Texas Permanent School Fund trimmed its holdings in shares of Noble Energy, Inc. (NYSE:NBL) by 3.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 88,787 shares of the oil and gas development company’s stock after selling 3,440 shares during the period. Texas Permanent School Fund’s holdings in Noble Energy were worth $1,994,000 as of its most recent SEC filing.
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Other hedge funds and other institutional investors have also recently made changes to their positions in the company. NuWave Investment Management LLC grew its position in shares of Noble Energy by 719.3% during the 2nd quarter. NuWave Investment Management LLC now owns 1,147 shares of the oil and gas development company’s stock valued at $26,000 after acquiring an additional 1,007 shares during the period. Cornerstone Advisors Inc. grew its position in shares of Noble Energy by 208.0% during the 3rd quarter. Cornerstone Advisors Inc. now owns 1,189 shares of the oil and gas development company’s stock valued at $27,000 after acquiring an additional 803 shares during the period. Quest Capital Management Inc. ADV bought a new stake in shares of Noble Energy during the 3rd quarter valued at $30,000. Private Capital Group LLC grew its position in shares of Noble Energy by 1,027.9% during the 2nd quarter. Private Capital Group LLC now owns 1,376 shares of the oil and gas development company’s stock valued at $49,000 after acquiring an additional 1,254 shares during the period. Finally, Bridger Capital Management LLC bought a new stake in shares of Noble Energy during the 3rd quarter valued at $38,000. Institutional investors own 98.64% of the company’s stock.
Shares of NYSE NBL traded down $0.63 during mid-day trading on Friday, hitting $20.88. 10,208,036 shares of the company’s stock traded hands, compared to its average volume of 5,534,097. The company’s 50-day moving average is $20.65 and its two-hundred day moving average is $21.96. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market capitalization of $10.29 billion, a P/E ratio of 23.20 and a beta of 1.37. Noble Energy, Inc. has a 1 year low of $17.11 and a 1 year high of $28.40.
Noble Energy (NYSE:NBL) last posted its quarterly earnings data on Thursday, November 7th. The oil and gas development company reported ($0.10) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.01. Noble Energy had a negative net margin of 25.33% and a negative return on equity of 0.82%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the company posted $0.27 EPS. The firm’s revenue for the quarter was down 12.1% on a year-over-year basis. Equities analysts anticipate that Noble Energy, Inc. will post -0.41 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Monday, November 4th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.48 dividend on an annualized basis and a yield of 2.30%. Noble Energy’s dividend payout ratio is currently 53.33%.
A number of equities research analysts have recently issued reports on the stock. Oppenheimer raised shares of Noble Energy from a “market perform” rating to an “outperform” rating and set a $33.00 price objective for the company in a research report on Thursday, August 22nd. KeyCorp began coverage on shares of Noble Energy in a report on Wednesday, July 31st. They issued a “sector weight” rating for the company. Citigroup upped their target price on shares of Noble Energy from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Morgan Stanley reaffirmed a “buy” rating and issued a $29.00 target price on shares of Noble Energy in a report on Tuesday, November 12th. Finally, Wolfe Research raised shares of Noble Energy from a “peer perform” rating to an “outperform” rating and dropped their target price for the stock from $31.00 to $30.00 in a report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $30.89.
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. The company owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins.