California Public Employees Retirement System Cuts Holdings in Noble Energy, Inc. (NBL)

California Public Employees Retirement System lowered its position in Noble Energy, Inc. (NYSE:NBL) by 2.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,040,653 shares of the oil and gas development company’s stock after selling 30,251 shares during the period. California Public Employees Retirement System’s holdings in Noble Energy were worth $25,735,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Eagle Boston Investment Management Inc. lifted its position in Noble Energy by 1.2% in the first quarter. Eagle Boston Investment Management Inc. now owns 42,833 shares of the oil and gas development company’s stock valued at $1,059,000 after purchasing an additional 524 shares during the last quarter. Huntington National Bank lifted its position in Noble Energy by 59.2% in the fourth quarter. Huntington National Bank now owns 1,430 shares of the oil and gas development company’s stock valued at $27,000 after purchasing an additional 532 shares during the last quarter. LS Investment Advisors LLC lifted its position in Noble Energy by 3.2% in the first quarter. LS Investment Advisors LLC now owns 23,856 shares of the oil and gas development company’s stock valued at $590,000 after purchasing an additional 737 shares during the last quarter. M&T Bank Corp lifted its position in Noble Energy by 2.5% in the fourth quarter. M&T Bank Corp now owns 31,260 shares of the oil and gas development company’s stock valued at $587,000 after purchasing an additional 771 shares during the last quarter. Finally, BOKF NA lifted its position in Noble Energy by 4.3% in the fourth quarter. BOKF NA now owns 19,160 shares of the oil and gas development company’s stock valued at $360,000 after purchasing an additional 794 shares during the last quarter. 98.57% of the stock is owned by institutional investors and hedge funds.

Shares of Noble Energy stock opened at $24.50 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.66. The company has a market cap of $11.23 billion, a P/E ratio of 27.22 and a beta of 1.38. Noble Energy, Inc. has a 52 week low of $17.11 and a 52 week high of $37.76.

Noble Energy (NYSE:NBL) last announced its earnings results on Friday, May 3rd. The oil and gas development company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1 billion. Noble Energy had a negative net margin of 19.63% and a positive return on equity of 2.05%. Noble Energy’s revenue was down 18.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.35 EPS. On average, equities analysts predict that Noble Energy, Inc. will post 0.09 earnings per share for the current fiscal 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 issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, May 3rd. This is an increase from Noble Energy’s previous quarterly dividend of $0.11. Noble Energy’s dividend payout ratio is currently 53.33%.

Several analysts have weighed in on the company. ValuEngine upgraded Noble Energy from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Mitsubishi UFJ Financial Group lowered their price objective on Noble Energy to $34.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. TD Securities lowered their price objective on Noble Energy from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, May 6th. Stephens set a $35.00 price objective on Noble Energy and gave the company a “buy” rating in a research report on Tuesday, February 26th. Finally, Mizuho upgraded Noble Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $28.00 to $29.00 in a research report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $38.19.

In related news, Director James E. Craddock sold 9,000 shares of the company’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.81% of the stock is owned by corporate insiders.

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Noble Energy Profile

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.

Read More: Intrinsic Value

Want to see what other hedge funds are holding NBL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Noble Energy, Inc. (NYSE:NBL).

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

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