Noble Energy, Inc. (NYSE:NBL) Stake Lowered by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC decreased its stake in Noble Energy, Inc. (NYSE:NBL) by 6.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,267 shares of the oil and gas development company’s stock after selling 1,422 shares during the period. Gateway Investment Advisers LLC’s holdings in Noble Energy were worth $526,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Huntington National Bank lifted its holdings in Noble Energy by 59.2% during the 4th quarter. Huntington National Bank now owns 1,430 shares of the oil and gas development company’s stock worth $27,000 after buying an additional 532 shares during the last quarter. Paradigm Asset Management Co. LLC increased its position in Noble Energy by 1.7% in the 3rd quarter. Paradigm Asset Management Co. LLC now owns 35,930 shares of the oil and gas development company’s stock valued at $1,121,000 after acquiring an additional 600 shares during the period. M&T Bank Corp increased its position in Noble Energy by 2.5% in the 4th quarter. M&T Bank Corp now owns 31,260 shares of the oil and gas development company’s stock valued at $587,000 after acquiring an additional 771 shares during the period. BOKF NA increased its position in Noble Energy by 4.3% in the 4th quarter. BOKF NA now owns 19,160 shares of the oil and gas development company’s stock valued at $360,000 after acquiring an additional 794 shares during the period. Finally, FDx Advisors Inc. increased its position in Noble Energy by 10.4% in the 4th quarter. FDx Advisors Inc. now owns 10,959 shares of the oil and gas development company’s stock valued at $206,000 after acquiring an additional 1,033 shares during the period. 97.74% of the stock is owned by institutional investors.

Shares of NBL traded down $0.23 during trading hours on Friday, hitting $24.11. 4,876,139 shares of the company were exchanged, compared to its average volume of 6,377,414. The firm has a market cap of $11.64 billion, a PE ratio of 26.79 and a beta of 1.38. The company has a quick ratio of 1.01, a current ratio of 0.64 and a debt-to-equity ratio of 0.66. Noble Energy, Inc. has a one year low of $17.11 and a one year high of $37.76.

Noble Energy (NYSE:NBL) last issued its earnings results on Friday, May 3rd. The oil and gas development company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.01). The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1 billion. Noble Energy had a positive return on equity of 2.05% and a negative net margin of 19.63%. The business’s quarterly revenue was down 18.2% on a year-over-year basis. During the same period last year, the business earned $0.35 EPS. On average, equities research analysts anticipate that Noble Energy, Inc. will post 0.08 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 6th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Friday, May 3rd. This is a boost from Noble Energy’s previous quarterly dividend of $0.11. Noble Energy’s dividend payout ratio (DPR) is 53.33%.

In other news, Director James E. Craddock sold 9,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $23.62, for a total value of $212,580.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.81% of the company’s stock.

NBL has been the topic of several analyst reports. Mizuho upgraded Noble Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $28.00 to $29.00 in a research report on Tuesday, March 19th. Stephens set a $35.00 target price on Noble Energy and gave the company a “buy” rating in a research report on Tuesday, February 26th. Imperial Capital set a $39.00 price target on Noble Energy and gave the company a “buy” rating in a research report on Wednesday, February 20th. UBS Group set a $34.00 price target on Noble Energy and gave the company a “buy” rating in a research report on Wednesday, February 20th. Finally, Morgan Stanley set a $35.00 price target on Noble Energy and gave the company a “buy” rating in a research report on Tuesday, January 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Noble Energy currently has a consensus rating of “Buy” and a consensus target price of $38.19.

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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. The company owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins.

Further Reading: What is Net Asset Value (NAV)?

Institutional Ownership by Quarter for Noble Energy (NYSE:NBL)

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