Gamco Investors INC. ET AL reduced its stake in Noble Energy, Inc. (NYSE:NBL) by 4.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 45,000 shares of the oil and gas development company’s stock after selling 2,000 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Noble Energy were worth $1,588,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of NBL. Artisan Partners Limited Partnership boosted its holdings in shares of Noble Energy by 95.1% in the 1st 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 buying an additional 7,730,137 shares during the last quarter. Boston Partners bought a new stake in Noble Energy in the 2nd quarter valued at about $102,102,000. FMR LLC raised its stake in Noble Energy by 56.8% in the 2nd quarter. FMR LLC now owns 7,170,389 shares of the oil and gas development company’s stock valued at $252,972,000 after acquiring an additional 2,597,747 shares during the period. Ceredex Value Advisors LLC bought a new stake in Noble Energy in the 1st quarter valued at about $65,880,000. Finally, Millennium Management LLC bought a new stake in Noble Energy in the 1st quarter valued at about $46,186,000. 97.64% of the stock is currently owned by institutional investors.
In other news, major shareholder Nbl Midstream, Llc sold 7,475,000 shares of the business’s stock in a transaction dated Friday, June 29th. The stock was sold at an average price of $18.03, for a total transaction of $134,774,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gary W. Willingham sold 24,646 shares of the business’s stock in a transaction dated Tuesday, July 10th. The stock was sold at an average price of $37.50, for a total value of $924,225.00. Following the transaction, the vice president now directly owns 194,640 shares of the company’s stock, valued at approximately $7,299,000. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company’s stock.
Shares of NBL opened at $29.83 on Thursday. Noble Energy, Inc. has a twelve month low of $24.28 and a twelve month high of $37.76. The stock has a market cap of $14.36 billion, a PE ratio of 42.46, a P/E/G ratio of 2.95 and a beta of 1.01. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.58.
Noble Energy (NYSE:NBL) last announced its quarterly earnings results on Friday, August 3rd. The oil and gas development company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.05). Noble Energy had a net margin of 19.01% and a return on equity of 2.89%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the company earned $0.05 earnings per share. The company’s quarterly revenue was up 16.1% on a year-over-year basis. sell-side analysts predict that Noble Energy, Inc. will post 1.01 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 20th. Stockholders of record on Monday, August 6th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Friday, August 3rd. Noble Energy’s dividend payout ratio is presently 141.94%.
NBL has been the topic of a number of research reports. KLR Group restated a “buy” rating and issued a $61.00 price objective on shares of Noble Energy in a research note on Monday, August 20th. Stifel Nicolaus set a $40.00 price objective on Noble Energy and gave the company a “buy” rating in a research note on Friday, August 3rd. Tudor Pickering cut Noble Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 8th. Morgan Stanley initiated coverage on Noble Energy in a research note on Thursday, July 12th. They issued an “equal weight” rating and a $39.00 price objective on the stock. Finally, Bank of America initiated coverage on Noble Energy in a research note on Tuesday, July 10th. They issued a “buy” rating and a $59.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $41.75.
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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