Investors Sell Noble Energy Inc. (NBL) on Strength (NBL)

Traders sold shares of Noble Energy Inc. (NYSE:NBL) on strength during trading on Friday. $16.63 million flowed into the stock on the tick-up and $182.23 million flowed out of the stock on the tick-down, for a money net flow of $165.60 million out of the stock. Of all equities tracked, Noble Energy had the 0th highest net out-flow for the day. Noble Energy traded up $0.07 for the day and closed at $26.05

Several analysts have recently issued reports on NBL shares. BidaskClub raised Noble Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Cowen and Company set a $35.00 target price on Noble Energy and gave the stock a “buy” rating in a report on Tuesday, July 18th. Scotiabank set a $38.00 target price on Noble Energy and gave the stock a “hold” rating in a report on Thursday, August 3rd. Seaport Global Securities raised Noble Energy from a “sell” rating to a “neutral” rating and increased their target price for the stock from $23.00 to $26.00 in a report on Friday, August 11th. Finally, ValuEngine downgraded Noble Energy from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Noble Energy currently has a consensus rating of “Buy” and a consensus price target of $42.07.

The firm’s 50 day moving average is $25.02 and its 200 day moving average is $29.84. The company’s market capitalization is $12.30 billion.

Noble Energy (NYSE:NBL) last released its earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.18. Noble Energy had a positive return on equity of 0.86% and a negative net margin of 46.63%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the company posted ($0.24) EPS. Noble Energy’s revenue for the quarter was up 25.0% on a year-over-year basis. Equities analysts expect that Noble Energy Inc. will post ($0.15) EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Monday, August 7th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Thursday, August 3rd. Noble Energy’s dividend payout ratio (DPR) is presently -9.90%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital World Investors lifted its stake in shares of Noble Energy by 20.8% in the 2nd quarter. Capital World Investors now owns 55,184,801 shares of the oil and gas development company’s stock valued at $1,561,730,000 after acquiring an additional 9,488,951 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Noble Energy by 29.8% in the 2nd quarter. Vanguard Group Inc. now owns 38,933,217 shares of the oil and gas development company’s stock valued at $1,101,810,000 after acquiring an additional 8,933,476 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Noble Energy by 7.4% in the 2nd quarter. BlackRock Inc. now owns 32,231,480 shares of the oil and gas development company’s stock valued at $912,152,000 after acquiring an additional 2,211,439 shares during the last quarter. State Street Corp lifted its stake in shares of Noble Energy by 5.7% in the 2nd quarter. State Street Corp now owns 27,225,558 shares of the oil and gas development company’s stock valued at $770,487,000 after acquiring an additional 1,471,064 shares during the last quarter. Finally, Ares Management LLC bought a new stake in shares of Noble Energy in the 2nd quarter valued at about $499,364,000. 91.83% of the stock is owned by institutional investors.

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About Noble Energy

Noble Energy, Inc is an independent energy company. The Company is engaged in crude oil, natural gas and natural gas and natural gas liquids (NGLs) exploration, development, production and acquisition. The Company’s segments include: United States, including the onshore DJ Basin, Permian Basin, Eagle Ford Shale, Marcellus Shale and offshore deepwater Gulf of Mexico, as well as the consolidated accounts of Noble Midstream Partners LP (Noble Midstream Partners); Eastern Mediterranean, including offshore Israel and Cyprus; West Africa, including offshore Equatorial Guinea, Cameroon and Gabon, and Other International and Corporate, including new ventures, such as offshore the Falkland Islands, Suriname and Newfoundland.

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