Kingdon Capital Management L.l.c. Lowers stake in Noble Energy (NBL)

Noble Energy (NBL) : Kingdon Capital Management L.l.c. reduced its stake in Noble Energy by 5.98% during the most recent quarter end. The investment management company now holds a total of 1,202,805 shares of Noble Energy which is valued at $43,421,261 after selling 76,503 shares in Noble Energy , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Noble Energy makes up approximately 2.96% of Kingdon Capital Management L.l.c.’s portfolio.

Other Hedge Funds, Including , Profund Advisors reduced its stake in NBL by selling 7,470 shares or 22.55% in the most recent quarter. The Hedge Fund company now holds 25,661 shares of NBL which is valued at $957,669. Noble Energy makes up approx 0.05% of Profund Advisors’s portfolio.King Luther Capital Management Corp reduced its stake in NBL by selling 3,470 shares or 1.42% in the most recent quarter. The Hedge Fund company now holds 241,603 shares of NBL which is valued at $9,016,624. Noble Energy makes up approx 0.09% of King Luther Capital Management Corp’s portfolio.Advisor Group reduced its stake in NBL by selling 901 shares or 23.39% in the most recent quarter. The Hedge Fund company now holds 2,951 shares of NBL which is valued at $110,899.Bahl Gaynor Inc reduced its stake in NBL by selling 1,700 shares or 15.81% in the most recent quarter. The Hedge Fund company now holds 9,050 shares of NBL which is valued at $339,194.

Noble Energy closed down -0.34 points or -0.96% at $35 with 67,17,282 shares getting traded on Monday. Post opening the session at $35.33, the shares hit an intraday low of $34.9 and an intraday high of $35.675 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Noble Energy reported $-0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.16 according to the earnings call on Nov 1, 2016. Analyst had a consensus of $-0.23. The company had revenue of $910.00 million for the quarter, compared to analysts expectations of $992.41 million. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.21 EPS.

Many Wall Street Analysts have commented on Noble Energy. Shares were Downgraded by Seaport Global Securities on Nov 17, 2016 to ” Neutral” and Lowered the Price Target to $ 38 from a previous price target of $45 .Mizuho Initiated Noble Energy on Oct 14, 2016 to “Buy”, Price Target of the shares are set at $44.

Noble Energy Inc. is an independent energy company engaged in crude oil natural gas and natural gas liquids exploration and production. Its operations are grouped into four components: the United States; West Africa (Equatorial Guinea Cameroon Gabon and Sierra Leone; Eastern Mediterranean (Israel and Cyprus) and Other International and Corporate. Its assets in the United States include DJ Basin Marcellus Shale Deepwater Gulf of Mexico and Other Onshore US. The onshore West Africa includes the Alba field Block O and Block I offshore Equatorial Guinea the YoYo mining concession and Tilapia PSC offshore Cameroon two blocks offshore Sierra Leone and one block offshore Gabon. In the Eastern Mediterranean it has six leases and five licenses operated offshore Israel and one license operated offshore Cyprus. Other International includes various international new ventures such as offshore Nicaragua and offshore Falkland Islands.

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