Noble Energy, Inc. (NBL) Position Decreased by Gabelli Funds LLC
Gabelli Funds LLC cut its stake in shares of Noble Energy, Inc. (NYSE:NBL) by 5.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 217,854 shares of the oil and gas development company’s stock after selling 12,000 shares during the period. Gabelli Funds LLC’s holdings in Noble Energy were worth $7,481,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Seven Eight Capital LP acquired a new stake in shares of Noble Energy during the fourth quarter valued at about $156,000. Boothbay Fund Management LLC acquired a new stake in shares of Noble Energy during the fourth quarter valued at about $204,000. IFM Investors Pty Ltd acquired a new stake in shares of Noble Energy during the fourth quarter valued at about $205,000. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Noble Energy during the fourth quarter valued at about $212,000. Finally, Wetherby Asset Management Inc. raised its stake in shares of Noble Energy by 2.4% in the first quarter. Wetherby Asset Management Inc. now owns 6,232 shares of the oil and gas development company’s stock valued at $214,000 after buying an additional 147 shares during the period. 93.79% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Noble Energy, Inc. (NYSE:NBL) traded up 1.40% during mid-day trading on Friday, hitting $31.15. 4,180,271 shares of the company were exchanged. Noble Energy, Inc. has a 12-month low of $29.39 and a 12-month high of $42.03. The firm has a 50 day moving average of $33.09 and a 200 day moving average of $36.35. The company’s market capitalization is $13.43 billion.
Noble Energy (NYSE:NBL) last posted its quarterly earnings data on Monday, May 1st. The oil and gas development company reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.09. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $974.54 million. Noble Energy had a negative return on equity of 2.51% and a negative net margin of 28.59%. The firm’s quarterly revenue was up 43.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.53) earnings per share. Equities research analysts forecast that Noble Energy, Inc. will post $0.02 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 22nd. Investors of record on Monday, May 8th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Thursday, May 4th. Noble Energy’s dividend payout ratio is currently -17.24%.
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Several equities research analysts have issued reports on NBL shares. Credit Suisse Group AG reissued a “buy” rating and issued a $44.00 price target on shares of Noble Energy in a report on Thursday, April 27th. Royal Bank of Canada reissued a “buy” rating and issued a $48.00 price target on shares of Noble Energy in a report on Tuesday, April 25th. Wunderlich reissued a “buy” rating on shares of Noble Energy in a report on Thursday, January 19th. KLR Group reissued a “buy” rating on shares of Noble Energy in a report on Monday, March 13th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $47.00 price target on shares of Noble Energy in a report on Friday, March 3rd. Four research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $44.55.
In related news, Director Jeffrey L. Berenson sold 23,000 shares of Noble Energy stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $34.27, for a total value of $788,210.00. Following the transaction, the director now directly owns 51,803 shares of the company’s stock, valued at $1,775,288.81. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.17% of the stock is owned by insiders.
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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