Texas Permanent School Fund reduced its holdings in Noble Energy, Inc. (NYSE:NBL) by 3.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 88,787 shares of the oil and gas development company’s stock after selling 3,440 shares during the period. Texas Permanent School Fund’s holdings in Noble Energy were worth $1,994,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. GSA Capital Partners LLP acquired a new position in shares of Noble Energy during the 2nd quarter worth about $498,000. Dupont Capital Management Corp acquired a new position in shares of Noble Energy during the 2nd quarter worth about $427,000. IFM Investors Pty Ltd increased its stake in shares of Noble Energy by 30.5% during the 2nd quarter. IFM Investors Pty Ltd now owns 37,038 shares of the oil and gas development company’s stock worth $830,000 after purchasing an additional 8,664 shares during the last quarter. Comerica Bank increased its stake in shares of Noble Energy by 27.6% during the 2nd quarter. Comerica Bank now owns 117,692 shares of the oil and gas development company’s stock worth $2,421,000 after purchasing an additional 25,466 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Noble Energy by 2.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,192,328 shares of the oil and gas development company’s stock worth $49,109,000 after purchasing an additional 59,028 shares during the last quarter. Hedge funds and other institutional investors own 98.54% of the company’s stock.
Several research analysts have recently weighed in on NBL shares. KeyCorp started coverage on shares of Noble Energy in a research note on Wednesday, July 31st. They set a “sector weight” rating on the stock. ValuEngine upgraded shares of Noble Energy from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Wells Fargo & Co boosted their price objective on shares of Noble Energy from $26.00 to $28.00 and gave the stock a “market perform” rating in a research note on Monday, August 12th. Wolfe Research upgraded shares of Noble Energy from a “peer perform” rating to an “outperform” rating and lowered their price objective for the stock from $31.00 to $30.00 in a research note on Tuesday, October 15th. Finally, Morgan Stanley lowered their price objective on shares of Noble Energy from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $31.14.
Noble Energy (NYSE:NBL) last announced its earnings results on Thursday, November 7th. The oil and gas development company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Noble Energy had a negative net margin of 19.93% and a positive return on equity of 0.87%. Noble Energy’s revenue was down 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 EPS. Sell-side analysts forecast that Noble Energy, Inc. will post -0.38 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Monday, November 4th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Friday, November 1st. Noble Energy’s payout ratio is 53.33%.
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.
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