Metropolitan Life Insurance Co. NY lessened its stake in Noble Energy, Inc. (NYSE:NBL) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,180 shares of the oil and gas development company’s stock after selling 3,216 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Noble Energy were worth $2,582,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Whittier Trust Co. bought a new position in Noble Energy in the 2nd quarter worth approximately $163,000. Advisors Preferred LLC bought a new position in Noble Energy in the 2nd quarter worth approximately $126,000. Point72 Asia Hong Kong Ltd raised its position in Noble Energy by 656.0% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 3,833 shares of the oil and gas development company’s stock worth $116,000 after purchasing an additional 3,326 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in Noble Energy in the 2nd quarter worth approximately $200,000. Finally, Ingalls & Snyder LLC bought a new position in Noble Energy in the 2nd quarter worth approximately $202,000. Hedge funds and other institutional investors own 97.62% of the company’s stock.

In other news, major shareholder Nbl Midstream, Llc sold 7,475,000 shares of the business’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gary W. Willingham sold 24,646 shares of the business’s stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $37.50, for a total transaction of $924,225.00. Following the completion of the transaction, the vice president now directly owns 194,640 shares of the company’s stock, valued at approximately $7,299,000. The disclosure for this sale can be found here. 1.96% of the stock is owned by insiders.

Several research analysts recently weighed in on NBL shares. TD Securities set a $43.00 price objective on shares of Noble Energy and gave the stock a “buy” rating in a research report on Sunday, August 5th. Stifel Nicolaus set a $40.00 price objective on shares of Noble Energy and gave the stock a “buy” rating in a research report on Friday, August 3rd. Royal Bank of Canada restated a “buy” rating and issued a $44.00 price objective on shares of Noble Energy in a research report on Friday, August 3rd. Mizuho started coverage on shares of Noble Energy in a research report on Monday, July 23rd. They issued a “buy” rating and a $51.00 price objective for the company. Finally, Bank of America began coverage on shares of Noble Energy in a research report on Tuesday, July 10th. They issued a “buy” rating and a $59.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nineteen have assigned a buy rating to the stock. Noble Energy has a consensus rating of “Buy” and a consensus price target of $41.75.

Shares of Noble Energy stock opened at $29.73 on Tuesday. Noble Energy, Inc. has a 52 week low of $24.28 and a 52 week high of $37.76. The firm has a market cap of $14.19 billion, a price-to-earnings ratio of 95.90, a price-to-earnings-growth ratio of 2.91 and a beta of 1.02. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.76 and a quick ratio of 0.76.

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 the consensus estimate of $0.22 by ($0.05). Noble Energy had a net margin of 19.01% and a return on equity of 2.89%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the firm earned $0.05 EPS. Noble Energy’s quarterly revenue was up 16.1% on a year-over-year basis. sell-side analysts forecast that Noble Energy, Inc. will post 1.01 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, August 20th. Stockholders of record on Monday, August 6th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Friday, August 3rd. Noble Energy’s dividend payout ratio (DPR) is 141.94%.

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.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

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

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