Noble Energy Inc. (NBL) Shares Bought by Cadence Capital Management LLC
Cadence Capital Management LLC increased its stake in Noble Energy Inc. (NYSE:NBL) by 13.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,123 shares of the oil and gas development company’s stock after buying an additional 2,201 shares during the period. Cadence Capital Management LLC’s holdings in Noble Energy were worth $514,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of NBL. HITE Hedge Asset Management LLC bought a new stake in Noble Energy during the third quarter valued at $585,000. Schroder Investment Management Group increased its stake in Noble Energy by 55.6% during the third quarter. Schroder Investment Management Group now owns 1,163,324 shares of the oil and gas development company’s stock valued at $32,934,000 after purchasing an additional 415,585 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Noble Energy by 7.8% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 59,345 shares of the oil and gas development company’s stock valued at $1,683,000 after purchasing an additional 4,294 shares during the last quarter. Achmea Investment Management B.V. increased its stake in Noble Energy by 140.5% during the third quarter. Achmea Investment Management B.V. now owns 84,254 shares of the oil and gas development company’s stock valued at $2,389,000 after purchasing an additional 49,223 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Noble Energy by 4.4% during the third quarter. Legal & General Group Plc now owns 2,264,222 shares of the oil and gas development company’s stock valued at $64,212,000 after purchasing an additional 95,076 shares during the last quarter. Institutional investors and hedge funds own 94.32% of the company’s stock.
Several analysts have weighed in on the stock. Stifel Nicolaus set a $41.00 target price on shares of Noble Energy and gave the company a “buy” rating in a research note on Tuesday, November 28th. Scotiabank set a $35.00 target price on shares of Noble Energy and gave the company a “hold” rating in a research note on Saturday, November 25th. Piper Jaffray Companies reiterated a “buy” rating and set a $35.00 target price on shares of Noble Energy in a research note on Friday, November 17th. Barclays lowered their target price on shares of Noble Energy from $33.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, November 16th. Finally, Morgan Stanley boosted their target price on shares of Noble Energy from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Noble Energy currently has a consensus rating of “Buy” and an average target price of $40.43.
Shares of Noble Energy Inc. (NYSE NBL) traded down $0.21 on Wednesday, hitting $26.63. 4,079,100 shares of the stock traded hands, compared to its average volume of 5,138,074. Noble Energy Inc. has a 52 week low of $22.99 and a 52 week high of $42.03. The firm has a market capitalization of $13,060.54, a P/E ratio of 111.83 and a beta of 1.16. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.75.
Noble Energy (NYSE:NBL) last announced its quarterly earnings results on Monday, October 30th. The oil and gas development company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.11. Noble Energy had a negative net margin of 45.85% and a positive return on equity of 1.06%. The company had revenue of $960.00 million during the quarter, compared to the consensus estimate of $961.61 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. equities analysts expect that Noble Energy Inc. will post -0.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Monday, November 6th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Friday, November 3rd. Noble Energy’s payout ratio is currently -10.03%.
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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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