Noble Energy (NYSE:NBL) Shares Gap Up After Insider Buying Activity

Shares of Noble Energy, Inc. (NYSE:NBL) gapped up before the market opened on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $19.68, but opened at $20.14. Noble Energy shares last traded at $20.91, with a volume of 6,842,700 shares changing hands.

Specifically, CEO David L. Stover bought 12,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were purchased at an average cost of $20.92 per share, for a total transaction of $251,040.00. Following the transaction, the chief executive officer now owns 680,453 shares of the company’s stock, valued at $14,235,076.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Scott D. Urban bought 15,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were acquired at an average price of $20.38 per share, for a total transaction of $305,700.00. Following the completion of the transaction, the director now directly owns 48,118 shares in the company, valued at approximately $980,644.84. The disclosure for this purchase can be found here. 1.81% of the stock is currently owned by corporate insiders.

Several analysts have recently issued reports on the stock. Oppenheimer upgraded shares of Noble Energy from a “market perform” rating to an “outperform” rating and set a $33.00 target price on the stock in a research report on Thursday, August 22nd. Wells Fargo & Co upped their target price on shares of Noble Energy from $26.00 to $28.00 and gave the company a “market perform” rating in a research report on Monday, August 12th. Morgan Stanley restated a “buy” rating and set a $29.00 target price on shares of Noble Energy in a research report on Tuesday, November 12th. Citigroup upped their target price on shares of Noble Energy from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, MKM Partners assumed coverage on shares of Noble Energy in a research report on Wednesday, November 20th. They set a “buy” rating and a $27.00 target price on the stock. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Noble Energy presently has an average rating of “Buy” and a consensus price target of $30.89.

The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $9.93 billion, a PE ratio of 23.23 and a beta of 1.43. The stock’s 50-day moving average is $20.55 and its two-hundred day moving average is $21.57.

Noble Energy (NYSE:NBL) last posted its quarterly earnings data on Thursday, November 7th. The oil and gas development company reported ($0.10) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.01. Noble Energy had a negative net margin of 25.33% and a negative return on equity of 0.82%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the company posted $0.27 EPS. The firm’s revenue for the quarter was down 12.1% on a year-over-year basis. On average, equities research analysts forecast that Noble Energy, Inc. will post -0.41 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Monday, November 4th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Friday, November 1st. Noble Energy’s dividend payout ratio (DPR) is currently 53.33%.

A number of institutional investors have recently bought and sold shares of the stock. State of Michigan Retirement System increased its position in shares of Noble Energy by 0.4% during the third quarter. State of Michigan Retirement System now owns 114,961 shares of the oil and gas development company’s stock worth $2,582,000 after acquiring an additional 500 shares during the period. Bank of Hawaii increased its position in shares of Noble Energy by 2.5% during the second quarter. Bank of Hawaii now owns 23,257 shares of the oil and gas development company’s stock worth $521,000 after acquiring an additional 565 shares during the period. Rockefeller Capital Management L.P. increased its position in shares of Noble Energy by 13.0% during the second quarter. Rockefeller Capital Management L.P. now owns 5,428 shares of the oil and gas development company’s stock worth $122,000 after acquiring an additional 624 shares during the period. World Asset Management Inc increased its position in shares of Noble Energy by 2.1% during the third quarter. World Asset Management Inc now owns 34,245 shares of the oil and gas development company’s stock worth $769,000 after acquiring an additional 704 shares during the period. Finally, BB&T Securities LLC increased its position in shares of Noble Energy by 8.4% during the second quarter. BB&T Securities LLC now owns 10,041 shares of the oil and gas development company’s stock worth $224,000 after acquiring an additional 780 shares during the period. 98.66% of the stock is currently owned by institutional investors.

Noble Energy Company Profile (NYSE:NBL)

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. The company owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins.

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