Compagnie Lombard Odier SCmA cut its stake in Noble Energy, Inc. (NYSE:NBL) by 5.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 599,910 shares of the oil and gas development company’s stock after selling 34,370 shares during the period. Compagnie Lombard Odier SCmA owned 0.12% of Noble Energy worth $17,476,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Shell Asset Management Co. boosted its stake in Noble Energy by 113.7% in the 4th quarter. Shell Asset Management Co. now owns 119,793 shares of the oil and gas development company’s stock worth $3,491,000 after purchasing an additional 63,737 shares in the last quarter. Greenwood Capital Associates LLC lifted its stake in Noble Energy by 49.7% during the 4th quarter. Greenwood Capital Associates LLC now owns 11,341 shares of the oil and gas development company’s stock valued at $330,000 after acquiring an additional 3,766 shares during the period. Vident Investment Advisory LLC acquired a new stake in Noble Energy during the 3rd quarter valued at approximately $361,000. Jane Street Group LLC acquired a new stake in Noble Energy during the 3rd quarter valued at approximately $2,500,000. Finally, Creative Planning lifted its stake in Noble Energy by 97.0% during the 4th quarter. Creative Planning now owns 31,343 shares of the oil and gas development company’s stock valued at $913,000 after acquiring an additional 15,432 shares during the period. Institutional investors own 95.64% of the company’s stock.
NBL has been the subject of several research reports. Piper Jaffray Companies restated a “buy” rating and set a $41.00 price objective on shares of Noble Energy in a research note on Tuesday, January 9th. Royal Bank of Canada set a $36.00 price objective on shares of Noble Energy and gave the company a “buy” rating in a research note on Wednesday, December 20th. Jefferies Group upgraded shares of Noble Energy from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Wednesday, December 20th. Seaport Global Securities upgraded shares of Noble Energy from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 19th. Finally, Stifel Nicolaus set a $42.00 price objective on shares of Noble Energy and gave the company a “buy” rating in a research note on Monday, December 18th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-one have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $40.48.
Noble Energy (NYSE:NBL) last issued its quarterly earnings results on Tuesday, February 20th. The oil and gas development company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.04 by $0.28. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.18 billion. Noble Energy had a negative net margin of 26.27% and a positive return on equity of 1.46%. The firm’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 EPS. sell-side analysts anticipate that Noble Energy, Inc. will post 0.89 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Monday, February 12th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.37%. The ex-dividend date was Friday, February 9th. Noble Energy’s payout ratio is presently -16.74%.
Noble Energy announced that its Board of Directors has approved a stock repurchase program on Thursday, February 15th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the oil and gas development company to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
In related news, Director James E. Craddock sold 8,500 shares of the business’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 owns 93,413 shares of the company’s stock, valued at approximately $2,928,497.55. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kenneth M. Fisher sold 7,621 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $28.80, for a total transaction of $219,484.80. Following the completion of the sale, the chief financial officer now directly owns 197,144 shares of the company’s stock, valued at approximately $5,677,747.20. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by insiders.
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Noble Energy Profile
Noble Energy, Inc is an independent energy company. The Company is engaged in crude oil, natural gas and natural gas and natural gas liquids (NGLs) exploration, development, production and acquisition. The Company’s segments include: United States, including the onshore DJ Basin, Permian Basin, Eagle Ford Shale, Marcellus Shale and offshore deepwater Gulf of Mexico, as well as the consolidated accounts of Noble Midstream Partners LP (Noble Midstream Partners); Eastern Mediterranean, including offshore Israel and Cyprus; West Africa, including offshore Equatorial Guinea, Cameroon and Gabon, and Other International and Corporate, including new ventures, such as offshore the Falkland Islands, Suriname and Newfoundland.
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