Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 5,633 Shares of Noble Energy Inc. (NBL)
Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its stake in Noble Energy Inc. (NYSE:NBL) by 8.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,379 shares of the oil and gas development company’s stock after selling 5,633 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Noble Energy were worth $1,822,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the company. HighTower Advisors LLC grew its stake in Noble Energy by 0.4% during the first quarter. HighTower Advisors LLC now owns 12,644 shares of the oil and gas development company’s stock worth $434,000 after purchasing an additional 52 shares during the period. Wetherby Asset Management Inc. grew its stake in Noble Energy by 2.4% during the first quarter. Wetherby Asset Management Inc. now owns 6,232 shares of the oil and gas development company’s stock worth $214,000 after purchasing an additional 147 shares during the period. Fifth Third Bancorp grew its stake in Noble Energy by 5.5% during the first quarter. Fifth Third Bancorp now owns 2,913 shares of the oil and gas development company’s stock worth $100,000 after purchasing an additional 153 shares during the period. Cadence Capital Management LLC grew its stake in Noble Energy by 1.0% during the second quarter. Cadence Capital Management LLC now owns 15,922 shares of the oil and gas development company’s stock worth $451,000 after purchasing an additional 163 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Noble Energy by 2.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,842 shares of the oil and gas development company’s stock worth $304,000 after purchasing an additional 203 shares during the period. 91.83% of the stock is owned by institutional investors.
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Noble Energy Inc. (NBL) opened at 24.22 on Tuesday. The company’s market cap is $11.43 billion. 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 $25.98 and a 200-day moving average price of $30.60.
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, topping the consensus estimate of ($0.13) by $0.18. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. Noble Energy had a positive return on equity of 0.86% and a negative net margin of 46.63%. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.24) EPS. On average, analysts predict that Noble Energy Inc. will post ($0.15) EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Monday, August 7th were paid a $0.10 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $0.40 annualized dividend and a dividend yield of 1.65%. Noble Energy’s payout ratio is currently -9.90%.
Several research firms recently commented on NBL. Jefferies Group LLC reaffirmed a “buy” rating and set a $32.00 target price (down previously from $36.00) on shares of Noble Energy in a research note on Tuesday, August 29th. Cowen and Company set a $35.00 target price on Noble Energy and gave the stock a “buy” rating in a research note on Friday, August 25th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Noble Energy in a research note on Sunday, August 20th. Seaport Global Securities raised Noble Energy from a “sell” rating to a “neutral” rating and raised their target price for the stock from $23.00 to $26.00 in a research note on Friday, August 11th. Finally, Barclays PLC raised their target price on Noble Energy from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, August 7th. Two research 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 stock. The company currently has a consensus rating of “Buy” and a consensus target price 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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