LPL Financial LLC Raises Holdings in American Noble Gas Inc. (NYSE:INFY)

Key Points

• LPL Financial LLC increased its stake in American Noble Gas Inc. by 21.1% during the first quarter, owning a total of 292,857 shares valued at approximately $5.34 million.
• Other institutional investors, including Rakuten Securities Inc. and Pinnacle Bancorp Inc., significantly raised their positions, with Rakuten increasing its stake by 308.4%.
• American Noble Gas reported quarterly earnings of $0.19 EPS, meeting expectations, and generated $4.94 billion in revenue, surpassing the anticipated $4.84 billion.

LPL Financial LLC boosted its holdings in shares of American Noble Gas Inc. (NYSE:INFY - Free Report) by 21.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 292,857 shares of the technology company's stock after acquiring an additional 50,930 shares during the quarter. LPL Financial LLC's holdings in American Noble Gas were worth $5,345,000 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 the business. Rakuten Securities Inc. lifted its stake in American Noble Gas by 308.4% during the first quarter. Rakuten Securities Inc. now owns 1,413 shares of the technology company's stock worth $26,000 after purchasing an additional 1,067 shares in the last quarter. Pinnacle Bancorp Inc. lifted its stake in American Noble Gas by 179.8% during the first 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 acquired a new position in American Noble Gas during the first quarter worth $32,000. Cullen Frost Bankers Inc. acquired a new position in American Noble Gas during the first quarter worth $57,000. Finally, GAMMA Investing LLC lifted its stake in American Noble Gas by 32.4% during the first quarter. GAMMA Investing LLC now owns 5,951 shares of the technology company's stock worth $109,000 after purchasing an additional 1,455 shares in the last quarter. Institutional investors and hedge funds own 16.20% of the company's stock.

Wall Street Analysts Forecast Growth

INFY has been the topic of a number of research reports. Susquehanna upped their price target on American Noble Gas from $18.00 to $19.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Investec upgraded American Noble Gas from a "sell" rating to a "buy" rating in a research note on Friday, April 18th. Stifel Nicolaus reduced their price objective on 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. BMO Capital Markets increased their price objective on American Noble Gas from $18.00 to $20.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group cut American Noble Gas from a "buy" rating to a "neutral" rating and set a $17.90 price objective on the stock. in a research note on Monday, April 21st. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $18.48.

American Noble Gas Stock Up 1.2%

American Noble Gas stock traded up $0.20 during midday trading on Friday, reaching $16.56. The company's stock had a trading volume of 9,000,722 shares, compared to its average volume of 12,434,061. American Noble Gas Inc. has a fifty-two week low of $15.82 and a fifty-two week high of $23.63. The company has a market cap of $68.62 billion, a P/E ratio of 21.51, a P/E/G ratio of 2.34 and a beta of 0.87. The business has a 50-day simple moving average of $17.86 and a 200-day simple moving average of $18.53.

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 the consensus estimate of $0.19. The company had revenue of $4.94 billion for the quarter, compared to analyst estimates 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 quarter last year, the company posted $15.35 earnings per share. As a group, equities analysts forecast 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.