State Board of Administration of Florida Retirement System increased its stake in shares of Noble Energy, Inc. (NYSE:NBL) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 693,897 shares of the oil and gas development company’s stock after purchasing an additional 3,342 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Noble Energy were worth $17,160,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of NBL. BlackRock Inc. lifted its holdings in Noble Energy by 0.8% in the fourth quarter. BlackRock Inc. now owns 33,195,707 shares of the oil and gas development company’s stock valued at $622,749,000 after acquiring an additional 256,526 shares during the period. Boston Partners lifted its holdings in Noble Energy by 53.6% in the first quarter. Boston Partners now owns 22,144,841 shares of the oil and gas development company’s stock valued at $547,642,000 after acquiring an additional 7,725,241 shares during the period. FMR LLC lifted its holdings in Noble Energy by 15.7% in the fourth quarter. FMR LLC now owns 18,352,750 shares of the oil and gas development company’s stock valued at $344,298,000 after acquiring an additional 2,491,587 shares during the period. American Century Companies Inc. lifted its holdings in Noble Energy by 7.7% in the fourth quarter. American Century Companies Inc. now owns 9,609,157 shares of the oil and gas development company’s stock valued at $180,268,000 after acquiring an additional 686,182 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Noble Energy by 9.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,173,152 shares of the oil and gas development company’s stock valued at $115,802,000 after acquiring an additional 528,212 shares during the period. 98.57% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on NBL shares. Barclays raised Noble Energy from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $26.00 to $33.00 in a report on Tuesday, April 30th. UBS Group set a $34.00 target price on Noble Energy and gave the company a “buy” rating in a report on Wednesday, February 20th. TD Securities reduced their target price on Noble Energy from $33.00 to $32.00 and set a “buy” rating for the company in a report on Monday, May 6th. Morgan Stanley set a $35.00 target price on Noble Energy and gave the company a “buy” rating in a report on Tuesday, January 29th. Finally, Raymond James set a $32.00 target price on Noble Energy and gave the company a “buy” rating in a report on Wednesday, January 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $38.19.
In related news, Director James E. Craddock sold 9,000 shares of Noble Energy stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $23.62, for a total transaction of $212,580.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.81% of the company’s stock.
Noble Energy stock opened at $24.07 on Thursday. The stock has a market cap of $11.23 billion, a P/E ratio of 26.74 and a beta of 1.38. Noble Energy, Inc. has a 52 week low of $17.11 and a 52 week high of $37.76. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.64 and a quick ratio of 0.64.
Noble Energy (NYSE:NBL) last posted its quarterly earnings data on Friday, May 3rd. The oil and gas development company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1 billion. Noble Energy had a positive return on equity of 2.05% and a negative net margin of 19.63%. The company’s revenue for the quarter was down 18.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 EPS. As a group, sell-side analysts forecast that Noble Energy, Inc. will post 0.09 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 6th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Friday, May 3rd. This is a boost from Noble Energy’s previous quarterly dividend of $0.11. Noble Energy’s dividend payout ratio (DPR) is currently 53.33%.
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. The company owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins.
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