Noble Energy, Inc. (NYSE:NBL) Shares Bought by Northern Trust Corp

Northern Trust Corp raised its position in shares of Noble Energy, Inc. (NYSE:NBL) by 2.8% during the first quarter, HoldingsChannel reports. The firm owned 5,604,394 shares of the oil and gas development company’s stock after purchasing an additional 153,030 shares during the period. Northern Trust Corp’s holdings in Noble Energy were worth $138,597,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Moody National Bank Trust Division purchased a new stake in Noble Energy during the first quarter valued at about $31,000. Pearl River Capital LLC purchased a new stake in Noble Energy during the fourth quarter valued at about $30,000. Rational Advisors LLC raised its position in Noble Energy by 2,271.8% during the fourth quarter. Rational Advisors LLC now owns 1,684 shares of the oil and gas development company’s stock valued at $32,000 after purchasing an additional 1,613 shares in the last quarter. Truvestments Capital LLC purchased a new stake in Noble Energy during the first quarter valued at about $47,000. Finally, First Mercantile Trust Co. raised its position in Noble Energy by 1,750.0% during the fourth quarter. First Mercantile Trust Co. now owns 2,960 shares of the oil and gas development company’s stock valued at $55,000 after purchasing an additional 2,800 shares in the last quarter. Institutional investors and hedge funds own 99.09% of the company’s stock.

Shares of NBL traded up $0.24 during trading hours on Thursday, hitting $20.60. The company had a trading volume of 42,202 shares, compared to its average volume of 4,972,168. The company has a market cap of $9.84 billion, a P/E ratio of 22.87, a P/E/G ratio of 87.65 and a beta of 1.48. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.66. Noble Energy, Inc. has a 52-week low of $17.11 and a 52-week high of $37.76.

Noble Energy (NYSE:NBL) last released its quarterly earnings data on Friday, May 3rd. The oil and gas development company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.01). The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 18.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 EPS. Equities research analysts forecast that Noble Energy, Inc. will post 0.01 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 6th were issued a $0.12 dividend. The ex-dividend date was Friday, May 3rd. This represents a $0.48 annualized dividend and a dividend yield of 2.33%. This is an increase from Noble Energy’s previous quarterly dividend of $0.11. Noble Energy’s payout ratio is currently 53.33%.

A number of equities research analysts have weighed in on NBL shares. UBS Group set a $34.00 price target on Noble Energy and gave the company a “buy” rating in a research report on Wednesday, February 20th. Imperial Capital set a $39.00 price target on Noble Energy and gave the company a “buy” rating in a research report on Wednesday, February 20th. Stephens set a $35.00 price target on Noble Energy and gave the company a “buy” rating in a research report on Tuesday, February 26th. Mizuho upgraded Noble Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $28.00 to $29.00 in a research report on Tuesday, March 19th. Finally, ValuEngine upgraded Noble Energy from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Noble Energy has an average rating of “Buy” and a consensus price target of $38.48.

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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.

Further Reading: How is Preferred Stock Different from Common Stock?

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

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