Worldquant Millennium Quantitative Strategies LLC Takes $6.69 Million Position in Noble Energy, Inc. (NBL)

Worldquant Millennium Quantitative Strategies LLC bought a new stake in shares of Noble Energy, Inc. (NYSE:NBL) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 189,619 shares of the oil and gas development company’s stock, valued at approximately $6,690,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NBL. Mackay Shields LLC bought a new stake in Noble Energy during the 1st quarter valued at $2,482,000. M&T Bank Corp raised its position in shares of Noble Energy by 23.3% in the 1st quarter. M&T Bank Corp now owns 30,411 shares of the oil and gas development company’s stock worth $921,000 after acquiring an additional 5,741 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Noble Energy by 18.5% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 109,796 shares of the oil and gas development company’s stock worth $3,326,000 after acquiring an additional 17,175 shares in the last quarter. State of Wisconsin Investment Board raised its position in shares of Noble Energy by 40.5% in the 1st quarter. State of Wisconsin Investment Board now owns 561,649 shares of the oil and gas development company’s stock worth $17,018,000 after acquiring an additional 161,783 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Noble Energy by 6.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,836,530 shares of the oil and gas development company’s stock worth $55,647,000 after acquiring an additional 110,550 shares in the last quarter. 97.65% of the stock is owned by institutional investors and hedge funds.

In related news, VP Gary W. Willingham sold 24,646 shares of the business’s stock in a transaction on Tuesday, July 10th. The stock was sold at an average price of $37.50, for a total transaction of $924,225.00. Following the transaction, the vice president now directly owns 194,640 shares in the company, valued at approximately $7,299,000. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Nbl Midstream, Llc sold 7,475,000 shares of the business’s stock in a transaction on Friday, June 29th. The stock was sold at an average price of $18.03, for a total value of $134,774,250.00. The disclosure for this sale can be found here. 1.96% of the stock is owned by insiders.

Shares of NBL stock opened at $29.38 on Friday. Noble Energy, Inc. has a 1-year low of $24.28 and a 1-year high of $37.76. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.58. The firm has a market cap of $14.14 billion, a P/E ratio of 94.77, a price-to-earnings-growth ratio of 2.90 and a beta of 1.01.

Noble Energy (NYSE:NBL) last announced its earnings results on Friday, August 3rd. The oil and gas development company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.05). Noble Energy had a return on equity of 2.89% and a net margin of 19.01%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the firm earned $0.05 earnings per share. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. equities research analysts forecast that Noble Energy, Inc. will post 1.01 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 20th. Investors of record on Monday, August 6th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $0.44 annualized dividend and a yield of 1.50%. Noble Energy’s dividend payout ratio (DPR) is 141.94%.

Several research analysts have recently commented on the company. TD Securities assumed coverage on Noble Energy in a research report on Thursday, July 5th. They issued a “buy” rating and a $45.00 price target for the company. Credit Suisse Group boosted their price target on Noble Energy from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Sunday, May 20th. Mizuho lowered Noble Energy from a “buy” rating to a “neutral” rating and set a $40.00 price target for the company. in a research report on Monday, August 6th. SunTrust Banks assumed coverage on Noble Energy in a research report on Friday, May 18th. They issued a “buy” rating and a $42.00 price target for the company. Finally, Barclays assumed coverage on Noble Energy in a research report on Wednesday, August 29th. They issued an “underweight” rating and a $33.00 price target for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nineteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $41.75.

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. It owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins. It principal projects are primarily located in the US unconventional basins and various global offshore conventional basins.

Recommended Story: Technical Analysis of Stocks, How Can It Help

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.

Leave a Reply