Guinness Atkinson Asset Management Inc decreased its stake in Noble Energy Inc. (NYSE:NBL) by 8.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,070 shares of the oil and gas development company’s stock after selling 4,000 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in Noble Energy were worth $1,162,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NBL. Fifth Third Bancorp increased its position in Noble Energy by 5.5% in the first quarter. Fifth Third Bancorp now owns 2,913 shares of the oil and gas development company’s stock valued at $100,000 after buying an additional 153 shares during the period. Private Advisor Group LLC bought a new position in Noble Energy during the first quarter valued at $132,000. Harbour Capital Advisors LLC bought a new position in Noble Energy during the first quarter valued at $136,000. Global X Management Co. LLC increased its position in Noble Energy by 30.1% in the first quarter. Global X Management Co. LLC now owns 5,702 shares of the oil and gas development company’s stock valued at $196,000 after buying an additional 1,319 shares during the period. Finally, Highbridge Capital Management LLC bought a new position in Noble Energy during the first quarter valued at $201,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.
Shares of Noble Energy Inc. (NBL) traded up 1.63% during mid-day trading on Monday, hitting $27.44. 1,459,793 shares of the stock were exchanged. Noble Energy Inc. has a one year low of $26.56 and a one year high of $42.03. The stock’s market cap is $11.83 billion. The company has a 50-day moving average of $29.51 and a 200 day moving average of $34.69.
Noble Energy (NYSE:NBL) last issued its quarterly earnings results on Monday, May 1st. The oil and gas development company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.09. Noble Energy had a negative net margin of 17.75% and a negative return on equity of 0.44%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $974.54 million. During the same quarter in the prior year, the business posted ($0.53) earnings per share. Noble Energy’s revenue for the quarter was up 43.1% compared to the same quarter last year. On average, equities analysts predict that Noble Energy Inc. will post ($0.07) earnings per share for the current year.
NBL has been the subject of several research analyst reports. Bank of America Corporation upgraded shares of Noble Energy from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $53.00 to $49.00 in a research report on Thursday, May 11th. Credit Suisse Group restated a “buy” rating and set a $44.00 price target on shares of Noble Energy in a research report on Thursday, April 27th. Royal Bank of Canada restated a “buy” rating and set a $48.00 price target on shares of Noble Energy in a research report on Tuesday, April 25th. KLR Group restated a “buy” rating on shares of Noble Energy in a research report on Monday, March 13th. Finally, Jefferies Group LLC set a $40.00 price target on shares of Noble Energy and gave the stock a “buy” rating in a research report on Wednesday, May 17th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $43.48.
Noble Energy Company Profile
Noble Energy, Inc is an independent energy company. The Company is engaged in crude oil, natural gas and natural gas and natural gas liquids (NGLs) exploration, development, production and acquisition. The Company’s segments include: United States, including the onshore DJ Basin, Permian Basin, Eagle Ford Shale, Marcellus Shale and offshore deepwater Gulf of Mexico, as well as the consolidated accounts of Noble Midstream Partners LP (Noble Midstream Partners); Eastern Mediterranean, including offshore Israel and Cyprus; West Africa, including offshore Equatorial Guinea, Cameroon and Gabon, and Other International and Corporate, including new ventures, such as offshore the Falkland Islands, Suriname and Newfoundland.
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