Landscape Capital Management L.L.C. lifted its holdings in shares of Noble Energy, Inc. (NYSE:NBL) by 231.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,960 shares of the oil and gas development company’s stock after buying an additional 25,119 shares during the period. Landscape Capital Management L.L.C.’s holdings in Noble Energy were worth $1,048,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. American Century Companies Inc. grew its holdings in Noble Energy by 3.8% during the 4th quarter. American Century Companies Inc. now owns 8,726,274 shares of the oil and gas development company’s stock valued at $254,284,000 after buying an additional 321,942 shares during the last quarter. Jennison Associates LLC grew its holdings in Noble Energy by 3.5% during the 4th quarter. Jennison Associates LLC now owns 8,365,528 shares of the oil and gas development company’s stock valued at $243,771,000 after buying an additional 286,126 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in Noble Energy by 1.7% during the 3rd quarter. Artisan Partners Limited Partnership now owns 7,172,711 shares of the oil and gas development company’s stock valued at $203,418,000 after buying an additional 121,877 shares during the last quarter. Geode Capital Management LLC grew its holdings in Noble Energy by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 5,235,837 shares of the oil and gas development company’s stock valued at $152,254,000 after buying an additional 140,886 shares during the last quarter. Finally, OppenheimerFunds Inc. grew its holdings in Noble Energy by 7.4% during the 4th quarter. OppenheimerFunds Inc. now owns 4,399,822 shares of the oil and gas development company’s stock valued at $128,211,000 after buying an additional 302,201 shares during the last quarter. 95.71% of the stock is owned by institutional investors and hedge funds.
Shares of Noble Energy, Inc. (NYSE NBL) traded down $0.48 during midday trading on Wednesday, hitting $29.70. The stock had a trading volume of 4,877,966 shares, compared to its average volume of 6,700,000. Noble Energy, Inc. has a twelve month low of $22.99 and a twelve month high of $35.74. The stock has a market capitalization of $14,620.00, a price-to-earnings ratio of -7.92 and a beta of 1.10. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.27.
Noble Energy (NYSE:NBL) last announced its earnings results on Tuesday, February 20th. The oil and gas development company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.28. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.18 billion. Noble Energy had a positive return on equity of 1.46% and a negative net margin of 26.27%. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 earnings per share. research analysts expect that Noble Energy, Inc. will post 0.84 EPS for the current fiscal year.
Noble Energy declared that its Board of Directors has approved a share buyback plan 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 purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Monday, February 12th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.40 dividend on an annualized basis and a yield of 1.35%. Noble Energy’s dividend payout ratio (DPR) is -10.67%.
In related news, CFO Kenneth M. Fisher sold 7,621 shares of Noble Energy stock in a transaction dated Monday, February 5th. The stock was 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 in the company, valued at $5,677,747.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James E. Craddock sold 8,500 shares of Noble Energy stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $31.35, for a total value of $266,475.00. Following the completion of the transaction, the director now owns 93,413 shares of the company’s stock, valued at $2,928,497.55. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by company insiders.
Several equities research analysts have recently issued reports on NBL shares. Piper Jaffray Companies restated a “buy” rating and set a $41.00 price objective on shares of Noble Energy in a report on Tuesday, January 9th. Royal Bank of Canada set a $36.00 price objective on Noble Energy and gave the stock a “buy” rating in a report on Wednesday, December 20th. Jefferies Group upgraded Noble Energy from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Wednesday, December 20th. Seaport Global Securities upgraded Noble Energy from a “neutral” rating to a “buy” rating in a report on Tuesday, December 19th. Finally, Stifel Nicolaus set a $42.00 price objective on Noble Energy and gave the stock a “buy” rating in a report on Monday, December 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $40.52.
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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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