David L. Stover Purchases 12,000 Shares of Noble Energy, Inc. (NYSE:NBL) Stock

Noble Energy, Inc. (NYSE:NBL) CEO David L. Stover acquired 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was bought at an average price of $20.92 per share, with a total value of $251,040.00. Following the acquisition, the chief executive officer now directly owns 680,453 shares of the company’s stock, valued at approximately $14,235,076.76. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

NBL stock traded up $0.77 during midday trading on Wednesday, hitting $20.91. The company’s stock had a trading volume of 6,813,899 shares, compared to its average volume of 5,739,348. The company’s fifty day moving average price is $20.55 and its 200 day moving average price is $21.57. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.55 and a quick ratio of 0.55. Noble Energy, Inc. has a twelve month low of $17.11 and a twelve month high of $28.40. The stock has a market capitalization of $9.93 billion, a P/E ratio of 23.23 and a beta of 1.43.

Noble Energy (NYSE:NBL) last posted its quarterly earnings results on Thursday, November 7th. The oil and gas development company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm 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 firm posted $0.27 earnings per share. The company’s quarterly revenue was down 12.1% compared to the same quarter last year. Equities analysts expect that Noble Energy, Inc. will post -0.41 EPS for the current fiscal year.

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

Several equities analysts have recently issued reports on NBL shares. Piper Jaffray Companies set a $28.00 target price on Noble Energy and gave the stock a “buy” rating in a research report on Friday, August 16th. Wells Fargo & Co boosted their price objective 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. Oppenheimer upgraded Noble Energy from a “market perform” rating to an “outperform” rating and set a $33.00 target price for the company in a report on Thursday, August 22nd. MKM Partners started coverage on Noble Energy in a research note on Wednesday, November 20th. They issued a “buy” rating and a $27.00 price target on the stock. Finally, Wolfe Research upgraded Noble Energy from a “peer perform” rating to an “outperform” rating and cut their price target for the company from $31.00 to $30.00 in a report on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $30.89.

Several institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP bought a new stake in Noble Energy in the 2nd quarter valued at $498,000. Dupont Capital Management Corp bought a new position in Noble Energy during the second quarter worth about $427,000. Comerica Bank increased its position in Noble Energy by 27.6% during the second quarter. Comerica Bank now owns 117,692 shares of the oil and gas development company’s stock worth $2,421,000 after acquiring an additional 25,466 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Noble Energy by 2.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,192,328 shares of the oil and gas development company’s stock worth $49,109,000 after purchasing an additional 59,028 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Noble Energy by 16.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 243,058 shares of the oil and gas development company’s stock worth $5,459,000 after purchasing an additional 34,498 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors.

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

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