Noble Energy Inc. (NBL) Stake Lowered by Sterling Capital Management LLC
Sterling Capital Management LLC reduced its holdings in Noble Energy Inc. (NYSE:NBL) by 18.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,133 shares of the oil and gas development company’s stock after selling 12,200 shares during the quarter. Sterling Capital Management LLC’s holdings in Noble Energy were worth $1,504,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Capital World Investors lifted its holdings in shares of Noble Energy by 20.8% in the 2nd quarter. Capital World Investors now owns 55,184,801 shares of the oil and gas development company’s stock valued at $1,561,730,000 after buying an additional 9,488,951 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Noble Energy by 29.8% in the 2nd quarter. Vanguard Group Inc. now owns 38,933,217 shares of the oil and gas development company’s stock valued at $1,101,810,000 after buying an additional 8,933,476 shares during the period. BlackRock Inc. lifted its holdings in shares of Noble Energy by 7.4% in the 2nd quarter. BlackRock Inc. now owns 32,231,480 shares of the oil and gas development company’s stock valued at $912,152,000 after buying an additional 2,211,439 shares during the period. State Street Corp lifted its holdings in shares of Noble Energy by 5.7% in the 2nd quarter. State Street Corp now owns 27,225,558 shares of the oil and gas development company’s stock valued at $770,487,000 after buying an additional 1,471,064 shares during the period. Finally, Ares Management LLC acquired a new stake in shares of Noble Energy in the 2nd quarter valued at approximately $499,364,000. 91.63% of the stock is owned by institutional investors and hedge funds.
Shares of Noble Energy Inc. (NYSE NBL) opened at 27.37 on Friday. The stock’s market cap is $12.92 billion. The stock has a 50 day moving average price of $26.86 and a 200-day moving average price of $28.66. Noble Energy Inc. has a 12 month low of $22.99 and a 12 month high of $42.03.
Noble Energy (NYSE:NBL) last announced its earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.18. Noble Energy had a negative net margin of 46.63% and a positive return on equity of 0.86%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the business earned ($0.24) EPS. The company’s revenue was up 25.0% on a year-over-year basis. On average, analysts forecast that Noble Energy Inc. will post ($0.14) EPS for the current fiscal year.
Several analysts have recently commented on NBL shares. Royal Bank Of Canada reissued a “buy” rating and issued a $38.00 price target on shares of Noble Energy in a report on Thursday, July 20th. Scotiabank set a $38.00 price target on Noble Energy and gave the company a “hold” rating in a report on Thursday, August 3rd. Citigroup Inc. reduced their price target on Noble Energy from $45.00 to $38.00 and set a “buy” rating for the company in a report on Friday, July 21st. BidaskClub cut Noble Energy from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Finally, Cowen and Company set a $35.00 price target on Noble Energy and gave the company a “buy” rating in a report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $40.76.
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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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