Noble Energy Inc. (NBL) Position Decreased by Ameriprise Financial Inc.
Ameriprise Financial Inc. reduced its stake in shares of Noble Energy Inc. (NYSE:NBL) by 25.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,466,793 shares of the oil and gas development company’s stock after selling 831,713 shares during the quarter. Ameriprise Financial Inc. owned about 0.51% of Noble Energy worth $69,957,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of NBL. Thompson Investment Management Inc. grew its holdings in Noble Energy by 16.8% during the third quarter. Thompson Investment Management Inc. now owns 132,846 shares of the oil and gas development company’s stock worth $3,768,000 after acquiring an additional 19,146 shares during the period. Putnam FL Investment Management Co. acquired a new position in Noble Energy during the third quarter worth about $4,069,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Noble Energy by 56.8% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 100,968 shares of the oil and gas development company’s stock worth $2,863,000 after acquiring an additional 36,589 shares during the period. Comerica Bank grew its holdings in Noble Energy by 8.4% during the third quarter. Comerica Bank now owns 150,100 shares of the oil and gas development company’s stock worth $4,243,000 after acquiring an additional 11,606 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Noble Energy by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 3,665,721 shares of the oil and gas development company’s stock worth $103,961,000 after acquiring an additional 31,552 shares during the period. Institutional investors and hedge funds own 94.33% of the company’s stock.
Shares of Noble Energy Inc. (NYSE:NBL) traded up $0.31 on Wednesday, reaching $25.85. The company had a trading volume of 3,209,200 shares, compared to its average volume of 5,156,995. The stock has a market cap of $12,580.00, a PE ratio of 108.29 and a beta of 1.18. Noble Energy Inc. has a 1 year low of $22.99 and a 1 year high of $42.03. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.95 and a quick ratio of 0.95.
Noble Energy (NYSE:NBL) last issued its quarterly earnings results on Monday, October 30th. The oil and gas development company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.11. The firm had revenue of $960.00 million for the quarter, compared to analysts’ expectations of $961.61 million. Noble Energy had a positive return on equity of 1.06% and a negative net margin of 45.85%. Noble Energy’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.07) EPS. equities analysts anticipate that Noble Energy Inc. will post -0.05 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, November 6th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.40 annualized dividend and a yield of 1.55%. Noble Energy’s dividend payout ratio (DPR) is presently -10.03%.
In other Noble Energy news, Director Thomas J. Edelman sold 300,000 shares of Noble Energy stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $27.83, for a total transaction of $8,349,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James E. Craddock sold 18,787 shares of Noble Energy stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $28.57, for a total value of $536,744.59. Following the transaction, the director now directly owns 114,226 shares in the company, valued at approximately $3,263,436.82. The disclosure for this sale can be found here. Insiders own 2.28% of the company’s stock.
A number of research analysts recently issued reports on NBL shares. Jefferies Group reaffirmed a “buy” rating and set a $32.00 target price (down from $36.00) on shares of Noble Energy in a report on Tuesday, August 29th. Stifel Nicolaus set a $39.00 target price on Noble Energy and gave the stock a “buy” rating in a report on Thursday, October 5th. BMO Capital Markets set a $37.00 target price on Noble Energy and gave the stock a “buy” rating in a report on Thursday, August 3rd. Barclays lifted their target price on Noble Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Wednesday, October 11th. Finally, Scotiabank set a $38.00 target price on Noble Energy and gave the stock a “hold” rating in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $40.60.
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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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