BlackRock Inc. Purchases 2,211,439 Shares of Noble Energy Inc. (NBL)
BlackRock Inc. increased its position in Noble Energy Inc. (NYSE:NBL) by 7.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,231,480 shares of the oil and gas development company’s stock after purchasing an additional 2,211,439 shares during the period. BlackRock Inc. owned approximately 6.62% of Noble Energy worth $912,152,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp lifted its holdings in shares of Noble Energy by 5.5% in the 1st quarter. Fifth Third Bancorp now owns 2,913 shares of the oil and gas development company’s stock worth $100,000 after purchasing an additional 153 shares in the last quarter. Harbour Capital Advisors LLC bought a new position in shares of Noble Energy in the 1st quarter worth $136,000. Global X Management Co. LLC lifted its holdings in shares of Noble Energy by 30.1% in the 1st quarter. Global X Management Co. LLC now owns 5,702 shares of the oil and gas development company’s stock worth $196,000 after purchasing an additional 1,319 shares in the last quarter. Highbridge Capital Management LLC bought a new position in shares of Noble Energy in the 1st quarter worth $201,000. Finally, Blair William & Co. IL lifted its stake in Noble Energy by 9.7% during the 1st quarter. Blair William & Co. IL now owns 5,913 shares of the oil and gas development company’s stock valued at $206,000 after acquiring an additional 524 shares in the last quarter. Institutional investors own 91.68% of the company’s stock.
Several brokerages have weighed in on NBL. Bank of America Corporation began coverage on Noble Energy in a research note on Tuesday, May 23rd. They set a “buy” rating and a $49.00 price objective on the stock. Stifel Nicolaus restated a “buy” rating and set a $43.00 price objective on shares of Noble Energy in a research note on Friday, May 26th. ValuEngine cut Noble Energy from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Barclays PLC raised their price objective on Noble Energy from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, August 7th. Finally, Jefferies Group LLC restated a “buy” rating and set a $32.00 price objective (down from $36.00) on shares of Noble Energy in a research note on Tuesday, August 29th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $41.36.
Shares of Noble Energy Inc. (NYSE:NBL) opened at 26.09 on Tuesday. Noble Energy Inc. has a one year low of $22.99 and a one year high of $42.03. The stock’s market cap is $12.31 billion. The company has a 50-day moving average price of $24.94 and a 200 day moving average price of $29.66.
Noble Energy (NYSE:NBL) last posted its earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.18. Noble Energy had a positive return on equity of 0.86% and a negative net margin of 46.63%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the company earned ($0.24) earnings per share. Noble Energy’s revenue was up 25.0% on a year-over-year basis. Equities research analysts expect that Noble Energy Inc. will post ($0.15) earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Monday, August 7th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Thursday, August 3rd. Noble Energy’s dividend payout ratio is -9.90%.
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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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