Jennison Associates LLC cut its holdings in shares of Noble Energy, Inc. (NYSE:NBL) by 8.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,909,317 shares of the oil and gas development company’s stock after selling 553,940 shares during the period. Jennison Associates LLC owned approximately 1.24% of Noble Energy worth $132,369,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in NBL. NuWave Investment Management LLC lifted its stake in Noble Energy by 719.3% during the second quarter. NuWave Investment Management LLC now owns 1,147 shares of the oil and gas development company’s stock valued at $26,000 after purchasing an additional 1,007 shares during the last quarter. FTB Advisors Inc. lifted its stake in Noble Energy by 356.5% during the second quarter. FTB Advisors Inc. now owns 3,241 shares of the oil and gas development company’s stock valued at $72,000 after purchasing an additional 2,531 shares during the last quarter. Investors Research Corp acquired a new stake in Noble Energy during the first quarter valued at approximately $75,000. Quadrant Capital Group LLC lifted its position in shares of Noble Energy by 1,500.5% in the 1st quarter. Quadrant Capital Group LLC now owns 3,281 shares of the oil and gas development company’s stock valued at $76,000 after acquiring an additional 3,076 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its position in shares of Noble Energy by 24.3% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,071 shares of the oil and gas development company’s stock valued at $76,000 after acquiring an additional 600 shares in the last quarter. 98.28% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on NBL shares. UBS Group set a $34.00 price target on shares of Noble Energy and gave the company a “buy” rating in a research report on Thursday, May 16th. Piper Jaffray Companies set a $28.00 price target on shares of Noble Energy and gave the company a “buy” rating in a research report on Friday, August 16th. KeyCorp started coverage on shares of Noble Energy in a research report on Wednesday, July 31st. They issued a “sector weight” rating for the company. TD Securities reduced their price target on shares of Noble Energy from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, May 6th. Finally, Capital One Financial upgraded shares of Noble Energy from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $32.21.
Noble Energy (NYSE:NBL) last released its quarterly earnings data on Friday, August 2nd. The oil and gas development company reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.03. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. Noble Energy had a negative net margin of 19.93% and a positive return on equity of 0.87%. During the same quarter in the prior year, the business earned $0.17 EPS. Analysts anticipate that Noble Energy, Inc. will post -0.34 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, August 2nd. This represents a $0.48 annualized dividend and a dividend yield of 2.22%. Noble Energy’s dividend payout ratio (DPR) is 53.33%.
Noble Energy Company 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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