Noble Midstream Partners LP’s Quiet Period To Expire on October 25th (NASDAQ:NBLX)
Noble Midstream Partners’ (NASDAQ:NBLX) quiet period is set to expire on Tuesday, October 25th. Noble Midstream Partners had issued 12,500,000 shares in its IPO on September 15th. The total size of the offering was $281,250,000 based on an initial share price of $22.50. During the company’s quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Several equities analysts have recently commented on NBLX shares. Mizuho started coverage on Noble Midstream Partners in a research report on Monday, October 10th. They issued a “buy” rating and a $33.00 price objective on the stock. Barclays PLC began coverage on Noble Midstream Partners in a report on Monday, October 10th. They issued an “overweight” rating and a $35.00 target price on the stock. Robert W. Baird began coverage on Noble Midstream Partners in a report on Monday, October 10th. They issued an “outperform” rating and a $39.00 target price on the stock. Deutsche Bank AG began coverage on Noble Midstream Partners in a report on Monday, October 10th. They issued a “hold” rating and a $29.00 target price on the stock. Finally, JPMorgan Chase & Co. began coverage on Noble Midstream Partners in a report on Monday, October 10th. They issued an “overweight” rating and a $34.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $34.35.
Shares of Noble Midstream Partners (NASDAQ:NBLX) opened at 30.50 on Tuesday. Noble Midstream Partners has a 52 week low of $26.00 and a 52 week high of $30.82. The firm’s 50-day moving average price is $27.67 and its 200 day moving average price is $27.67.
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In related news, CEO Terry R. Gerhart purchased 15,000 shares of the business’s stock in a transaction on Tuesday, September 20th. The shares were bought at an average cost of $22.50 per share, with a total value of $337,500.00. Following the transaction, the chief executive officer now owns 15,000 shares of the company’s stock, valued at $337,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary W. Willingham purchased 10,000 shares of the business’s stock in a transaction on Tuesday, September 20th. The shares were bought at an average cost of $22.50 per share, for a total transaction of $225,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $225,000. The disclosure for this purchase can be found here.
Noble Midstream Partners Company Profile
Noble Midstream Partners LP owns, operates, develop, and acquires a range of domestic midstream infrastructure assets. The Company provides crude oil, natural gas, and water-related midstream services for Noble Energy, Inc The Company’s operating assets are focused on the Denver-Julesburg Basin (DJ Basin) in Colorado.
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