Noble Energy Inc. (NYSE:NBL) Position Boosted by Granite Investment Advisors LLC
Granite Investment Advisors LLC boosted its position in shares of Noble Energy Inc. (NYSE:NBL) by 14.6% during the second quarter, Holdings Channel reports. The firm owned 7,850 shares of the oil and gas development company’s stock after buying an additional 1,000 shares during the period. Granite Investment Advisors LLC’s holdings in Noble Energy were worth $228,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp raised its position in Noble Energy by 5.5% in the first quarter. Fifth Third Bancorp now owns 2,913 shares of the oil and gas development company’s stock worth $100,000 after buying an additional 153 shares during the period. Private Advisor Group LLC purchased a new position in Noble Energy during the first quarter worth approximately $132,000. Harbour Capital Advisors LLC purchased a new position in Noble Energy during the first quarter worth approximately $136,000. Global X Management Co. LLC raised its position in Noble Energy by 30.1% in the first quarter. Global X Management Co. LLC now owns 5,702 shares of the oil and gas development company’s stock worth $196,000 after buying an additional 1,319 shares during the period. Finally, Highbridge Capital Management LLC purchased a new position in Noble Energy during the first quarter worth approximately $201,000. Hedge funds and other institutional investors own 96.94% of the company’s stock.
Noble Energy Inc. (NYSE:NBL) opened at 24.65 on Friday. Noble Energy Inc. has a one year low of $24.63 and a one year high of $42.03. The firm’s market cap is $11.63 billion. The company’s 50-day moving average is $27.74 and its 200-day moving average is $32.28.
Noble Energy (NYSE:NBL) last issued its quarterly earnings data on Thursday, August 3rd. The oil and gas development company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.18. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Noble Energy had a negative net margin of 46.63% and a positive return on equity of 0.86%. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.24) EPS. On average, analysts forecast that Noble Energy Inc. will post ($0.14) earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, August 7th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 1.62%. Noble Energy’s dividend payout ratio (DPR) is presently -9.90%.
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A number of equities analysts have commented on the stock. Bank of America Corporation assumed coverage on shares of Noble Energy in a research report on Tuesday, May 23rd. They issued a “buy” rating and a $49.00 price target on the stock. Stifel Nicolaus restated a “buy” rating and issued a $43.00 price target on shares of Noble Energy in a research report on Friday, May 26th. ValuEngine lowered shares of Noble Energy from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Barclays PLC boosted their price target on shares of Noble Energy from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday, August 7th. Finally, Scotiabank restated a “hold” rating and issued a $38.00 price target on shares of Noble Energy in a research report on Wednesday, May 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $41.48.
Noble Energy Company 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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