Ashburton Jersey Ltd decreased its stake in Noble Energy (NYSE:NBL) by 37.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,700 shares of the oil and gas development company’s stock after selling 24,500 shares during the quarter. Ashburton Jersey Ltd’s holdings in Noble Energy were worth $1,215,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. OLD Mutual Customised Solutions Proprietary Ltd. lifted its position in Noble Energy by 45.7% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 28,702 shares of the oil and gas development company’s stock worth $836,000 after buying an additional 9,000 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its holdings in shares of Noble Energy by 17.3% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 275,700 shares of the oil and gas development company’s stock valued at $8,034,000 after purchasing an additional 40,700 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in shares of Noble Energy during the 4th quarter valued at $4,387,000. Gotham Asset Management LLC raised its holdings in shares of Noble Energy by 169.9% during the 4th quarter. Gotham Asset Management LLC now owns 57,645 shares of the oil and gas development company’s stock valued at $1,680,000 after purchasing an additional 36,289 shares in the last quarter. Finally, Macquarie Group Ltd. raised its holdings in shares of Noble Energy by 4.3% during the 4th quarter. Macquarie Group Ltd. now owns 224,539 shares of the oil and gas development company’s stock valued at $6,461,000 after purchasing an additional 9,300 shares in the last quarter. Institutional investors own 95.64% of the company’s stock.
NYSE NBL traded up $0.07 during midday trading on Thursday, hitting $31.50. The company had a trading volume of 2,686,235 shares, compared to its average volume of 5,245,806. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a market capitalization of $15,326.86, a price-to-earnings ratio of 101.61 and a beta of 1.04. Noble Energy has a fifty-two week low of $22.99 and a fifty-two week high of $35.52.
Noble Energy (NYSE:NBL) last posted its quarterly earnings results on Tuesday, February 20th. The oil and gas development company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.28. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.18 billion. Noble Energy had a negative net margin of 26.27% and a positive return on equity of 1.46%. The business’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period last year, the business posted $0.26 EPS. sell-side analysts expect that Noble Energy will post 0.91 earnings per share for the current fiscal year.
Noble Energy announced that its Board of Directors has authorized a stock repurchase plan on Thursday, February 15th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the oil and gas development company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
In other Noble Energy news, Director James E. Craddock sold 8,500 shares of the firm’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $31.35, for a total value of $266,475.00. Following the sale, the director now directly owns 93,413 shares in the company, valued at approximately $2,928,497.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kenneth M. Fisher sold 7,621 shares of Noble Energy stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $28.80, for a total transaction of $219,484.80. Following the sale, the chief financial officer now owns 197,144 shares in the company, valued at $5,677,747.20. The disclosure for this sale can be found here. Company insiders own 1.96% of the company’s stock.
A number of research analysts have recently weighed in on the stock. Capital One Financial upgraded shares of Noble Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, January 10th. ValuEngine downgraded shares of Noble Energy from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Deutsche Bank set a $40.00 price target on shares of Noble Energy and gave the company a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada set a $37.00 price target on shares of Noble Energy and gave the company a “buy” rating in a report on Friday, February 23rd. Finally, Stifel Nicolaus set a $45.00 price target on shares of Noble Energy and gave the company a “buy” rating in a report on Wednesday, March 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twenty-one have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $40.81.
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About Noble Energy
Noble Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids worldwide. It owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins. It principal projects are primarily located in the US unconventional basins and various global offshore conventional basins.
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