Zurich Insurance Group Ltd FI Buys 24,496 Shares of Noble Energy Inc. (NBL)
Zurich Insurance Group Ltd FI grew its stake in Noble Energy Inc. (NYSE:NBL) by 39.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,834 shares of the oil and gas development company’s stock after buying an additional 24,496 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Noble Energy were worth $2,429,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of NBL. Fifth Third Bancorp increased its stake 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 period. Harbour Capital Advisors LLC acquired a new stake in shares of Noble Energy in the first quarter valued at about $136,000. Global X Management Co. LLC increased its stake 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 period. Highbridge Capital Management LLC acquired a new stake in shares of Noble Energy in the first quarter valued at about $201,000. Finally, IBM Retirement Fund increased its stake in shares of Noble Energy by 50.1% in the second quarter. IBM Retirement Fund now owns 7,142 shares of the oil and gas development company’s stock valued at $202,000 after buying an additional 2,384 shares during the period. 91.68% of the stock is owned by institutional investors.
Noble Energy Inc. (NYSE NBL) opened at 28.84 on Friday. Noble Energy Inc. has a 12-month low of $22.99 and a 12-month high of $42.03. The stock has a 50 day moving average price of $25.67 and a 200-day moving average price of $29.09. The company’s market cap is $13.61 billion.
Noble Energy (NYSE:NBL) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 EPS for the quarter, topping 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 firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the firm posted ($0.24) EPS. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, analysts predict that Noble Energy Inc. will post ($0.16) EPS for the current fiscal year.
NBL has been the subject of several recent research reports. BidaskClub raised Noble Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Citigroup Inc. cut Noble Energy from a “buy” rating to a “neutral” rating in a research note on Friday, June 16th. Seaport Global Securities cut Noble Energy from a “neutral” rating to a “sell” rating and decreased their price target for the company from $36.00 to $23.00 in a research note on Wednesday, June 21st. BMO Capital Markets reissued a “buy” rating and issued a $45.00 price target on shares of Noble Energy in a research note on Thursday, June 22nd. Finally, Scotiabank set a $43.00 price target on Noble Energy and gave the company a “hold” rating in a research note on Thursday, June 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $41.30.
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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