American International Group Inc. Grows Position in Noble Energy (NBL)

American International Group Inc. lifted its holdings in Noble Energy (NYSE:NBL) by 2.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 199,750 shares of the oil and gas development company’s stock after acquiring an additional 4,896 shares during the period. American International Group Inc.’s holdings in Noble Energy were worth $6,052,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Bank of Montreal Can grew its stake in Noble Energy by 3.5% during the fourth quarter. Bank of Montreal Can now owns 204,347 shares of the oil and gas development company’s stock worth $5,955,000 after buying an additional 6,969 shares in the last quarter. Creative Planning grew its stake in Noble Energy by 97.0% during the fourth quarter. Creative Planning now owns 31,343 shares of the oil and gas development company’s stock worth $913,000 after buying an additional 15,432 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Noble Energy by 1.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,725,980 shares of the oil and gas development company’s stock worth $50,296,000 after buying an additional 25,741 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Noble Energy by 82.8% during the fourth quarter. State of Alaska Department of Revenue now owns 66,252 shares of the oil and gas development company’s stock worth $1,930,000 after buying an additional 30,000 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Noble Energy by 64.7% during the fourth quarter. SG Americas Securities LLC now owns 88,347 shares of the oil and gas development company’s stock worth $2,574,000 after buying an additional 34,705 shares in the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

NBL has been the topic of a number of analyst reports. Bank of America increased their price objective on shares of Noble Energy from $52.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. KLR Group increased their price objective on shares of Noble Energy from $9.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Wolfe Research downgraded shares of Noble Energy from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 30th. BMO Capital Markets reiterated a “buy” rating and set a $40.00 price objective on shares of Noble Energy in a research note on Wednesday, April 11th. Finally, Jefferies Group set a $38.00 price objective on shares of Noble Energy and gave the stock a “buy” rating in a research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-two have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $41.09.



In related news, Director James E. Craddock sold 8,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 93,413 shares in the company, valued at approximately $2,928,497.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Andrea Lee Robison sold 8,760 shares of the firm’s stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $37.00, for a total transaction of $324,120.00. Following the completion of the transaction, the vice president now owns 100,918 shares of the company’s stock, valued at approximately $3,733,966. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,020 shares of company stock valued at $1,096,815. 1.96% of the stock is owned by company insiders.

Shares of NYSE NBL opened at $36.57 on Friday. The company has a market capitalization of $17.83 billion, a P/E ratio of 117.97 and a beta of 1.02. Noble Energy has a 1 year low of $22.99 and a 1 year high of $37.67. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.17 and a quick ratio of 1.17.

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

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 21st. Investors of record on Monday, May 7th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Friday, May 4th. This is a positive change from Noble Energy’s previous quarterly dividend of $0.10. Noble Energy’s dividend payout ratio (DPR) is 141.94%.

Noble Energy declared that its Board of Directors has initiated a share repurchase 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. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are 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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