Invesco Ltd. grew its stake in Noble Energy, Inc. (NYSE:NBL) by 23.8% during the second quarter, HoldingsChannel reports. The firm owned 20,397,565 shares of the oil and gas development company’s stock after buying an additional 3,914,966 shares during the quarter. Invesco Ltd.’s holdings in Noble Energy were worth $456,904,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. NuWave Investment Management LLC boosted its stake in shares of Noble Energy by 719.3% in the 2nd quarter. NuWave Investment Management LLC now owns 1,147 shares of the oil and gas development company’s stock valued at $26,000 after purchasing an additional 1,007 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its stake in shares of Noble Energy by 24.3% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,071 shares of the oil and gas development company’s stock valued at $76,000 after purchasing an additional 600 shares in the last quarter. FTB Advisors Inc. boosted its stake in shares of Noble Energy by 356.5% in the 2nd quarter. FTB Advisors Inc. now owns 3,241 shares of the oil and gas development company’s stock valued at $72,000 after purchasing an additional 2,531 shares in the last quarter. NEXT Financial Group Inc acquired a new stake in shares of Noble Energy in the 2nd quarter valued at approximately $76,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co boosted its stake in shares of Noble Energy by 43.3% in the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 4,300 shares of the oil and gas development company’s stock valued at $96,000 after purchasing an additional 1,300 shares in the last quarter. Institutional investors own 98.53% of the company’s stock.
NBL has been the topic of several recent research reports. Capital One Financial upgraded shares of Noble Energy from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. Oppenheimer upgraded shares of Noble Energy from a “market perform” rating to an “outperform” rating and set a $33.00 target price on the stock in a research report on Thursday, August 22nd. ValuEngine upgraded shares of Noble Energy from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. KeyCorp initiated coverage on shares of Noble Energy in a research report on Wednesday, July 31st. They set a “sector weight” rating on the stock. Finally, Piper Jaffray Companies set a $28.00 target price on shares of Noble Energy and gave the stock a “buy” rating in a research report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Noble Energy currently has an average rating of “Buy” and a consensus target price of $32.21.
NYSE:NBL traded down $0.38 during mid-day trading on Wednesday, hitting $24.71. 38,820 shares of the company’s stock were exchanged, compared to its average volume of 4,496,801. The firm has a market capitalization of $11.98 billion, a P/E ratio of 27.42 and a beta of 1.36. Noble Energy, Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $32.73. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.68. The company has a 50 day simple moving average of $22.42 and a 200-day simple moving average of $23.04.
Noble Energy (NYSE:NBL) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas development company reported ($0.10) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.03. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.05 billion. Noble Energy had a negative net margin of 19.93% and a positive return on equity of 0.87%. During the same quarter in the previous year, the company earned $0.17 EPS. As a group, analysts expect that Noble Energy, Inc. will post -0.35 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.94%. Noble Energy’s dividend payout ratio (DPR) is currently 53.33%.
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. The company owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins.
Further Reading: Recession
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