Comerica Bank Lowers Stake in Noble Energy, Inc. (NBL)

Comerica Bank reduced its position in Noble Energy, Inc. (NYSE:NBL) by 0.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 92,226 shares of the oil and gas development company’s stock after selling 715 shares during the period. Comerica Bank’s holdings in Noble Energy were worth $2,327,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Moody National Bank Trust Division acquired a new stake in shares of Noble Energy in the 1st quarter valued at $31,000. Huntington National Bank increased its stake in shares of Noble Energy by 59.2% in the 4th quarter. Huntington National Bank now owns 1,430 shares of the oil and gas development company’s stock valued at $27,000 after buying an additional 532 shares during the period. Pearl River Capital LLC acquired a new stake in shares of Noble Energy in the 4th quarter valued at $30,000. Rational Advisors LLC increased its stake in shares of Noble Energy by 2,271.8% in the 4th quarter. Rational Advisors LLC now owns 1,684 shares of the oil and gas development company’s stock valued at $32,000 after buying an additional 1,613 shares during the period. Finally, Truvestments Capital LLC acquired a new stake in shares of Noble Energy in the 1st quarter valued at $47,000. 98.80% of the stock is owned by institutional investors.

Shares of Noble Energy stock opened at $21.70 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. Noble Energy, Inc. has a 12 month low of $17.11 and a 12 month high of $37.76. The firm has a market cap of $10.41 billion, a P/E ratio of 24.11 and a beta of 1.38.

Noble Energy (NYSE:NBL) last announced its quarterly earnings data 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 company had revenue of $1.05 billion for 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 firm’s revenue for the quarter was down 18.2% on a year-over-year basis. During the same period last year, the firm earned $0.35 earnings per share. As a group, equities research analysts anticipate that Noble Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 6th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 3rd. This is a positive change from Noble Energy’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 2.21%. Noble Energy’s payout ratio is currently 53.33%.

NBL has been the subject of several research reports. Morgan Stanley set a $35.00 target price on Noble Energy and gave the company a “buy” rating in a research note on Tuesday, January 29th. ValuEngine cut Noble Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 4th. JPMorgan Chase & Co. raised Noble Energy from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $28.00 to $32.00 in a research note on Monday, April 29th. UBS Group set a $34.00 price objective on Noble Energy and gave the stock a “buy” rating in a research note on Wednesday, February 20th. Finally, Imperial Capital set a $39.00 price objective on Noble Energy and gave the stock a “buy” rating in a research note on Wednesday, February 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $37.71.

In other Noble Energy news, Director James E. Craddock sold 9,000 shares of Noble Energy stock in a transaction dated 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 document filed with the SEC, which can be accessed through this link. Insiders own 1.81% of the company’s stock.

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

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