Dimensional Fund Advisors LP boosted its stake in Noble Energy Inc. (NYSE:NBL) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,181,627 shares of the oil and gas development company’s stock after buying an additional 24,181 shares during the period. Dimensional Fund Advisors LP owned 0.51% of Noble Energy worth $78,273,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NBL. Legal & General Group Plc raised its position in Noble Energy by 3.2% in the first quarter. Legal & General Group Plc now owns 1,865,006 shares of the oil and gas development company’s stock worth $58,576,000 after buying an additional 57,066 shares during the period. Strs Ohio raised its position in Noble Energy by 10.1% in the second quarter. Strs Ohio now owns 1,455,163 shares of the oil and gas development company’s stock worth $52,196,000 after buying an additional 133,449 shares during the period. Geode Capital Management LLC raised its position in Noble Energy by 2.7% in the first quarter. Geode Capital Management LLC now owns 3,493,380 shares of the oil and gas development company’s stock worth $109,506,000 after buying an additional 91,877 shares during the period. Wellington Management Group LLP raised its position in Noble Energy by 60.6% in the first quarter. Wellington Management Group LLP now owns 4,684,149 shares of the oil and gas development company’s stock worth $147,129,000 after buying an additional 1,767,615 shares during the period. Finally, A.R.T. Advisors LLC bought a new position in Noble Energy during the first quarter worth about $3,241,000. Institutional investors and hedge funds own 93.83% of the company’s stock.
Shares of Noble Energy Inc. (NYSE:NBL) traded up 2.60% on Monday, hitting $33.88. The company had a trading volume of 1,505,271 shares. Noble Energy Inc. has a 12 month low of $23.77 and a 12 month high of $39.85. The stock’s market cap is $14.57 billion. The company has a 50-day moving average of $34.87 and a 200 day moving average of $34.82.
Noble Energy (NYSE:NBL) last announced its quarterly earnings results on Wednesday, August 3rd. The oil and gas development company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.05. Noble Energy had a negative net margin of 90.52% and a negative return on equity of 2.16%. The company had revenue of $847 million for the quarter, compared to analyst estimates of $909.36 million. During the same quarter last year, the business earned $0.26 earnings per share. Noble Energy’s revenue was up 14.8% compared to the same quarter last year. Analysts anticipate that Noble Energy Inc. will post ($1.09) EPS for the current fiscal year.
A number of analysts have weighed in on the company. Johnson Rice restated a “buy” rating and issued a $21.00 price target (up from $19.00) on shares of Noble Energy in a research note on Thursday, September 15th. Seaport Global Securities upgraded Noble Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $36.00 to $45.00 in a research note on Tuesday, June 7th. Credit Suisse Group AG restated a “buy” rating on shares of Noble Energy in a research note on Thursday, June 2nd. Barclays PLC raised their price target on Noble Energy from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, July 14th. Finally, Piper Jaffray Cos. assumed coverage on Noble Energy in a research note on Wednesday, June 8th. They issued an “overweight” rating and a $48.00 price target on the stock. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $41.10.
In other Noble Energy news, Director Jeffrey L. Berenson sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $34.05, for a total value of $340,500.00. Following the sale, the director now owns 82,269 shares in the company, valued at $2,801,259.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.17% of the stock is currently owned by company insiders.
About Noble Energy
Noble Energy, Inc is an independent energy company engaged in crude oil, natural gas and natural gas liquids (NGLs) exploration and production. The Company’s portfolio is diversified between short-term and long-term projects, domestic and international and a balanced production mix among crude oil, natural gas and NGLs.
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