Insider Selling: Noble Energy Inc. (NBL) Director Sells 300,000 Shares of Stock
Noble Energy Inc. (NYSE:NBL) Director Thomas J. Edelman sold 300,000 shares of Noble Energy stock in a transaction on Monday, November 13th. The stock was sold at an average price of $27.83, for a total value of $8,349,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Noble Energy Inc. (NYSE NBL) traded down $0.58 during trading hours on Tuesday, hitting $27.53. The stock had a trading volume of 3,316,600 shares, compared to its average volume of 5,209,027. The company has a market capitalization of $13,080.00, a PE ratio of 117.13 and a beta of 1.18. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.95 and a current ratio of 0.95. Noble Energy Inc. has a 52 week low of $22.99 and a 52 week high of $42.03.
Noble Energy (NYSE:NBL) last released its quarterly earnings results on Monday, October 30th. The oil and gas development company reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.11. The company had revenue of $960.00 million for the quarter, compared to analysts’ expectations of $961.61 million. Noble Energy had a positive return on equity of 1.06% and a negative net margin of 45.85%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.07) earnings per share. equities analysts forecast that Noble Energy Inc. will post -0.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 6th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, November 3rd. Noble Energy’s dividend payout ratio (DPR) is currently -10.03%.
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Several large investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its holdings in shares of Noble Energy by 0.4% during the first quarter. HighTower Advisors LLC now owns 12,644 shares of the oil and gas development company’s stock worth $434,000 after purchasing an additional 52 shares during the last quarter. Cadence Capital Management LLC grew its holdings in shares of Noble Energy by 1.0% during the second quarter. Cadence Capital Management LLC now owns 15,922 shares of the oil and gas development company’s stock worth $451,000 after purchasing an additional 163 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Noble Energy by 3.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 9,135 shares of the oil and gas development company’s stock worth $259,000 after purchasing an additional 293 shares during the last quarter. Norway Savings Bank boosted its holdings in Noble Energy by 1.9% in the second quarter. Norway Savings Bank now owns 15,985 shares of the oil and gas development company’s stock valued at $452,000 after acquiring an additional 300 shares during the last quarter. Finally, Energy Opportunities Capital Management LLC boosted its holdings in Noble Energy by 0.4% in the second quarter. Energy Opportunities Capital Management LLC now owns 68,867 shares of the oil and gas development company’s stock valued at $1,949,000 after acquiring an additional 305 shares during the last quarter. Institutional investors own 91.49% of the company’s stock.
NBL has been the subject of a number of research reports. BMO Capital Markets set a $33.00 target price on Noble Energy and gave the stock a “buy” rating in a report on Tuesday, October 10th. Piper Jaffray Companies dropped their target price on Noble Energy from $47.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, September 18th. Cowen and Company set a $35.00 target price on Noble Energy and gave the stock a “buy” rating in a report on Tuesday, July 18th. Scotiabank set a $38.00 target price on Noble Energy and gave the stock a “hold” rating in a report on Thursday, August 3rd. Finally, Morgan Stanley lifted their target price on Noble Energy from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $40.66.
Noble Energy Company Profile
Noble Energy, Inc is an independent energy company. The Company is engaged in crude oil, natural gas and natural gas and natural gas liquids (NGLs) exploration, development, production and acquisition. The Company’s segments include: United States, including the onshore DJ Basin, Permian Basin, Eagle Ford Shale, Marcellus Shale and offshore deepwater Gulf of Mexico, as well as the consolidated accounts of Noble Midstream Partners LP (Noble Midstream Partners); Eastern Mediterranean, including offshore Israel and Cyprus; West Africa, including offshore Equatorial Guinea, Cameroon and Gabon, and Other International and Corporate, including new ventures, such as offshore the Falkland Islands, Suriname and Newfoundland.
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