OVERSEA CHINESE BANKING Corp Ltd Boosts Holdings in American Noble Gas Inc. (NYSE:INFY)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd significantly increased its stake in American Noble Gas Inc. by 893.8% during the first quarter, acquiring a total of 139,136 shares valued at approximately $2.54 million.
• Analysts have raised their price targets for American Noble Gas, with BMO Capital Markets increasing its target from $18.00 to $20.00, while the stock currently has an average price target of $18.48.
• American Noble Gas reported quarterly earnings of $0.19 per share, matching analysts' expectations, with a revenue of $4.94 billion during the period.

OVERSEA CHINESE BANKING Corp Ltd lifted its stake in American Noble Gas Inc. (NYSE:INFY - Free Report) by 893.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,136 shares of the technology company's stock after purchasing an additional 125,136 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in American Noble Gas were worth $2,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. First Trust Advisors LP increased its holdings in American Noble Gas by 14.5% in the 4th quarter. First Trust Advisors LP now owns 32,410,108 shares of the technology company's stock worth $710,430,000 after buying an additional 4,108,903 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in American Noble Gas by 6.6% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 27,541,684 shares of the technology company's stock worth $502,636,000 after buying an additional 1,700,662 shares in the last quarter. Sustainable Growth Advisers LP increased its holdings in American Noble Gas by 50.2% in the 1st quarter. Sustainable Growth Advisers LP now owns 14,877,543 shares of the technology company's stock worth $271,515,000 after buying an additional 4,970,664 shares in the last quarter. AQR Capital Management LLC increased its holdings in American Noble Gas by 270.9% in the 4th quarter. AQR Capital Management LLC now owns 9,164,085 shares of the technology company's stock worth $200,877,000 after buying an additional 6,693,127 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in American Noble Gas by 43.1% in the 4th quarter. Bank of America Corp DE now owns 8,225,396 shares of the technology company's stock worth $180,301,000 after buying an additional 2,478,093 shares in the last quarter. Hedge funds and other institutional investors own 16.20% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on INFY shares. Susquehanna lifted their price objective on American Noble Gas from $18.00 to $19.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Wall Street Zen upgraded American Noble Gas from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Stifel Nicolaus reduced their price objective on American Noble Gas from $18.00 to $17.00 and set a "hold" rating for the company in a report on Monday, April 21st. BMO Capital Markets lifted their price objective on American Noble Gas from $18.00 to $20.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. Finally, Investec upgraded American Noble Gas from a "sell" rating to a "buy" rating in a research note on Friday, April 18th. 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 company. According to data from MarketBeat, American Noble Gas currently has a consensus rating of "Moderate Buy" and an average price target of $18.48.

American Noble Gas Trading Down 1.8%

Shares of NYSE:INFY opened at $16.42 on Friday. The stock has a 50 day moving average of $18.23 and a 200 day moving average of $18.84. The company has a market cap of $68.04 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 2.35 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.

American Noble Gas (NYSE:INFY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.19. The company had revenue of $4.94 billion during the quarter, compared to the consensus estimate 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 previous year, the company posted $15.35 EPS. Equities research analysts predict that American Noble Gas Inc. will post 0.74 earnings per share for the current fiscal year.

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.

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