State of New Jersey Common Pension Fund D lowered its stake in shares of Noble Energy, Inc. (NYSE:NBL) by 17.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 197,900 shares of the oil and gas development company’s stock after selling 40,400 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Noble Energy were worth $6,173,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in NBL. Advisors Preferred LLC acquired a new position in Noble Energy during the 2nd quarter valued at approximately $126,000. Whittier Trust Co. acquired a new position in Noble Energy during the 2nd quarter valued at approximately $163,000. Piedmont Investment Advisors LLC acquired a new position in Noble Energy during the 2nd quarter valued at approximately $200,000. Ingalls & Snyder LLC acquired a new position in Noble Energy during the 2nd quarter valued at approximately $202,000. Finally, Chicago Equity Partners LLC acquired a new position in Noble Energy during the 2nd quarter valued at approximately $204,000. Institutional investors and hedge funds own 97.43% of the company’s stock.
Several brokerages have weighed in on NBL. Bank of America began coverage on Noble Energy in a research note on Tuesday, July 10th. They set a “buy” rating and a $59.00 target price on the stock. Morgan Stanley began coverage on Noble Energy in a research note on Thursday, July 12th. They set an “equal weight” rating and a $39.00 target price on the stock. Mitsubishi UFJ Financial Group lifted their target price on Noble Energy to $52.00 and gave the company an “overweight” rating in a research note on Thursday, July 19th. Mizuho began coverage on Noble Energy in a research note on Monday, July 23rd. They set a “buy” rating and a $51.00 target price on the stock. Finally, TD Securities set a $43.00 target price on Noble Energy and gave the company a “buy” rating in a research note on Sunday, August 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nineteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $41.96.
NBL opened at $27.03 on Wednesday. Noble Energy, Inc. has a one year low of $23.83 and a one year high of $37.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $12.73 billion, a PE ratio of 87.19, a PEG ratio of 2.76 and a beta of 1.08.
Noble Energy (NYSE:NBL) last posted its quarterly earnings data on Thursday, November 1st. The oil and gas development company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.09. Noble Energy had a return on equity of 4.82% and a net margin of 25.09%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the business earned ($0.02) EPS. The company’s quarterly revenue was up 32.6% compared to the same quarter last year. On average, research analysts forecast that Noble Energy, Inc. will post 0.95 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Monday, November 5th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Friday, November 2nd. Noble Energy’s dividend payout ratio is presently 141.94%.
In other news, major shareholder Nbl Midstream, Llc sold 14,137,198 shares of the business’s stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $17.75, for a total value of $250,935,264.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.96% of the stock is currently owned by insiders.
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. 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.
Further Reading: Asset Allocation, Balancing Your Investments
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