Traders Sell Noble Energy (NBL) on Strength (NBL)
Traders sold shares of Noble Energy (NYSE:NBL) on strength during trading hours on Monday. $13.16 million flowed into the stock on the tick-up and $72.83 million flowed out of the stock on the tick-down, for a money net flow of $59.67 million out of the stock. Of all companies tracked, Noble Energy had the 5th highest net out-flow for the day. Noble Energy traded up $0.05 for the day and closed at $33.82
Several research firms have commented on NBL. Credit Suisse Group set a $40.00 price target on Noble Energy and gave the company a “buy” rating in a report on Friday, April 13th. Royal Bank of Canada set a $39.00 price target on Noble Energy and gave the company a “buy” rating in a report on Friday, April 13th. BMO Capital Markets reaffirmed a “buy” rating and issued a $38.00 price target on shares of Noble Energy in a report on Tuesday, February 27th. UBS began coverage on Noble Energy in a report on Wednesday, March 7th. They issued a “buy” rating and a $40.00 price target for the company. Finally, Stifel Nicolaus set a $45.00 price target on Noble Energy and gave the company a “buy” rating in a report on Wednesday, March 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $40.90.
The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $16,621.32, a PE ratio of 109.10 and a beta of 1.04.
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 21st. Investors of record on Monday, May 7th will be given a dividend of $0.11 per share. This is a positive change from Noble Energy’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 1.30%. Noble Energy’s dividend payout ratio is 129.03%.
Noble Energy announced that its board has approved a share buyback program on Thursday, February 15th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the oil and gas development company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In related news, Director James E. Craddock sold 8,500 shares of the stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $31.35, for a total transaction of $266,475.00. Following the sale, the director now directly owns 93,413 shares in the company, valued at approximately $2,928,497.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kenneth M. Fisher sold 7,621 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $28.80, for a total value of $219,484.80. Following the sale, the chief financial officer now owns 197,144 shares in the company, valued at $5,677,747.20. The disclosure for this sale can be found here. 1.96% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sawyer & Company Inc bought a new stake in Noble Energy during the 4th quarter worth approximately $169,000. Lourd Capital LLC bought a new stake in Noble Energy during the 4th quarter worth approximately $203,000. Levin Capital Strategies L.P. bought a new stake in Noble Energy during the 4th quarter worth approximately $219,000. FDx Advisors Inc. bought a new stake in Noble Energy during the 4th quarter worth approximately $231,000. Finally, Assetmark Inc. grew its position in Noble Energy by 355.5% during the 4th quarter. Assetmark Inc. now owns 8,558 shares of the oil and gas development company’s stock worth $249,000 after acquiring an additional 6,679 shares during the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.
Noble Energy Company Profile
Noble Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids worldwide. It owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins. It principal projects are primarily located in the US unconventional basins and various global offshore conventional basins.
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