Daiwa Securities Group Inc. lessened its stake in Noble Energy, Inc. (NYSE:NBL) by 21.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,867 shares of the oil and gas development company’s stock after selling 4,100 shares during the period. Daiwa Securities Group Inc.’s holdings in Noble Energy were worth $433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in Noble Energy in the third quarter valued at $11,285,000. Highstreet Asset Management Inc. boosted its stake in Noble Energy by 69.3% in the third quarter. Highstreet Asset Management Inc. now owns 70,082 shares of the oil and gas development company’s stock valued at $1,988,000 after acquiring an additional 28,679 shares in the last quarter. Vident Investment Advisory LLC acquired a new position in Noble Energy in the third quarter valued at $361,000. Retirement Systems of Alabama boosted its stake in Noble Energy by 7.0% in the third quarter. Retirement Systems of Alabama now owns 236,050 shares of the oil and gas development company’s stock valued at $6,694,000 after acquiring an additional 15,349 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in Noble Energy in the third quarter valued at $2,500,000. Institutional investors own 94.44% of the company’s stock.
Several research firms have issued reports on NBL. Capital One Financial upgraded shares of Noble Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, January 10th. ValuEngine downgraded shares of Noble Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Credit Suisse Group began coverage on shares of Noble Energy in a research note on Monday, December 11th. They set an “outperform” rating and a $35.00 target price for the company. Wolfe Research downgraded shares of Noble Energy from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 30th. Finally, Stifel Nicolaus set a $40.00 target price on shares of Noble Energy and gave the stock a “buy” rating in a research note on Monday, January 29th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $37.53.
Noble Energy, Inc. (NYSE NBL) opened at $26.28 on Monday. The stock has a market cap of $12,788.03, a PE ratio of -6.59 and a beta of 1.14. Noble Energy, Inc. has a 1-year low of $22.99 and a 1-year high of $37.91. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.75.
The company also recently declared a quarterly dividend, which will be paid on Monday, February 26th. Investors of record on Monday, February 12th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, February 9th. This represents a $0.40 annualized dividend and a yield of 1.52%. Noble Energy’s dividend payout ratio is currently -10.03%.
Noble Energy declared that its board has initiated a stock repurchase program on Thursday, February 15th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the oil and gas development company to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
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Noble Energy Company Profile
Noble Energy, Inc is an independent energy company. The Company is engaged in crude oil, natural gas and natural gas and natural gas liquids (NGLs) exploration, development, production and acquisition. The Company’s segments include: United States, including the onshore DJ Basin, Permian Basin, Eagle Ford Shale, Marcellus Shale and offshore deepwater Gulf of Mexico, as well as the consolidated accounts of Noble Midstream Partners LP (Noble Midstream Partners); Eastern Mediterranean, including offshore Israel and Cyprus; West Africa, including offshore Equatorial Guinea, Cameroon and Gabon, and Other International and Corporate, including new ventures, such as offshore the Falkland Islands, Suriname and Newfoundland.
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