State Treasurer State of Michigan reduced its stake in shares of Noble Energy, Inc. (NYSE:NBL) by 4.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 137,361 shares of the oil and gas development company’s stock after selling 6,600 shares during the quarter. State Treasurer State of Michigan’s holdings in Noble Energy were worth $2,577,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently bought and sold shares of the company. Huntington National Bank raised its holdings in shares of Noble Energy by 59.2% during the fourth quarter. Huntington National Bank now owns 1,430 shares of the oil and gas development company’s stock worth $27,000 after purchasing an additional 532 shares during the last quarter. Ayalon Holdings Ltd. purchased a new position in shares of Noble Energy during the fourth quarter worth $33,000. First Mercantile Trust Co. raised its holdings in shares of Noble Energy by 1,750.0% during the fourth quarter. First Mercantile Trust Co. now owns 2,960 shares of the oil and gas development company’s stock worth $55,000 after purchasing an additional 2,800 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Noble Energy by 69.6% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,900 shares of the oil and gas development company’s stock worth $73,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Ipswich Investment Management Co. Inc. purchased a new position in shares of Noble Energy during the fourth quarter worth $75,000. Institutional investors and hedge funds own 98.23% of the company’s stock.
Several brokerages recently issued reports on NBL. Mizuho set a $28.00 target price on shares of Noble Energy and gave the stock a “hold” rating in a report on Wednesday, November 28th. Capital One Financial cut shares of Noble Energy from an “overweight” rating to an “underweight” rating in a report on Thursday, December 20th. Morgan Stanley raised shares of Noble Energy from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $37.00 to $33.00 in a report on Wednesday, January 9th. Piper Jaffray Companies reissued a “buy” rating and set a $37.00 target price on shares of Noble Energy in a report on Monday, November 19th. Finally, Raymond James set a $32.00 target price on shares of Noble Energy and gave the stock a “buy” rating in a report on Wednesday, January 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $39.89.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 25th. Shareholders of record on Monday, February 11th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Friday, February 8th. This represents a $0.44 dividend on an annualized basis and a yield of 2.07%. Noble Energy’s payout ratio is 141.94%.
In other Noble Energy news, CFO Kenneth M. Fisher sold 16,564 shares of Noble Energy stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $22.89, for a total value of $379,149.96. Following the completion of the transaction, the chief financial officer now owns 215,854 shares of the company’s stock, valued at $4,940,898.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.96% of the stock is currently owned by insiders.
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About Noble Energy
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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