Noble Energy Inc. (NBL) Stake Decreased by Cooke & Bieler LP
Cooke & Bieler LP cut its stake in shares of Noble Energy Inc. (NYSE:NBL) by 99.5% during the second quarter, Holdings Channel reports. The institutional investor owned 5,930 shares of the oil and gas development company’s stock after selling 1,119,816 shares during the period. Cooke & Bieler LP’s holdings in Noble Energy were worth $213,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC increased its position in Noble Energy by 1.4% in the second quarter. Checchi Capital Advisers LLC now owns 3,592 shares of the oil and gas development company’s stock valued at $129,000 after buying an additional 49 shares in the last quarter. Bessemer Group Inc. bought a new position in Noble Energy during the first quarter valued at about $150,000. Meeder Asset Management Inc. bought a new position in Noble Energy during the first quarter valued at about $153,000. Creative Planning increased its position in Noble Energy by 34.7% in the second quarter. Creative Planning now owns 5,281 shares of the oil and gas development company’s stock valued at $189,000 after buying an additional 1,360 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. bought a new position in Noble Energy during the second quarter valued at about $201,000. Institutional investors own 93.83% of the company’s stock.
Noble Energy Inc. (NYSE:NBL) traded down 0.56% during midday trading on Friday, hitting $35.25. 2,611,133 shares of the stock traded hands. The company has a 50-day moving average of $34.98 and a 200-day moving average of $35.04. The stock’s market cap is $15.16 billion. Noble Energy Inc. has a 1-year low of $23.77 and a 1-year high of $39.85.
Noble Energy (NYSE:NBL) last announced its quarterly earnings data on Wednesday, August 3rd. The oil and gas development company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.05. Noble Energy had a negative net margin of 90.52% and a negative return on equity of 2.16%. The company earned $847 million during the quarter, compared to analysts’ expectations of $909.36 million. During the same quarter in the prior year, the company posted $0.26 EPS. The business’s revenue was up 14.8% on a year-over-year basis. On average, equities analysts expect that Noble Energy Inc. will post ($1.06) EPS for the current fiscal year.
Several brokerages have recently weighed in on NBL. Credit Agricole SA began coverage on shares of Noble Energy in a research note on Wednesday, June 22nd. They set an “outperform” rating for the company. Citigroup Inc. upgraded shares of Noble Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, July 7th. Barclays PLC reiterated a “buy” rating on shares of Noble Energy in a research note on Sunday, July 17th. Johnson Rice reiterated a “buy” rating and set a $21.00 target price (up previously from $19.00) on shares of Noble Energy in a research note on Thursday, September 15th. Finally, Mizuho began coverage on shares of Noble Energy in a research note on Friday. They set a “buy” rating and a $44.00 target price for the company. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-three have issued a buy rating to the company. Noble Energy presently has an average rating of “Buy” and a consensus price target of $40.23.
In related news, Director Jeffrey L. Berenson sold 10,000 shares of the stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $34.05, for a total transaction of $340,500.00. Following the completion of the sale, the director now owns 82,269 shares in the company, valued at approximately $2,801,259.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas J. Edelman sold 12,000 shares of the stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $33.62, for a total transaction of $403,440.00. Following the sale, the director now owns 3,032,978 shares of the company’s stock, valued at approximately $101,968,720.36. The disclosure for this sale can be found here. Corporate insiders own 2.17% of the company’s stock.
About Noble Energy
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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