Noble Energy, Inc. (NYSE:NBL) was the recipient of some unusual options trading activity on Monday. Traders bought 1,684 put options on the stock. This represents an increase of approximately 830% compared to the typical daily volume of 181 put options.
Several research analysts recently commented on the stock. Capital One Financial upgraded shares of Noble Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, January 10th. ValuEngine lowered shares of Noble Energy from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Deutsche Bank set a $40.00 price target on shares of Noble Energy and gave the company a “buy” rating in a report on Wednesday, February 21st. Credit Suisse Group assumed coverage on shares of Noble Energy in a report on Monday, December 11th. They issued an “outperform” rating and a $35.00 price target on the stock. Finally, Royal Bank of Canada set a $37.00 price target on shares of Noble Energy and gave the company a “buy” rating in a report on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-one have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $40.48.
Shares of Noble Energy (NYSE NBL) opened at $28.78 on Tuesday. Noble Energy has a 1 year low of $22.99 and a 1 year high of $35.74. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.27. The firm has a market cap of $14,470.44, a P/E ratio of 98.00 and a beta of 1.10.
Noble Energy (NYSE:NBL) last released its quarterly earnings results on Tuesday, February 20th. The oil and gas development company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.28. Noble Energy had a negative net margin of 26.27% and a positive return on equity of 1.46%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the company earned $0.26 earnings per share. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. research analysts expect that Noble Energy will post 0.89 EPS for the current fiscal year.
Noble Energy announced that its board has authorized a share repurchase program on Thursday, February 15th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the oil and gas development company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Monday, February 12th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Friday, February 9th. Noble Energy’s payout ratio is currently -16.74%.
In related news, CFO Kenneth M. Fisher sold 7,621 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $28.80, for a total value of $219,484.80. Following the transaction, the chief financial officer now owns 197,144 shares in the company, valued at $5,677,747.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James E. Craddock sold 8,500 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $31.35, for a total transaction of $266,475.00. Following the completion of the transaction, the director now owns 93,413 shares in the company, valued at approximately $2,928,497.55. The disclosure for this sale can be found here. Company insiders own 1.96% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of Noble Energy by 0.3% during the third quarter. Principal Financial Group Inc. now owns 723,594 shares of the oil and gas development company’s stock worth $20,521,000 after buying an additional 1,854 shares in the last quarter. Lucas Capital Management grew its position in shares of Noble Energy by 18.7% during the fourth quarter. Lucas Capital Management now owns 12,700 shares of the oil and gas development company’s stock worth $372,000 after buying an additional 2,000 shares in the last quarter. Ellington Management Group LLC grew its position in shares of Noble Energy by 12.6% during the fourth quarter. Ellington Management Group LLC now owns 17,900 shares of the oil and gas development company’s stock worth $522,000 after buying an additional 2,000 shares in the last quarter. Cadence Capital Management LLC grew its position in shares of Noble Energy by 13.8% during the third quarter. Cadence Capital Management LLC now owns 18,123 shares of the oil and gas development company’s stock worth $514,000 after buying an additional 2,201 shares in the last quarter. Finally, Meadow Creek Investment Management LLC grew its position in shares of Noble Energy by 9.6% during the fourth quarter. Meadow Creek Investment Management LLC now owns 26,124 shares of the oil and gas development company’s stock worth $761,000 after buying an additional 2,296 shares in the last quarter. 95.64% of the stock is owned by institutional investors and hedge funds.
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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