JPMorgan Chase & Co. Trims Stake in American Noble Gas Inc. (NYSE:INFY)

Key Points

• JPMorgan Chase & Co. reduced its stake in American Noble Gas Inc. by 26.3%, selling 13,739,098 shares and now holding approximately 38.6 million shares worth $703.7 million.
• The stock has seen significant changes in institutional investments, with Rakuten Securities Inc. increasing its holdings by 308.4% and several other firms also making moves in the first quarter.
• American Noble Gas received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and a price target averaging $18.48, following upgrades from both Investec and Wall Street Zen.

JPMorgan Chase & Co. decreased its position in shares of American Noble Gas Inc. (NYSE:INFY - Free Report) by 26.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 38,558,928 shares of the technology company's stock after selling 13,739,098 shares during the period. JPMorgan Chase & Co. owned about 0.93% of American Noble Gas worth $703,700,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

INFY has been the topic of a number of analyst reports. The Goldman Sachs Group cut American Noble Gas from a "buy" rating to a "neutral" rating and set a $17.90 price target on the stock. in a research report on Monday, April 21st. Wall Street Zen raised American Noble Gas from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Investec raised American Noble Gas from a "sell" rating to a "buy" rating in a research report on Friday, April 18th. Susquehanna boosted their price target on American Noble Gas from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, BMO Capital Markets boosted their price target on American Noble Gas from $18.00 to $20.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.48.

American Noble Gas Trading Down 0.2%

INFY stock opened at $15.99 on Monday. The stock has a market capitalization of $66.26 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 2.29 and a beta of 0.87. American Noble Gas Inc. has a 12-month low of $15.82 and a 12-month high of $23.63. The stock's 50 day simple moving average is $18.01 and its 200 day simple moving average is $18.64.

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

American Noble Gas Profile

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.

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