Vident Investment Advisory LLC trimmed its position in Noble Energy, Inc. (NYSE:NBL) by 31.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,922 shares of the oil and gas development company’s stock after selling 2,741 shares during the period. Vident Investment Advisory LLC’s holdings in Noble Energy were worth $209,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of NBL. Point72 Asia Hong Kong Ltd grew its stake in shares of Noble Energy by 656.0% in the first quarter. Point72 Asia Hong Kong Ltd now owns 3,833 shares of the oil and gas development company’s stock worth $116,000 after acquiring an additional 3,326 shares during the last quarter. Advisors Preferred LLC purchased a new stake in shares of Noble Energy in the second quarter worth $126,000. Whittier Trust Co. purchased a new stake in shares of Noble Energy in the second quarter worth $163,000. Piedmont Investment Advisors LLC purchased a new stake in shares of Noble Energy in the second quarter worth $200,000. Finally, Ingalls & Snyder LLC purchased a new stake in shares of Noble Energy in the second quarter worth $202,000. 97.61% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently commented on NBL shares. KLR Group reissued a “buy” rating and issued a $61.00 target price on shares of Noble Energy in a research note on Monday, August 20th. Stifel Nicolaus set a $40.00 target price on Noble Energy and gave the stock a “buy” rating in a research note on Friday, August 3rd. Tudor Pickering cut Noble Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 8th. Morgan Stanley started coverage on Noble Energy in a research note on Thursday, July 12th. They issued an “equal weight” rating and a $39.00 target price on the stock. Finally, Bank of America started coverage on Noble Energy in a research note on Tuesday, July 10th. They issued a “buy” rating and a $59.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nineteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $41.75.
Noble Energy (NYSE:NBL) last announced its quarterly earnings results on Friday, August 3rd. The oil and gas development company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.05). The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.15 billion. Noble Energy had a net margin of 19.01% and a return on equity of 2.89%. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 earnings per share. research analysts predict that Noble Energy, Inc. will post 0.99 earnings per share for the current fiscal year.
In other news, VP Gary W. Willingham sold 24,646 shares of the company’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 of the company’s stock, valued at $7,299,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Nbl Midstream, Llc sold 7,475,000 shares of the company’s stock in a transaction on Friday, June 29th. The shares were 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. Corporate insiders own 1.96% of the company’s stock.
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.
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