Utah Retirement Systems Acquires 10,383 Shares of Noble Energy Inc. (NBL)
Utah Retirement Systems raised its position in Noble Energy Inc. (NYSE:NBL) by 13.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,143 shares of the oil and gas development company’s stock after buying an additional 10,383 shares during the period. Utah Retirement Systems’ holdings in Noble Energy were worth $2,495,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of NBL. Chicago Equity Partners LLC acquired a new position in Noble Energy during the first quarter worth $361,000. Tyers Asset Management LLC raised its position in Noble Energy by 18.1% in the first quarter. Tyers Asset Management LLC now owns 10,352 shares of the oil and gas development company’s stock worth $355,000 after buying an additional 1,584 shares during the last quarter. State Treasurer State of Michigan raised its position in Noble Energy by 2.1% in the first quarter. State Treasurer State of Michigan now owns 143,061 shares of the oil and gas development company’s stock worth $4,913,000 after buying an additional 2,900 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its position in Noble Energy by 52.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 23,488 shares of the oil and gas development company’s stock worth $807,000 after buying an additional 8,125 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Noble Energy by 4.0% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 69,196 shares of the oil and gas development company’s stock worth $2,376,000 after buying an additional 2,646 shares during the last quarter. Hedge funds and other institutional investors own 91.83% of the company’s stock.
Shares of Noble Energy Inc. (NBL) opened at 23.77 on Friday. Noble Energy Inc. has a 52 week low of $23.01 and a 52 week high of $42.03. The company’s 50-day moving average is $26.09 and its 200 day moving average is $30.70. The stock’s market capitalization is $11.22 billion.
Noble Energy (NYSE:NBL) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the firm posted ($0.24) earnings per share. Noble Energy’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, equities analysts forecast that Noble Energy Inc. will post ($0.15) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Monday, August 7th were issued a $0.10 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $0.40 annualized dividend and a yield of 1.68%. Noble Energy’s payout ratio is -9.90%.
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Several equities analysts have weighed in on the stock. Scotiabank set a $41.00 target price on shares of Noble Energy and gave the company a “hold” rating in a report on Tuesday, May 16th. Jefferies Group LLC set a $40.00 target price on shares of Noble Energy and gave the company a “buy” rating in a report on Wednesday, May 17th. Piper Jaffray Companies reiterated an “overweight” rating on shares of Noble Energy in a report on Monday, May 15th. Bank of America Corporation upgraded shares of Noble Energy from a “neutral” rating to a “buy” rating and decreased their target price for the company from $53.00 to $49.00 in a report on Thursday, May 11th. Finally, Cowen and Company set a $45.00 target price on shares of Noble Energy and gave the company a “buy” rating in a report on Tuesday, May 23rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $41.11.
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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