Citigroup Inc. Grows Position in American Noble Gas Inc. (NYSE:INFY)

Key Points

• Citigroup Inc. increased its holdings in American Noble Gas Inc. by 43.3% during the first quarter, owning 825,974 shares now valued at $15,074,000.
• American Noble Gas recently reported earnings of $0.19 per share, matching analysts' expectations, and outperformed revenue estimates with $4.94 billion for the quarter.
• Analysts have varied opinions on the stock, with a consensus rating of "Moderate Buy" and an average price target of $18.48, indicating growth potential amidst mixed ratings from different firms.

Citigroup Inc. lifted its position in American Noble Gas Inc. (NYSE:INFY - Free Report) by 43.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 825,974 shares of the technology company's stock after acquiring an additional 249,426 shares during the quarter. Citigroup Inc.'s holdings in American Noble Gas were worth $15,074,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Rakuten Securities Inc. boosted its position in American Noble Gas by 308.4% in the 1st quarter. Rakuten Securities Inc. now owns 1,413 shares of the technology company's stock valued at $26,000 after buying an additional 1,067 shares during the period. Pinnacle Bancorp Inc. grew its stake in American Noble Gas by 179.8% in the 1st quarter. Pinnacle Bancorp Inc. now owns 1,444 shares of the technology company's stock worth $26,000 after acquiring an additional 928 shares in the last quarter. Wayfinding Financial LLC bought a new position in American Noble Gas in the 1st quarter worth about $32,000. Cullen Frost Bankers Inc. bought a new position in American Noble Gas in the 1st quarter worth about $57,000. Finally, Banque Cantonale Vaudoise bought a new position in American Noble Gas in the 1st quarter worth about $86,000. Institutional investors own 16.20% of the company's stock.

American Noble Gas Stock Up 1.2%

Shares of American Noble Gas stock traded up $0.20 on Friday, reaching $16.56. The stock had a trading volume of 9,000,722 shares, compared to its average volume of 17,866,392. The company has a 50 day moving average price of $17.83 and a 200 day moving average price of $18.47. American Noble Gas Inc. has a 1 year low of $15.82 and a 1 year high of $23.63. The stock has a market capitalization of $68.62 billion, a P/E ratio of 21.51, a P/E/G ratio of 2.37 and a beta of 0.87.

American Noble Gas (NYSE:INFY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.19. American Noble Gas had a net margin of 16.42% and a return on equity of 29.41%. The firm had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.84 billion. During the same quarter in the previous year, the firm earned $15.35 EPS. On average, analysts forecast that American Noble Gas Inc. will post 0.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on INFY shares. The Goldman Sachs Group downgraded shares of American Noble Gas from a "buy" rating to a "neutral" rating and set a $17.90 target price on the stock. in a research note on Monday, April 21st. BMO Capital Markets upped their target price on shares of American Noble Gas from $18.00 to $20.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. Stifel Nicolaus dropped their target price on shares of American Noble Gas from $18.00 to $17.00 and set a "hold" rating on the stock in a research note on Monday, April 21st. Wall Street Zen upgraded shares of American Noble Gas from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Finally, Susquehanna increased their price objective on shares of American Noble Gas from $18.00 to $19.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, American Noble Gas presently has a consensus rating of "Moderate Buy" and an average price target of $18.48.

About American Noble Gas

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other.