Noble Energy Inc. (NBL) Trading Up 3.8%
Noble Energy Inc. (NYSE:NBL) shares were up 3.8% on Thursday . The company traded as high as $35.22 and last traded at $35.14, with a volume of 1,783,848 shares changing hands. The stock had previously closed at $33.85.
A number of research analysts recently weighed in on NBL shares. Credit Suisse Group AG reiterated a “buy” rating on shares of Noble Energy in a report on Thursday, June 2nd. JPMorgan Chase & Co. reissued a “buy” rating on shares of Noble Energy in a research report on Monday, July 18th. Nomura reissued a “buy” rating and issued a $41.00 price objective (up from $36.00) on shares of Noble Energy in a research report on Tuesday, May 24th. Deutsche Bank AG reissued a “buy” rating on shares of Noble Energy in a research report on Sunday, July 10th. Finally, Bank of America Corp. reissued a “hold” rating and issued a $45.00 price objective on shares of Noble Energy in a research report on Wednesday, May 4th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-one have assigned a buy rating to the stock. Noble Energy presently has an average rating of “Buy” and an average price target of $42.39.
The stock’s market capitalization is $15.13 billion. The firm has a 50 day moving average price of $35.30 and a 200-day moving average price of $33.81.
Noble Energy (NYSE:NBL) last announced its quarterly earnings data on Wednesday, August 3rd. The oil and gas development company reported ($0.24) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.05. The company had revenue of $847 million for the quarter, compared to analyst estimates of $909.36 million. During the same period in the prior year, the company posted $0.26 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. Analysts predict that Noble Energy Inc. will post ($1.06) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 22nd. Stockholders of record on Monday, August 8th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Thursday, August 4th.
In other news, Director Thomas J. Edelman sold 12,000 shares of the company’s stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $35.09, for a total transaction of $421,080.00. Following the completion of the transaction, the director now owns 3,032,978 shares of the company’s stock, valued at $106,427,198.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several hedge funds and institutional investors recently made changes to their positions in the stock. Advantus Capital Management Inc raised its position in shares of Noble Energy by 2.4% in the fourth quarter. Advantus Capital Management Inc now owns 40,695 shares of the oil and gas development company’s stock worth $1,340,000 after buying an additional 956 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in Noble Energy by 5.8% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 56,838 shares of the oil and gas development company’s stock valued at $1,872,000 after buying an additional 3,119 shares during the period. Suntrust Banks Inc. raised its position in Noble Energy by 2.4% in the fourth quarter. Suntrust Banks Inc. now owns 67,022 shares of the oil and gas development company’s stock valued at $2,207,000 after buying an additional 1,597 shares during the period. Victory Capital Management Inc. raised its position in Noble Energy by 10.0% in the fourth quarter. Victory Capital Management Inc. now owns 90,524 shares of the oil and gas development company’s stock valued at $2,981,000 after buying an additional 8,264 shares during the period. Finally, KBC Group NV raised its position in Noble Energy by 16.1% in the fourth quarter. KBC Group NV now owns 109,931 shares of the oil and gas development company’s stock valued at $3,620,000 after buying an additional 15,255 shares during the period.
Noble Energy, Inc is an independent energy company engaged in crude oil, natural gas and natural gas liquids (NGLs) exploration and production. The Company’s portfolio is diversified between short-term and long-term projects, domestic and international and a balanced production mix among crude oil, natural gas and NGLs.
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