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.
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.
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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.
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