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Envestnet Asset Management Inc. Acquires 32,678 Shares of Noble Energy, Inc. (NYSE:NBL)

By September 3, 2019 No Comments

Envestnet Asset Management Inc. boosted its holdings in Noble Energy, Inc. (NYSE:NBL) by 18.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 208,560 shares of the oil and gas development company’s stock after purchasing an additional 32,678 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Noble Energy were worth $4,672,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of Noble Energy by 0.3% during the 1st quarter. BlackRock Inc. now owns 33,299,281 shares of the oil and gas development company’s stock valued at $823,491,000 after acquiring an additional 103,574 shares during the last quarter. Boston Partners lifted its position in shares of Noble Energy by 53.6% in the 1st quarter. Boston Partners now owns 22,144,841 shares of the oil and gas development company’s stock worth $547,642,000 after acquiring an additional 7,725,241 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Noble Energy by 9.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,173,152 shares of the oil and gas development company’s stock worth $115,802,000 after acquiring an additional 528,212 shares during the period. Geode Capital Management LLC lifted its position in shares of Noble Energy by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 6,154,920 shares of the oil and gas development company’s stock worth $115,261,000 after acquiring an additional 425,920 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Noble Energy by 2.8% during the 1st quarter. Northern Trust Corp now owns 5,604,394 shares of the oil and gas development company’s stock worth $138,597,000 after buying an additional 153,030 shares during the period. Institutional investors and hedge funds own 99.36% of the company’s stock.

NBL has been the subject of a number of recent analyst reports. UBS Group set a $34.00 price target on Noble Energy and gave the company a “buy” rating in a report on Thursday, May 16th. Morgan Stanley lowered their target price on Noble Energy from $33.00 to $30.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Mitsubishi UFJ Financial Group lowered their target price on Noble Energy to $34.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. Wells Fargo & Co raised their price target on Noble Energy from $26.00 to $28.00 and gave the stock a “market perform” rating in a research report on Monday, August 12th. Finally, Capital One Financial upgraded Noble Energy from an “equal weight” rating to an “overweight” rating in a report on Thursday, May 23rd. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $32.21.

NBL traded down $0.84 during midday trading on Tuesday, hitting $21.74. The company’s stock had a trading volume of 75,157 shares, compared to its average volume of 5,022,766. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.68. Noble Energy, Inc. has a 52-week low of $17.11 and a 52-week high of $32.73. The firm has a market cap of $10.80 billion, a P/E ratio of 24.20 and a beta of 1.36. The firm has a 50-day moving average price of $21.64 and a two-hundred day moving average price of $22.98.

Noble Energy (NYSE:NBL) last issued its earnings results on Friday, August 2nd. The oil and gas development company reported ($0.10) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.03. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Noble Energy had a positive return on equity of 0.87% and a negative net margin of 19.93%. During the same quarter in the previous year, the business earned $0.17 EPS. On average, equities analysts expect that Noble Energy, Inc. will post -0.34 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were issued a $0.12 dividend. The ex-dividend date was Friday, August 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.21%. Noble Energy’s dividend payout ratio (DPR) is 53.33%.

Noble Energy Company 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: What is the Current Ratio?

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

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