Institutional Heavyweight Snaps Up More of This Energy Stock

NE -0.23%

Key Points

• Bought 699,395 shares, raising position value by $20.44 million

• Post-trade stake: 1,081,635 shares valued at $30.59 million

• Position now accounts for 3.7% of AUM, placing it outside the fund's top five holdings

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On Nov. 7, 2025, Goehring & Rozencwajg Associates, LLC disclosed a purchase of 699,395 shares in Noble (NYSE:NE), increasing its position by an estimated $20.44 million.

What Happened

According to a filing with the U.S. Securities and Exchange Commission dated Nov. 7, 2025, Goehring & Rozencwajg Associates, LLC increased its holding in Noble by 699,395 shares compared to the prior quarter. The post-trade position reached 1,081,635 shares, valued at $30.59 million as of Sept. 30, 2025.

What Else to Know

The fund increased its stake, with Noble now representing 3.7% of 13F assets under management.

Top holdings after the filing:

• CCJ: $54.37 million (6.5% of AUM)

• RRC: $53.12 million (6.4% of AUM)

• SDRL: $51.21 million (6.2% of AUM)

• LEU: $49.92 million (6.0% of AUM)

• NTR: $45.81 million (5.5% of AUM)

As of Nov. 7, 2025, shares were priced at $29.23; the one-year return was -9.1%. Shares have underperformed the S&P 500 by 22.8 percentage points.

Company Overview

Metric

Value

Market capitalization

$4.64 billion

Revenue (TTM)

$3.45 billion

Net income (TTM)

$226.73 million

Dividend yield

6.7%

Company Snapshot

• Provides offshore contract drilling services with a fleet of mobile offshore drilling units, including floaters and jackups

• Generates revenue primarily through long-term contracts with oil and gas companies for offshore exploration and production

• Serves major integrated oil companies, national oil companies, and independent exploration and production firms worldwide

Noble is a leading offshore drilling contractor with a global presence and a diversified fleet. The company leverages operational expertise and modern assets to deliver reliable drilling services to the energy sector. Its competitive advantage is rooted in scale, technical capabilities, and long-standing customer relationships.

Foolish Take

According to a recently filed 13F disclosure form, Goehring & Rozencwajg Associates, a New York-based investment firm, acquired nearly 700,000 shares of Noble stock during the third quarter (the three months ending on September 30, 2025). Here's what it means for average investors.

First off, this was a significant purchase. Goehring & Rozencwajg ('the firm'), more than tripled its position in Noble during the third quarter. This raised the value of the firm's total holdings of Noble stock to around $30.6 million. In turn, Noble is now the firm's 11th-largest holding, up from 26th-largest in the prior quarter.

Yet, despite this impressive show of confidence from the firm, retail investors may wish to proceed with caution. Noble stock has underperformed the benchmark S&P 500 index for years. Moreover, there are more diversified options that offer exposure to the oil services industry.

Take the VanEck Oil Services ETF (OIH) for example. This ETF has delivered similar returns to Noble stock over the last three years, but offers diversification within the sector.

In summary, average investors should know that despite this bullish move by a major institutional player, Noble stock is far from a sure bet. What's more, ETF alternatives, such as the OIH can provide much-needed diversification which can benefit some investors and portfolios.

Glossary

13F assets under management (AUM): Assets reported in a fund's quarterly SEC Form 13F filing, covering U.S.-listed securities.

Alpha: A measure of an investment's performance relative to a benchmark, showing value added or lost by active management.

Dividend yield: Annual dividends paid by a company divided by its share price, expressed as a percentage.

Jackups: Mobile offshore drilling rigs with legs that can be raised or lowered to rest on the sea floor for stability.

Floaters: Offshore drilling rigs that float on the water's surface and are anchored or dynamically positioned.

Long-term contracts: Agreements lasting several years, providing stable revenue by securing services or products over an extended period.

Integrated oil companies: Large firms involved in all stages of oil and gas production, from exploration to refining and distribution.

National oil companies: State-owned enterprises that control and manage a country's oil and gas resources.

TTM: The 12-month period ending with the most recent quarterly report.

Stake: The ownership interest or shareholding a person or entity holds in a company.

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Jake Lerch has no position in any of the stocks mentioned. The Motley Fool recommends Cameco, Noble Plc, and Nutrien. The Motley Fool has a disclosure policy.

Institutional Heavyweight Snaps Up More of This Energy Stock was originally published by The Motley Fool