Noble Energy (NBL) Reaches New 52-Week High and Low at $34.53

Noble Energy (NYSE:NBL) hit a new 52-week high and low during mid-day trading on Thursday . The company traded as low as $34.53 and last traded at $33.89, with a volume of 1558649 shares. The stock had previously closed at $33.86.

A number of equities research analysts have issued reports on the company. Capital One upgraded Noble Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, January 10th. Deutsche Bank set a $40.00 price target on Noble Energy and gave the stock a “buy” rating in a research note on Wednesday, February 21st. ValuEngine lowered Noble Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Royal Bank of Canada set a $37.00 price objective 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 objective on shares of Noble Energy and gave the company a “buy” rating in a report on Wednesday, March 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-two have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $40.82.

The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.64. The firm has a market cap of $16,375.23, a P/E ratio of 110.03 and a beta of 1.04.

Noble Energy (NYSE:NBL) last announced its quarterly earnings results on Tuesday, February 20th. The oil and gas development company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.28. Noble Energy had a negative net margin of 26.27% and a positive return on equity of 1.46%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the firm earned $0.26 EPS. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. equities analysts predict that Noble Energy will post 1.08 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 21st. Investors of record on Monday, May 7th will be issued a $0.11 dividend. This is an increase from Noble Energy’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, May 4th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.29%. Noble Energy’s dividend payout ratio (DPR) is presently 129.03%.

Noble Energy declared that its Board of Directors has approved a share buyback plan on Thursday, February 15th that allows the company to repurchase $750.00 million in 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 management believes its shares are undervalued.

In related news, CFO Kenneth M. Fisher sold 7,621 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $28.80, for a total value of $219,484.80. Following the completion of the transaction, the chief financial officer now owns 197,144 shares of the company’s stock, valued at approximately $5,677,747.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James E. Craddock sold 8,500 shares of the stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $31.35, for a total transaction of $266,475.00. Following the completion of the transaction, the director now directly owns 93,413 shares of the company’s stock, valued at approximately $2,928,497.55. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Lucas Capital Management lifted its stake in Noble Energy by 18.7% in the fourth quarter. Lucas Capital Management now owns 12,700 shares of the oil and gas development company’s stock worth $372,000 after purchasing an additional 2,000 shares during the last quarter. Ellington Management Group LLC lifted its stake in Noble Energy by 12.6% in the fourth quarter. Ellington Management Group LLC now owns 17,900 shares of the oil and gas development company’s stock worth $522,000 after purchasing an additional 2,000 shares during the last quarter. Meadow Creek Investment Management LLC lifted its stake in Noble Energy by 9.6% in the fourth quarter. Meadow Creek Investment Management LLC now owns 26,124 shares of the oil and gas development company’s stock worth $761,000 after purchasing an additional 2,296 shares during the last quarter. Norinchukin Bank The lifted its stake in Noble Energy by 7.4% in the fourth quarter. Norinchukin Bank The now owns 38,906 shares of the oil and gas development company’s stock worth $1,134,000 after purchasing an additional 2,692 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in Noble Energy by 3.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 89,581 shares of the oil and gas development company’s stock worth $2,610,000 after purchasing an additional 3,070 shares during the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

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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