Investors Purchase High Volume of Noble Energy Call Options (NYSE:NBL)

Noble Energy, Inc. (NYSE:NBL) was the target of unusually large options trading on Thursday. Stock traders purchased 8,004 call options on the stock. This is an increase of 1,216% compared to the average daily volume of 608 call options.

Shares of NYSE NBL traded down $0.12 during trading hours on Friday, reaching $19.48. The stock had a trading volume of 282,078 shares, compared to its average volume of 5,875,467. The firm has a market cap of $9.42 billion, a price-to-earnings ratio of 21.64 and a beta of 1.43. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.69. Noble Energy has a fifty-two week low of $18.90 and a fifty-two week high of $28.40. The firm has a 50-day moving average of $22.14 and a 200-day moving average of $21.80.

Noble Energy (NYSE:NBL) last posted its quarterly earnings data on Wednesday, February 12th. The oil and gas development company reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.10 billion. Noble Energy had a negative return on equity of 0.82% and a negative net margin of 25.33%. The firm’s revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 EPS. On average, equities analysts predict that Noble Energy will post -0.41 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 10th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.46%. The ex-dividend date is Friday, February 7th. Noble Energy’s dividend payout ratio is presently 53.33%.

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

Institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its stake in Noble Energy by 16.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 243,058 shares of the oil and gas development company’s stock valued at $5,459,000 after acquiring an additional 34,498 shares during the last quarter. American Assets Investment Management LLC raised its stake in Noble Energy by 54.0% during the 4th quarter. American Assets Investment Management LLC now owns 77,000 shares of the oil and gas development company’s stock valued at $1,913,000 after acquiring an additional 27,000 shares during the last quarter. Pictet Asset Management Ltd. raised its stake in Noble Energy by 3.4% during the 3rd quarter. Pictet Asset Management Ltd. now owns 243,373 shares of the oil and gas development company’s stock valued at $5,466,000 after acquiring an additional 7,900 shares during the last quarter. Waratah Capital Advisors Ltd. purchased a new stake in Noble Energy during the 3rd quarter valued at approximately $9,646,000. Finally, Daiwa Securities Group Inc. raised its stake in Noble Energy by 22.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 22,208 shares of the oil and gas development company’s stock valued at $499,000 after acquiring an additional 4,144 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on the company. Tudor Pickering cut Noble Energy from a “buy” rating to a “hold” rating and set a $24.00 price objective for the company. in a research report on Tuesday, January 7th. TD Securities lowered their price objective on Noble Energy from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday. Cfra lowered their price objective on Noble Energy from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday. ValuEngine cut Noble Energy from a “hold” rating to a “sell” rating in a research report on Saturday, December 21st. Finally, Susquehanna Bancshares started coverage on Noble Energy in a research report on Tuesday, January 14th. They issued a “positive” rating and a $27.00 target price for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $30.25.

About Noble Energy

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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