an “outperform” rating and a $35.00 price target for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Noble Energy currently has a consensus rating of “Buy” and an average price target of $39.50.
In other Noble Energy news, CEO David L. Stover bought 19,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was purchased at an average price of $26.31 per share, for a total transaction of $499,890.00. Following the purchase, the chief executive officer now directly owns 727,254 shares in the company, valued at $19,134,052.74. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James E. Craddock sold 18,787 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $28.57, for a total value of $536,744.59. Following the sale, the director now owns 114,226 shares of the company’s stock, valued at approximately $3,263,436.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 518,787 shares of company stock valued at $14,283,745. 2.28% of the stock is owned by corporate insiders.
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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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