Sumitomo Life Insurance Co. Lowers Holdings in Noble Energy, Inc. (NYSE:NBL)

Sumitomo Life Insurance Co. lessened its stake in shares of Noble Energy, Inc. (NYSE:NBL) by 9.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,797 shares of the oil and gas development company’s stock after selling 5,264 shares during the period. Sumitomo Life Insurance Co.’s holdings in Noble Energy were worth $1,182,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of NBL. Norges Bank purchased a new position in shares of Noble Energy during the 4th quarter worth $81,451,000. Boston Partners increased its position in shares of Noble Energy by 36.8% during the 4th quarter. Boston Partners now owns 14,419,600 shares of the oil and gas development company’s stock worth $270,511,000 after purchasing an additional 3,881,212 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Noble Energy by 1,843.9% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,948,365 shares of the oil and gas development company’s stock worth $55,311,000 after purchasing an additional 2,796,692 shares during the last quarter. Lord Abbett & CO. LLC increased its position in shares of Noble Energy by 228.2% during the 4th quarter. Lord Abbett & CO. LLC now owns 3,883,465 shares of the oil and gas development company’s stock worth $72,854,000 after purchasing an additional 2,700,096 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Noble Energy by 714.6% during the 4th quarter. Millennium Management LLC now owns 2,844,076 shares of the oil and gas development company’s stock worth $53,355,000 after purchasing an additional 2,494,948 shares during the last quarter. Institutional investors and hedge funds own 97.74% of the company’s stock.

Shares of NBL traded down $0.23 during midday trading on Friday, hitting $24.11. The company had a trading volume of 4,876,139 shares, compared to its average volume of 6,377,414. The stock has a market capitalization of $11.64 billion, a PE ratio of 26.79 and a beta of 1.38. Noble Energy, Inc. has a 1 year low of $17.11 and a 1 year high of $37.76. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 0.64.

Noble Energy (NYSE:NBL) last posted its earnings results on Friday, May 3rd. The oil and gas development company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1 billion. Noble Energy had a positive return on equity of 2.05% and a negative net margin of 19.63%. Noble Energy’s revenue for the quarter was down 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 EPS. Analysts predict that Noble Energy, Inc. will post 0.08 EPS for the current year.

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

In related news, Director James E. Craddock sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $23.62, for a total transaction of $212,580.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.81% of the stock is owned by insiders.

A number of analysts recently issued reports on NBL shares. Barclays raised Noble Energy from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $26.00 to $33.00 in a research report on Tuesday, April 30th. Morgan Stanley set a $35.00 price objective on Noble Energy and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Imperial Capital set a $39.00 target price on Noble Energy and gave the company a “buy” rating in a research report on Wednesday, February 20th. 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. Finally, ValuEngine raised Noble Energy from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $38.19.

COPYRIGHT VIOLATION NOTICE: This piece of content was posted by Baseball Daily News and is the sole property of of Baseball Daily News. If you are viewing this piece of content on another website, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The correct version of this piece of content can be accessed at https://www.baseballdailydigest.com/news/2019/05/11/noble-energy-inc-nbl-shares-sold-by-sumitomo-life-insurance-co.html.

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.

Recommended Story: What is a bull market?

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

Receive News & Ratings for Noble Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noble Energy and related companies with MarketBeat.com's FREE daily email newsletter.