Insider Selling: Noble Energy Inc. (NBL) Director Sells 200,000 Shares of Stock
Noble Energy Inc. (NYSE:NBL) Director Thomas J. Edelman sold 200,000 shares of Noble Energy stock in a transaction on Monday, December 11th. The stock was sold at an average price of $26.99, for a total transaction of $5,398,000.00. Following the transaction, the director now directly owns 2,952,878 shares in the company, valued at $79,698,177.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Noble Energy Inc. (NBL) traded down $0.03 during trading on Tuesday, hitting $26.85. 4,181,219 shares of the stock traded hands, compared to its average volume of 5,137,611. The firm has a market cap of $13,109.20, a price-to-earnings ratio of 112.25 and a beta of 1.16. Noble Energy Inc. has a one year low of $22.99 and a one year high of $42.03. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.75.
Noble Energy (NYSE:NBL) last released its quarterly earnings data on Monday, October 30th. The oil and gas development company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.11. The company had revenue of $960.00 million for the quarter, compared to analyst estimates of $961.61 million. Noble Energy had a negative net margin of 45.85% and a positive return on equity of 1.06%. Noble Energy’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.07) EPS. sell-side analysts anticipate that Noble Energy Inc. will post -0.05 earnings per share for the current fiscal year.
A number of equities analysts have recently weighed in on NBL shares. Royal Bank of Canada set a $37.00 price target on shares of Noble Energy and gave the stock a “buy” rating in a research report on Sunday, October 15th. Stifel Nicolaus set a $39.00 price objective on shares of Noble Energy and gave the stock a “buy” rating in a report on Thursday, October 5th. Mizuho restated a “buy” rating on shares of Noble Energy in a report on Friday, September 29th. Jefferies Group restated a “buy” rating and set a $32.00 price objective (down from $36.00) on shares of Noble Energy in a report on Tuesday, August 29th. Finally, Cowen set a $35.00 price objective on shares of Noble Energy and gave the stock a “buy” rating in a report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $39.93.
Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new position in shares of Noble Energy during the 2nd quarter worth about $106,000. Massey Quick Simon & CO. LLC acquired a new position in shares of Noble Energy during the 3rd quarter worth about $155,000. Global X Management Co. LLC increased its stake in shares of Noble Energy by 22.6% during the 2nd quarter. Global X Management Co. LLC now owns 6,993 shares of the oil and gas development company’s stock worth $198,000 after purchasing an additional 1,291 shares during the last quarter. IndexIQ Advisors LLC acquired a new position in shares of Noble Energy during the 2nd quarter worth about $214,000. Finally, Pacer Advisors Inc. increased its stake in shares of Noble Energy by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 7,598 shares of the oil and gas development company’s stock worth $215,000 after purchasing an additional 580 shares during the last quarter. Institutional investors own 94.32% of the company’s stock.
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About Noble Energy
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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