Swiss National Bank Sells 222,900 Shares of Noble Energy (NBL)
Swiss National Bank lowered its stake in Noble Energy (NYSE:NBL) by 13.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,483,081 shares of the oil and gas development company’s stock after selling 222,900 shares during the quarter. Swiss National Bank owned about 0.30% of Noble Energy worth $44,937,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of NBL. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Noble Energy in the fourth quarter valued at about $29,414,000. Alliancebernstein L.P. grew its stake in shares of Noble Energy by 22.4% in the fourth quarter. Alliancebernstein L.P. now owns 3,984,847 shares of the oil and gas development company’s stock valued at $116,118,000 after buying an additional 728,937 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Noble Energy by 16.2% in the fourth quarter. Bank of New York Mellon Corp now owns 4,258,901 shares of the oil and gas development company’s stock valued at $124,105,000 after purchasing an additional 593,180 shares during the last quarter. Oslo Asset Management AS boosted its holdings in Noble Energy by 523.9% in the fourth quarter. Oslo Asset Management AS now owns 666,173 shares of the oil and gas development company’s stock valued at $19,412,000 after purchasing an additional 559,400 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Noble Energy in the fourth quarter valued at about $14,187,000. Institutional investors and hedge funds own 96.57% of the company’s stock.
In related news, VP J. Keith Elliott sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $33.27, for a total value of $199,620.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Andrea Lee Robison sold 8,760 shares of the firm’s stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $35.00, for a total value of $306,600.00. Following the completion of the sale, the vice president now directly owns 100,918 shares in the company, valued at approximately $3,532,130. The disclosure for this sale can be found here. In the last three months, insiders sold 23,260 shares of company stock worth $772,695. Company insiders own 1.96% of the company’s stock.
Noble Energy (NYSE:NBL) last announced its quarterly earnings results on Tuesday, May 1st. The oil and gas development company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.07. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.22 billion. Noble Energy had a positive return on equity of 3.25% and a negative net margin of 13.32%. The business’s revenue was up 24.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) EPS. research analysts forecast that Noble Energy will post 1.11 earnings per share for the current fiscal year.
Noble Energy announced that its board has approved a stock repurchase plan on Thursday, February 15th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the oil and gas development company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, May 21st. Investors of record on Monday, May 7th will be issued a $0.11 dividend. This is an increase from Noble Energy’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, May 4th. This represents a $0.44 annualized dividend and a dividend yield of 1.25%. Noble Energy’s dividend payout ratio (DPR) is 141.94%.
A number of brokerages recently commented on NBL. Deutsche Bank set a $40.00 price target on Noble Energy and gave the company a “buy” rating in a report on Wednesday, February 21st. ValuEngine downgraded Noble Energy from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Royal Bank of Canada set a $37.00 price target on Noble Energy and gave the company a “buy” rating in a report on Friday, February 23rd. Stifel Nicolaus set a $45.00 price target on Noble Energy and gave the company a “buy” rating in a report on Wednesday, March 28th. Finally, Jefferies Group reissued a “buy” rating and issued a $41.00 price target on shares of Noble Energy in a report on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $40.86.
Noble Energy Company Profile
Noble Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids worldwide. It owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins. It principal projects are primarily located in the US unconventional basins and various global offshore conventional basins.
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