Noble Energy Inc. (NBL) Shares Sold by Tocqueville Asset Management L.P.
Tocqueville Asset Management L.P. cut its position in shares of Noble Energy Inc. (NYSE:NBL) by 0.0% during the second quarter, Holdings Channel reports. The institutional investor owned 600,425 shares of the oil and gas development company’s stock after selling 275 shares during the period. Tocqueville Asset Management L.P.’s holdings in Noble Energy were worth $21,537,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in NBL. Geode Capital Management LLC boosted its position in Noble Energy by 2.7% in the first quarter. Geode Capital Management LLC now owns 3,493,380 shares of the oil and gas development company’s stock worth $109,506,000 after buying an additional 91,877 shares in the last quarter. Cleararc Capital Inc. boosted its stake in shares of Noble Energy by 0.4% in the first quarter. Cleararc Capital Inc. now owns 10,453 shares of the oil and gas development company’s stock valued at $328,000 after buying an additional 39 shares in the last quarter. AXA boosted its stake in shares of Noble Energy by 3.4% in the first quarter. AXA now owns 228,124 shares of the oil and gas development company’s stock valued at $7,165,000 after buying an additional 7,473 shares in the last quarter. Pictet Asset Management Ltd. boosted its stake in shares of Noble Energy by 2.1% in the first quarter. Pictet Asset Management Ltd. now owns 226,139 shares of the oil and gas development company’s stock valued at $6,671,000 after buying an additional 4,700 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Noble Energy during the first quarter valued at $153,000. 93.82% of the stock is owned by institutional investors and hedge funds.
Noble Energy Inc. (NYSE:NBL) traded down 0.45% on Tuesday, reaching $35.11. The company’s stock had a trading volume of 1,113,557 shares. The firm’s market cap is $15.10 billion. The firm has a 50 day moving average of $34.96 and a 200 day moving average of $35.17. Noble Energy Inc. has a 12 month low of $23.77 and a 12 month high of $39.85.
Noble Energy (NYSE:NBL) last announced its earnings results on Wednesday, August 3rd. The oil and gas development company reported ($0.24) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.05. The company had revenue of $847 million for the quarter, compared to analysts’ expectations of $909.36 million. Noble Energy had a negative return on equity of 2.16% and a negative net margin of 90.52%. Noble Energy’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.26 earnings per share. Analysts anticipate that Noble Energy Inc. will post ($1.06) earnings per share for the current year.
Several brokerages have weighed in on NBL. JPMorgan Chase & Co. reissued a “buy” rating on shares of Noble Energy in a report on Monday, July 18th. Credit Agricole SA began coverage on Noble Energy in a report on Wednesday, June 22nd. They set an “outperform” rating for the company. Barclays PLC reissued a “buy” rating on shares of Noble Energy in a report on Sunday, July 17th. Citigroup Inc. raised Noble Energy from a “neutral” rating to a “buy” rating in a report on Thursday, July 7th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of Noble Energy in a report on Sunday, July 10th. 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 a consensus rating of “Buy” and a consensus target price of $40.23.
In related news, Director Jeffrey L. Berenson sold 10,000 shares of Noble Energy stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $34.05, for a total transaction of $340,500.00. Following the transaction, the director now owns 82,269 shares of the company’s stock, valued at $2,801,259.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas J. Edelman sold 12,000 shares of Noble Energy stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $33.62, for a total value of $403,440.00. Following the transaction, the director now directly owns 3,032,978 shares in the company, 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.
Noble Energy Company Profile
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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