Noble Energy (NYSE:NBL) announced its earnings results on Tuesday. The oil and gas development company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.28, Morningstar.com reports. Noble Energy had a negative net margin of 45.85% and a positive return on equity of 1.06%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the business earned $0.26 earnings per share. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year.
Noble Energy (NBL) opened at $27.51 on Tuesday. Noble Energy has a one year low of $22.99 and a one year high of $37.82. The stock has a market cap of $12,788.04, a PE ratio of -6.89 and a beta of 1.14. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.75.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 26th. Investors of record on Monday, February 12th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Friday, February 9th. Noble Energy’s payout ratio is currently -10.03%.
Noble Energy declared that its board has initiated a share buyback program on Thursday, February 15th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the oil and gas development company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
In related news, CFO Kenneth M. Fisher sold 7,621 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $28.80, for a total value of $219,484.80. Following the completion of the transaction, the chief financial officer now directly owns 197,144 shares of the company’s stock, valued at $5,677,747.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David L. Stover purchased 19,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was bought at an average cost of $26.31 per share, with a total value of $499,890.00. Following the completion of the purchase, the chief executive officer now owns 727,254 shares of the company’s stock, valued at $19,134,052.74. The disclosure for this purchase can be found here. 2.28% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in NBL. Raymond James Financial Services Advisors Inc. increased its stake in shares of Noble Energy by 3.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 9,135 shares of the oil and gas development company’s stock valued at $259,000 after purchasing an additional 293 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Noble Energy by 10.7% during the second quarter. Public Employees Retirement System of Ohio now owns 215,148 shares of the oil and gas development company’s stock valued at $6,089,000 after purchasing an additional 20,785 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in shares of Noble Energy by 24.4% during the third quarter. Mutual of America Capital Management LLC now owns 152,125 shares of the oil and gas development company’s stock valued at $4,314,000 after purchasing an additional 29,808 shares in the last quarter. Oakbrook Investments LLC bought a new position in shares of Noble Energy during the third quarter valued at approximately $1,095,000. Finally, Strs Ohio increased its stake in shares of Noble Energy by 5.3% during the third quarter. Strs Ohio now owns 1,523,837 shares of the oil and gas development company’s stock valued at $43,216,000 after purchasing an additional 76,488 shares in the last quarter. 94.47% of the stock is owned by institutional investors and hedge funds.
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About Noble Energy
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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