Cwm LLC Has $1.78 Million Stake in Noble Energy, Inc. (NBL)
Cwm LLC decreased its position in shares of Noble Energy, Inc. (NYSE:NBL) by 20.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 61,054 shares of the oil and gas development company’s stock after selling 15,563 shares during the period. Cwm LLC’s holdings in Noble Energy were worth $1,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC purchased a new position in shares of Noble Energy during the 2nd quarter valued at approximately $106,000. Massey Quick Simon & CO. LLC purchased a new position in shares of Noble Energy during the 3rd quarter valued at approximately $155,000. Sawyer & Company Inc purchased a new position in shares of Noble Energy during the 4th quarter valued at approximately $169,000. BT Investment Management Ltd purchased a new position in shares of Noble Energy during the 2nd quarter valued at approximately $221,000. Finally, Riverhead Capital Management LLC lifted its position in shares of Noble Energy by 16.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,529 shares of the oil and gas development company’s stock valued at $241,000 after buying an additional 1,215 shares in the last quarter. 94.16% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Gary W. Willingham acquired 30,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were bought at an average price of $26.00 per share, for a total transaction of $780,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David L. Stover acquired 19,000 shares of the firm’s stock in a transaction 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 acquisition, the chief executive officer now directly owns 727,254 shares in the company, valued at approximately $19,134,052.74. The disclosure for this purchase can be found here. Insiders sold a total of 518,787 shares of company stock worth $14,283,745 in the last 90 days. 2.28% of the stock is currently owned by insiders.
Noble Energy (NYSE:NBL) last announced its quarterly earnings data on Monday, October 30th. The oil and gas development company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.11. The company had revenue of $960.00 million for the quarter, compared to analyst estimates of $961.61 million. Noble Energy had a positive return on equity of 1.06% and a negative net margin of 45.85%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.07) EPS.
A number of brokerages have recently issued reports on NBL. Mizuho set a $43.00 target price on Noble Energy and gave the company a “buy” rating in a research report on Tuesday. Capital One Financial upgraded Noble Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, January 10th. Piper Jaffray Companies reiterated a “buy” rating and set a $41.00 target price on shares of Noble Energy in a research report on Tuesday, January 9th. Royal Bank of Canada set a $36.00 target price on Noble Energy and gave the company a “buy” rating in a research report on Wednesday, December 20th. Finally, Jefferies Group upgraded Noble Energy from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Wednesday, December 20th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and nineteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $39.26.
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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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