Cigna Investments Inc. New cut its stake in Noble Energy Inc. (NYSE:NBL) by 1.0% during the second quarter, Holdings Channel reports. The fund owned 17,634 shares of the oil and gas development company’s stock after selling 184 shares during the period. Cigna Investments Inc. New’s holdings in Noble Energy were worth $499,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NBL. Fifth Third Bancorp boosted its position in shares of 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 valued at $100,000 after buying an additional 153 shares during the last quarter. Private Advisor Group LLC purchased a new position in shares of Noble Energy during the first quarter valued at approximately $132,000. Harbour Capital Advisors LLC purchased a new position in shares of Noble Energy during the first quarter valued at approximately $136,000. Global X Management Co. LLC boosted its position in shares of 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 valued at $196,000 after buying an additional 1,319 shares during the last quarter. Finally, Highbridge Capital Management LLC purchased a new position in shares of Noble Energy during the first quarter valued at approximately $201,000. Institutional investors own 86.57% of the company’s stock.

Shares of Noble Energy Inc. (NBL) opened at 24.57 on Wednesday. The firm’s market cap is $11.60 billion. Noble Energy Inc. has a 52 week low of $24.25 and a 52 week high of $42.03. The stock has a 50 day moving average of $27.53 and a 200 day moving average of $31.95.

Noble Energy (NYSE:NBL) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.18. Noble Energy had a positive return on equity of 0.86% and a negative net margin of 46.63%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the business earned ($0.24) EPS. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. Equities analysts forecast that Noble Energy Inc. will post ($0.14) earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, August 7th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Thursday, August 3rd. Noble Energy’s dividend payout ratio (DPR) is presently -9.90%.

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NBL has been the subject of several recent analyst reports. Bank of America Corporation upgraded shares of Noble Energy from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $53.00 to $49.00 in a report on Thursday, May 11th. Jefferies Group LLC set a $40.00 target price on shares of Noble Energy and gave the stock a “buy” rating in a report on Wednesday, May 17th. Credit Suisse Group reiterated a “buy” rating and issued a $44.00 target price on shares of Noble Energy in a report on Thursday, April 27th. Royal Bank Of Canada reiterated a “buy” rating and issued a $48.00 target price on shares of Noble Energy in a report on Tuesday, April 25th. Finally, Cowen and Company set a $45.00 target price on shares of Noble Energy and gave the stock a “buy” rating in a report on Tuesday, May 23rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Noble Energy presently has an average rating of “Buy” and an average price target of $41.48.

About Noble Energy

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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Institutional Ownership by Quarter for Noble Energy (NYSE:NBL)

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