Pacer Advisors Inc. Grows Holdings in Noble Energy Inc. (NBL)
Pacer Advisors Inc. boosted its holdings in shares of Noble Energy Inc. (NYSE:NBL) by 8.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,598 shares of the oil and gas development company’s stock after buying an additional 580 shares during the period. Pacer Advisors Inc.’s holdings in Noble Energy were worth $215,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. HighTower Advisors LLC raised its holdings 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 buying an additional 52 shares during the last quarter. Fifth Third Bancorp raised its holdings 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 buying an additional 153 shares during the last quarter. Cadence Capital Management LLC raised its holdings 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 buying an additional 163 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings 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 buying an additional 203 shares during the last quarter. Finally, Cleararc Capital Inc. raised its holdings in Noble Energy by 2.2% during the first quarter. Cleararc Capital Inc. now owns 10,641 shares of the oil and gas development company’s stock worth $365,000 after buying an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 91.83% of the company’s stock.
Shares of Noble Energy Inc. (NYSE NBL) opened at 26.05 on Friday. The stock’s market capitalization is $12.30 billion. Noble Energy Inc. has a 12-month low of $22.99 and a 12-month high of $42.03. The firm’s 50-day moving average is $25.02 and its 200 day moving average is $29.84.
Noble Energy (NYSE:NBL) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.18. The business had revenue of $1.06 billion during 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 business’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.24) EPS. On average, equities research analysts forecast that Noble Energy Inc. will post ($0.15) EPS for the current fiscal year.
The company 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. The ex-dividend date was Thursday, August 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.54%. Noble Energy’s dividend payout ratio is currently -9.90%.
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Several research analysts have weighed in on NBL shares. Seaport Global Securities downgraded shares of Noble Energy from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $36.00 to $23.00 in a report on Wednesday, June 21st. Royal Bank Of Canada reiterated a “buy” rating and issued a $38.00 target price on shares of Noble Energy in a research note on Thursday, July 20th. Scotiabank set a $38.00 target price on shares of Noble Energy and gave the stock a “hold” rating in a research note on Thursday, August 3rd. BidaskClub lowered shares of Noble Energy from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Finally, Citigroup Inc. reduced their target price on shares of Noble Energy from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Noble Energy presently has a consensus rating of “Buy” and an average target price of $42.07.
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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