Noble Energy Inc. (NBL) Sees Unusually-High Trading Volume
Shares of Noble Energy Inc. (NYSE:NBL) saw an uptick in trading volume on Thursday . 6,695,812 shares changed hands during mid-day trading, an increase of 56% from the previous session’s volume of 4,297,145 shares.The stock last traded at $35.77 and had previously closed at $35.58.
A number of brokerages recently issued reports on NBL. Barclays PLC restated a “buy” rating on shares of Noble Energy in a research note on Sunday, July 17th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Noble Energy in a report on Wednesday, June 1st. Royal Bank Of Canada lifted their price objective on shares of Noble Energy from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, May 5th. Sterne Agee CRT raised shares of Noble Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $35.33 to $47.00 in a report on Wednesday, May 25th. They noted that the move was a valuation call. Finally, Bank of America Corp. reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Noble Energy in a report on Wednesday, May 4th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. Noble Energy has a consensus rating of “Buy” and a consensus target price of $41.71.
The firm’s market cap is $15.53 billion. The firm’s 50-day moving average is $35.37 and its 200-day moving average is $33.99.
Noble Energy (NYSE:NBL) last announced its earnings results on Wednesday, August 3rd. The oil and gas development company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.05. The business had revenue of $847 million for the quarter, compared to the consensus estimate of $909.36 million. Noble Energy’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.26 EPS. Equities analysts forecast that Noble Energy Inc. will post ($1.07) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 22nd. Stockholders of record on Monday, August 8th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Thursday, August 4th.
In related news, Director Thomas J. Edelman sold 12,000 shares of the firm’s stock in a transaction dated Friday, June 24th. The stock was sold at an average price of $35.09, for a total value of $421,080.00. Following the transaction, the director now owns 3,032,978 shares in the company, valued at $106,427,198.02. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
A number of institutional investors have recently bought and sold shares of the stock. RS Investment Management Co. LLC boosted its position in Noble Energy by 13.0% in the fourth quarter. RS Investment Management Co. LLC now owns 1,586,741 shares of the oil and gas development company’s stock valued at $52,251,000 after buying an additional 182,385 shares in the last quarter. Wells Fargo & Company MN boosted its position in Noble Energy by 11.5% in the fourth quarter. Wells Fargo & Company MN now owns 875,739 shares of the oil and gas development company’s stock valued at $28,838,000 after buying an additional 89,975 shares in the last quarter. Bank of Montreal Can boosted its position in Noble Energy by 8.2% in the fourth quarter. Bank of Montreal Can now owns 323,482 shares of the oil and gas development company’s stock valued at $10,652,000 after buying an additional 24,542 shares in the last quarter. BlackRock Advisors LLC boosted its position in Noble Energy by 2.4% in the fourth quarter. BlackRock Advisors LLC now owns 1,026,542 shares of the oil and gas development company’s stock valued at $33,804,000 after buying an additional 24,038 shares in the last quarter. Finally, KBC Group NV boosted its position in Noble Energy by 16.1% in the fourth quarter. KBC Group NV now owns 109,931 shares of the oil and gas development company’s stock valued at $3,620,000 after buying an additional 15,255 shares in the last quarter.
Noble Energy, Inc is an independent energy company engaged in crude oil, natural gas and natural gas liquids (NGLs) exploration and production. The Company’s portfolio is diversified between short-term and long-term projects, domestic and international and a balanced production mix among crude oil, natural gas and NGLs.
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