United Services Automobile Association lessened its holdings in shares of Noble Energy, Inc. (NYSE:NBL) by 1.3% in the second quarter, Holdings Channel reports. The institutional investor owned 150,994 shares of the oil and gas development company’s stock after selling 2,049 shares during the quarter. United Services Automobile Association’s holdings in Noble Energy were worth $5,327,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also made changes to their positions in the company. Point72 Asia Hong Kong Ltd grew its position in Noble Energy by 656.0% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 3,833 shares of the oil and gas development company’s stock worth $116,000 after purchasing an additional 3,326 shares during the last quarter. Advisors Preferred LLC bought a new position in Noble Energy in the 2nd quarter worth about $126,000. Whittier Trust Co. bought a new position in Noble Energy in the 2nd quarter worth about $163,000. Piedmont Investment Advisors LLC bought a new position in Noble Energy in the 2nd quarter worth about $200,000. Finally, Ingalls & Snyder LLC bought a new position in Noble Energy in the 2nd quarter worth about $202,000. 97.68% of the stock is owned by institutional investors and hedge funds.
Several research analysts have commented on the stock. Morgan Stanley set a $38.00 target price on shares of Noble Energy and gave the stock a “hold” rating in a research report on Friday. Oppenheimer assumed coverage on shares of Noble Energy in a research report on Wednesday, October 3rd. They issued a “market perform” rating and a $43.00 target price for the company. Piper Jaffray Companies restated an “overweight” rating on shares of Noble Energy in a research report on Friday, September 28th. Barclays assumed coverage on shares of Noble Energy in a research report on Wednesday, August 29th. They issued an “underweight” rating and a $33.00 target price for the company. Finally, KLR Group restated a “buy” rating and issued a $61.00 target price on shares of Noble Energy in a research report on Monday, August 20th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nineteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $41.88.
In other news, major shareholder Nbl Midstream, Llc sold 14,137,198 shares of the company’s stock in a transaction that occurred on Wednesday, September 26th. The shares were sold at an average price of $17.75, for a total value of $250,935,264.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.96% of the company’s stock.
Shares of NYSE:NBL opened at $31.61 on Friday. The company has a market capitalization of $15.07 billion, a PE ratio of 101.97, a P/E/G ratio of 3.14 and a beta of 0.96. Noble Energy, Inc. has a twelve month low of $24.28 and a twelve month high of $37.76. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.58.
Noble Energy (NYSE:NBL) last issued its quarterly earnings results on Friday, August 3rd. The oil and gas development company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.05). The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.15 billion. Noble Energy had a return on equity of 2.89% and a net margin of 19.01%. The company’s revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.05 earnings per share. Equities analysts forecast that Noble Energy, Inc. will post 0.99 earnings per share for the current year.
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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