Highstreet Asset Management Inc. Boosts Position in Noble Energy Inc. (NBL)
Highstreet Asset Management Inc. raised its position in shares of Noble Energy Inc. (NYSE:NBL) by 74.6% during the second quarter, Holdings Channel reports. The firm owned 41,403 shares of the oil and gas development company’s stock after buying an additional 17,695 shares during the period. Highstreet Asset Management Inc.’s holdings in Noble Energy were worth $1,172,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its position in Noble Energy by 2,679.8% in the first quarter. BlackRock Inc. now owns 30,020,041 shares of the oil and gas development company’s stock worth $1,030,889,000 after buying an additional 28,940,088 shares during the period. Vanguard Group Inc. increased its position in Noble Energy by 3.9% in the first quarter. Vanguard Group Inc. now owns 29,999,741 shares of the oil and gas development company’s stock worth $1,030,192,000 after buying an additional 1,117,646 shares during the period. FMR LLC increased its position in Noble Energy by 4.3% in the first quarter. FMR LLC now owns 8,709,858 shares of the oil and gas development company’s stock worth $299,097,000 after buying an additional 358,456 shares during the period. Jennison Associates LLC increased its position in Noble Energy by 1.8% in the first quarter. Jennison Associates LLC now owns 8,059,455 shares of the oil and gas development company’s stock worth $276,762,000 after buying an additional 142,417 shares during the period. Finally, American Century Companies Inc. increased its position in Noble Energy by 3.5% in the first quarter. American Century Companies Inc. now owns 7,189,889 shares of the oil and gas development company’s stock worth $246,901,000 after buying an additional 240,712 shares during the period. 86.57% of the stock is currently owned by institutional investors and hedge funds.
Shares of Noble Energy Inc. (NYSE:NBL) opened at 23.02 on Friday. The firm’s market capitalization is $10.87 billion. Noble Energy Inc. has a 52 week low of $23.01 and a 52 week high of $42.03. The firm’s 50-day moving average is $27.28 and its 200 day moving average is $31.82.
Noble Energy (NYSE:NBL) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the company earned ($0.24) earnings per share. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, equities analysts forecast that Noble Energy Inc. will post ($0.14) earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, August 7th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Thursday, August 3rd. Noble Energy’s dividend payout ratio is presently -9.90%.
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A number of research analysts have commented on NBL shares. Seaport Global Securities downgraded shares of Noble Energy from a “neutral” rating to a “sell” rating and cut their target price for the company from $36.00 to $23.00 in a research report on Wednesday, June 21st. Royal Bank Of Canada reissued a “buy” rating and set a $38.00 target price on shares of Noble Energy in a research report on Thursday, July 20th. Scotiabank set a $38.00 target price on shares of Noble Energy and gave the company a “hold” rating in a research report on Thursday, August 3rd. Jefferies Group LLC set a $40.00 target price on shares of Noble Energy and gave the company a “buy” rating in a research report on Wednesday, May 17th. Finally, Evercore ISI reissued an “outperform” rating and set a $40.00 target price on shares of Noble Energy in a research report on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus 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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