Montgomery Investment Management Inc. purchased a new position in shares of Noble Energy, Inc. (NYSE:NBL) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,339 shares of the oil and gas development company’s stock, valued at approximately $223,000.
Several other large investors also recently made changes to their positions in the company. Park National Corp OH bought a new stake in shares of Noble Energy in the second quarter worth $2,455,000. James Investment Research Inc. bought a new stake in shares of Noble Energy in the second quarter worth $2,101,000. Artisan Partners Limited Partnership grew its stake in shares of Noble Energy by 95.1% in the first quarter. Artisan Partners Limited Partnership now owns 15,854,643 shares of the oil and gas development company’s stock worth $480,396,000 after purchasing an additional 7,730,137 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Noble Energy by 10.0% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 247,889 shares of the oil and gas development company’s stock worth $7,511,000 after purchasing an additional 22,556 shares during the last quarter. Finally, Adams Natural Resources Fund Inc. grew its stake in shares of Noble Energy by 257.8% in the second quarter. Adams Natural Resources Fund Inc. now owns 190,700 shares of the oil and gas development company’s stock worth $6,728,000 after purchasing an additional 137,400 shares during the last quarter. Institutional investors own 99.48% of the company’s stock.
Several brokerages recently weighed in on NBL. Morgan Stanley reduced their price objective on shares of Noble Energy from $39.00 to $36.00 and set a “hold” rating on the stock in a research note on Thursday. Citigroup reduced their price objective on shares of Noble Energy from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday, August 13th. Jefferies Financial Group set a $46.00 price objective on shares of Noble Energy and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Mizuho cut shares of Noble Energy from a “buy” rating to a “neutral” rating and set a $40.00 price objective on the stock. in a research note on Monday, August 6th. Finally, TD Securities set a $43.00 price objective on shares of Noble Energy and gave the stock a “buy” rating in a research note on Sunday, August 5th. Nine equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $41.79.
Shares of NBL opened at $28.77 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.58. The firm has a market cap of $14.77 billion, a price-to-earnings ratio of 92.81, a PEG ratio of 2.87 and a beta of 1.07. Noble Energy, Inc. has a 12 month low of $22.99 and a 12 month high of $37.76.
Noble Energy (NYSE:NBL) last issued its quarterly earnings results on Friday, August 3rd. The oil and gas development company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.05). The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.15 billion. Noble Energy had a net margin of 19.01% and a return on equity of 2.89%. The business’s revenue was up 16.1% compared to the same quarter last year. During the same period last year, the company posted $0.05 EPS. sell-side analysts predict that Noble Energy, Inc. will post 1.06 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 20th. Stockholders of record on Monday, August 6th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, August 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.53%. Noble Energy’s dividend payout ratio (DPR) is presently 141.94%.
In other news, major shareholder Nbl Midstream, Llc sold 7,475,000 shares of the stock in a transaction dated Friday, June 29th. The shares were sold at an average price of $18.03, for a total transaction of $134,774,250.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Andrea Lee Robison sold 8,760 shares of the stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $37.00, for a total transaction of $324,120.00. Following the transaction, the vice president now directly owns 100,918 shares in the company, valued at approximately $3,733,966. The disclosure for this sale can be found here. Insiders have sold a total of 7,508,406 shares of company stock worth $136,022,595 in the last three months. Insiders own 1.96% of the company’s stock.
Noble Energy Profile
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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