Eagle Boston Investment Management Inc. raised its holdings in shares of Noble Energy, Inc. (NYSE:NBL) by 23.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,133 shares of the oil and gas development company’s stock after buying an additional 6,131 shares during the quarter. Eagle Boston Investment Management Inc.’s holdings in Noble Energy were worth $936,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Massey Quick Simon & CO. LLC purchased a new stake in shares of Noble Energy during the third quarter worth $155,000. Sawyer & Company Inc purchased a new stake in shares of Noble Energy during the fourth quarter worth $169,000. Lourd Capital LLC purchased a new stake in shares of Noble Energy during the fourth quarter worth $203,000. Raymond James Financial Services Advisors Inc. grew its holdings 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 worth $259,000 after buying an additional 293 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of Noble Energy by 31.3% during the third quarter. Pacer Advisors Inc. now owns 9,976 shares of the oil and gas development company’s stock worth $283,000 after buying an additional 2,378 shares in the last quarter. 94.44% of the stock is owned by institutional investors and hedge funds.
In other Noble Energy news, CFO Kenneth M. Fisher sold 7,621 shares of the company’s 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 transaction, the chief financial officer now owns 197,144 shares of the company’s stock, valued at $5,677,747.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas J. Edelman sold 200,000 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $26.99, for a total transaction of $5,398,000.00. Following the completion of the transaction, the director now directly owns 2,952,878 shares in the company, valued at approximately $79,698,177.22. The disclosure for this sale can be found here. Corporate insiders own 2.28% of the company’s stock.
Noble Energy, Inc. (NYSE NBL) opened at $26.28 on Friday. Noble Energy, Inc. has a 1 year low of $22.99 and a 1 year high of $37.91. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $12,831.83, a PE ratio of -6.59 and a beta of 1.14.
Noble Energy declared that its board has approved a share buyback plan on Thursday, February 15th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas development company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, February 26th. Shareholders of record on Monday, February 12th will be given a $0.10 dividend. The ex-dividend date is Friday, February 9th. This represents a $0.40 dividend on an annualized basis and a yield of 1.52%. Noble Energy’s payout ratio is currently -10.03%.
A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Noble Energy from $36.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Credit Suisse Group set a $40.00 target price on shares of Noble Energy and gave the stock a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Stifel Nicolaus set a $40.00 price target on shares of Noble Energy and gave the company a “buy” rating in a research report on Monday, January 29th. Jefferies Group set a $38.00 price target on shares of Noble Energy and gave the company a “buy” rating in a research report on Tuesday, January 30th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $41.00 price target on shares of Noble Energy in a research report on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $37.53.
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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