Fruth Investment Management trimmed its stake in shares of Noble Energy, Inc. (NYSE:NBL) by 8.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,050 shares of the oil and gas development company’s stock after selling 1,100 shares during the quarter. Fruth Investment Management’s holdings in Noble Energy were worth $297,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. increased its position in Noble Energy by 0.8% in the 4th quarter. BlackRock Inc. now owns 33,195,707 shares of the oil and gas development company’s stock valued at $622,749,000 after acquiring an additional 256,526 shares during the period. FMR LLC increased its position in Noble Energy by 15.7% in the 4th quarter. FMR LLC now owns 18,352,750 shares of the oil and gas development company’s stock valued at $344,298,000 after acquiring an additional 2,491,587 shares during the period. Boston Partners increased its position in Noble Energy by 36.8% in the 4th quarter. Boston Partners now owns 14,419,600 shares of the oil and gas development company’s stock valued at $270,511,000 after acquiring an additional 3,881,212 shares during the period. American Century Companies Inc. increased its position in Noble Energy by 7.7% in the 4th quarter. American Century Companies Inc. now owns 9,609,157 shares of the oil and gas development company’s stock valued at $180,268,000 after acquiring an additional 686,182 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Noble Energy by 9.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,173,152 shares of the oil and gas development company’s stock valued at $115,802,000 after acquiring an additional 528,212 shares during the period. Institutional investors and hedge funds own 97.81% of the company’s stock.
Shares of NYSE NBL opened at $27.10 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $12.80 billion, a price-to-earnings ratio of 29.08 and a beta of 1.35. Noble Energy, Inc. has a 1 year low of $17.11 and a 1 year high of $37.76.
Noble Energy (NYSE:NBL) last issued its quarterly earnings results on Tuesday, February 19th. The oil and gas development company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.14 billion. Noble Energy had a positive return on equity of 3.93% and a negative net margin of 1.32%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the company posted $0.32 EPS. Equities research analysts forecast that Noble Energy, Inc. will post 0.29 earnings per share for the current year.
In related news, Director James E. Craddock sold 9,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $23.62, for a total transaction of $212,580.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kenneth M. Fisher sold 16,564 shares of the stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $22.89, for a total value of $379,149.96. Following the sale, the chief financial officer now owns 215,854 shares of the company’s stock, valued at $4,940,898.06. The disclosure for this sale can be found here. Company insiders own 1.81% of the company’s stock.
Several research firms recently commented on NBL. ValuEngine upgraded Noble Energy from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Stephens set a $35.00 target price on Noble Energy and gave the company a “buy” rating in a research report on Tuesday, February 26th. Imperial Capital set a $39.00 target price on Noble Energy and gave the company a “buy” rating in a research report on Wednesday, February 20th. Capital One Financial lowered Noble Energy from an “overweight” rating to an “underweight” rating in a research note on Thursday, December 20th. Finally, Mizuho raised Noble Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $28.00 to $29.00 in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the stock. Noble Energy presently has an average rating of “Buy” and an average price target of $38.92.
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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: Are sell-side analysts objective?
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