Nippon Life Global Investors Americas Inc. Acquires New Position in Noble Energy (NBL)

Nippon Life Global Investors Americas Inc. bought a new stake in Noble Energy (NYSE:NBL) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 27,320 shares of the oil and gas development company’s stock, valued at approximately $828,000.

Several other institutional investors have also recently bought and sold shares of NBL. Ceredex Value Advisors LLC acquired a new position in shares of Noble Energy in the first quarter valued at approximately $65,880,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Noble Energy in the fourth quarter valued at approximately $29,414,000. Alliancebernstein L.P. grew its position in shares of Noble Energy by 22.4% in the fourth quarter. Alliancebernstein L.P. now owns 3,984,847 shares of the oil and gas development company’s stock valued at $116,118,000 after purchasing an additional 728,937 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Noble Energy by 16.2% in the fourth quarter. Bank of New York Mellon Corp now owns 4,258,901 shares of the oil and gas development company’s stock valued at $124,105,000 after purchasing an additional 593,180 shares during the last quarter. Finally, Oslo Asset Management AS grew its position in shares of Noble Energy by 523.9% in the fourth quarter. Oslo Asset Management AS now owns 666,173 shares of the oil and gas development company’s stock valued at $19,412,000 after purchasing an additional 559,400 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors.

NBL has been the topic of several research reports. Morgan Stanley upped their target price on Noble Energy from $36.00 to $39.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Bank of America upped their target price on Noble Energy from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, February 26th. KLR Group upped their target price on Noble Energy from $9.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Wolfe Research downgraded Noble Energy from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 30th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $40.00 target price on shares of Noble Energy in a research report on Wednesday, April 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-two have given a buy rating to the company. Noble Energy currently has an average rating of “Buy” and a consensus target price of $41.09.

In other Noble Energy news, VP Andrea Lee Robison sold 8,760 shares of the firm’s stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $35.00, for a total value of $306,600.00. Following the sale, the vice president now owns 100,918 shares of the company’s stock, valued at approximately $3,532,130. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the director now directly owns 93,413 shares in the company, valued at approximately $2,928,497.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,020 shares of company stock worth $1,096,815. Company insiders own 1.96% of the company’s stock.

Shares of NBL stock opened at $36.85 on Thursday. The firm has a market capitalization of $17.83 billion, a price-to-earnings ratio of 118.87 and a beta of 1.02. Noble Energy has a fifty-two week low of $22.99 and a fifty-two week high of $37.67. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17.

Noble Energy (NYSE:NBL) last issued its earnings results on Tuesday, May 1st. The oil and gas development company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.07. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.22 billion. Noble Energy had a positive return on equity of 3.25% and a negative net margin of 13.32%. The company’s revenue was up 24.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.05) EPS. analysts forecast that Noble Energy will post 1.11 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 21st. Shareholders of record on Monday, May 7th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Friday, May 4th. This is an increase from Noble Energy’s previous quarterly dividend of $0.10. Noble Energy’s dividend payout ratio (DPR) is currently 141.94%.

Noble Energy announced that its Board of Directors has authorized a share buyback plan on Thursday, February 15th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the oil and gas development company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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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Institutional Ownership by Quarter for Noble Energy (NYSE:NBL)

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