Mitchell Group Inc. Boosts Stake in Noble Energy Inc. (NBL)
Mitchell Group Inc. increased its position in Noble Energy Inc. (NYSE:NBL) by 2.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,093,154 shares of the oil and gas development company’s stock after buying an additional 25,940 shares during the period. Noble Energy accounts for about 4.8% of Mitchell Group Inc.’s portfolio, making the stock its 5th largest position. Mitchell Group Inc. owned about 0.22% of Noble Energy worth $30,936,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of NBL. Fifth Third Bancorp boosted its stake in 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 worth $100,000 after buying an additional 153 shares during the last quarter. Private Advisor Group LLC acquired a new stake in Noble Energy during the first quarter valued at approximately $132,000. Harbour Capital Advisors LLC acquired a new stake in Noble Energy during the first quarter valued at approximately $136,000. Global X Management Co. LLC boosted its stake in 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 in the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in Noble Energy during the first quarter valued at approximately $201,000. 91.83% of the stock is owned by institutional investors.
Noble Energy Inc. (NYSE NBL) traded up 1.89% on Friday, hitting $24.22. The company had a trading volume of 3,846,925 shares. The firm’s 50 day moving average price is $25.98 and its 200 day moving average price is $30.60. Noble Energy Inc. has a 12-month low of $23.01 and a 12-month high of $42.03. The stock’s market cap is $11.43 billion.
Noble Energy (NYSE:NBL) last released its earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 earnings per share 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 business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the company earned ($0.24) earnings per share. The firm’s revenue was up 25.0% on a year-over-year basis. Equities analysts predict that Noble Energy Inc. will post ($0.15) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Monday, August 7th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Thursday, August 3rd. Noble Energy’s dividend payout ratio is -9.90%.
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NBL has been the subject of several recent analyst reports. Piper Jaffray Companies reissued an “overweight” rating and issued a $47.00 price target on shares of Noble Energy in a report on Monday, May 8th. Bank of America Corporation raised Noble Energy from a “neutral” rating to a “buy” rating and reduced their price target for the company from $53.00 to $49.00 in a report on Thursday, May 11th. Jefferies Group LLC set a $40.00 price target on Noble Energy and gave the company a “buy” rating in a report on Wednesday, May 17th. Scotiabank set a $41.00 price target on Noble Energy and gave the company a “hold” rating in a report on Tuesday, May 16th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $44.00 price target (up from $43.00) on shares of Noble Energy in a report on Friday, May 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $41.11.
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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