Noble Energy Inc. (NBL) Position Reduced by Axa
Axa lessened its stake in Noble Energy Inc. (NYSE:NBL) by 1.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 390,157 shares of the oil and gas development company’s stock after selling 7,238 shares during the quarter. Axa owned about 0.08% of Noble Energy worth $11,042,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. South Dakota Investment Council increased its holdings in Noble Energy by 1.0% in the second quarter. South Dakota Investment Council now owns 783,998 shares of the oil and gas development company’s stock valued at $22,187,000 after purchasing an additional 7,400 shares during the last quarter. Systematic Financial Management LP grew its stake in Noble Energy by 679.3% in the second quarter. Systematic Financial Management LP now owns 75,594 shares of the oil and gas development company’s stock valued at $2,139,000 after acquiring an additional 65,894 shares during the period. Franklin Resources Inc. grew its stake in Noble Energy by 4.2% in the second quarter. Franklin Resources Inc. now owns 2,020,313 shares of the oil and gas development company’s stock valued at $57,175,000 after acquiring an additional 80,780 shares during the period. Tredje AP fonden grew its stake in Noble Energy by 51.1% in the second quarter. Tredje AP fonden now owns 78,515 shares of the oil and gas development company’s stock valued at $2,222,000 after acquiring an additional 26,560 shares during the period. Finally, Schroder Investment Management Group grew its stake in Noble Energy by 43.2% in the second quarter. Schroder Investment Management Group now owns 747,739 shares of the oil and gas development company’s stock valued at $21,423,000 after acquiring an additional 225,450 shares during the period. Institutional investors and hedge funds own 91.83% of the company’s stock.
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NBL has been the subject of a number of research analyst reports. BidaskClub raised Noble Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Cowen and Company set a $35.00 target price on Noble Energy and gave the company a “buy” rating in a research note on Tuesday, July 18th. Scotiabank set a $38.00 target price on Noble Energy and gave the company a “hold” rating in a research note on Thursday, August 3rd. Seaport Global Securities raised Noble Energy from a “sell” rating to a “neutral” rating and boosted their target price for the company from $23.00 to $26.00 in a research note on Friday, August 11th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $50.00 target price on shares of Noble Energy in a research note on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $41.11.
Noble Energy Inc. (NYSE:NBL) opened at 25.11 on Wednesday. The firm’s market capitalization is $11.85 billion. Noble Energy Inc. has a 12 month low of $22.99 and a 12 month high of $42.03. The company’s 50-day moving average price is $25.36 and its 200 day moving average price is $30.06.
Noble Energy (NYSE:NBL) last released its quarterly earnings results 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 the consensus estimate of $1.05 billion. Noble Energy had a positive return on equity of 0.86% and a negative net margin of 46.63%. The company’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.24) EPS. On average, equities research analysts predict that Noble Energy Inc. will post ($0.14) earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Monday, August 7th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, August 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 1.59%. Noble Energy’s dividend payout ratio (DPR) is currently -9.90%.
About Noble Energy
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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