Investors Buy High Volume of Put Options on Noble Energy (NBL)
Noble Energy Inc. (NYSE:NBL) was the recipient of some unusual options trading activity on Thursday. Stock traders bought 14,877 put options on the company. This represents an increase of 1,296% compared to the average daily volume of 1,066 put options.
A number of research analysts have recently commented on the stock. Barclays PLC boosted their price target on shares of Noble Energy from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday. BMO Capital Markets set a $37.00 price target on shares of Noble Energy and gave the company a “buy” rating in a research report on Thursday, August 3rd. Scotiabank set a $38.00 price target on shares of Noble Energy and gave the company a “hold” rating in a research report on Thursday, August 3rd. Citigroup Inc. reduced their price target on shares of Noble Energy from $45.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Finally, Royal Bank Of Canada restated a “buy” rating and set a $38.00 price target on shares of Noble Energy in a research report on Thursday, July 20th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Noble Energy presently has an average rating of “Buy” and a consensus target price of $41.34.
Noble Energy (NYSE NBL) opened at 25.54 on Tuesday. Noble Energy has a 52 week low of $25.15 and a 52 week high of $42.03. The company’s market capitalization is $11.01 billion. The stock’s 50 day moving average is $28.51 and its 200 day moving average is $32.95.
Noble Energy (NYSE:NBL) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.18. Noble Energy had a negative net margin of 46.63% and a positive return on equity of 0.86%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the company earned ($0.24) EPS. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, equities research analysts expect that Noble Energy will post ($0.21) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, August 7th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, August 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 1.57%. Noble Energy’s payout ratio is -9.90%.
A number of large investors have recently made changes to their positions in the stock. Shell Asset Management Co. raised its stake in shares of Noble Energy by 4.4% in the second quarter. Shell Asset Management Co. now owns 108,468 shares of the oil and gas development company’s stock worth $3,070,000 after buying an additional 4,528 shares during the last quarter. Cambiar Investors LLC raised its stake in Noble Energy by 2.8% in the first quarter. Cambiar Investors LLC now owns 1,209,445 shares of the oil and gas development company’s stock valued at $41,532,000 after buying an additional 32,437 shares in the last quarter. Morgan Stanley raised its stake in Noble Energy by 12.5% in the first quarter. Morgan Stanley now owns 2,704,117 shares of the oil and gas development company’s stock valued at $92,859,000 after buying an additional 301,069 shares in the last quarter. Bridgewater Associates LP raised its stake in Noble Energy by 1.3% in the first quarter. Bridgewater Associates LP now owns 107,164 shares of the oil and gas development company’s stock valued at $3,680,000 after buying an additional 1,402 shares in the last quarter. Finally, Retirement Systems of Alabama raised its stake in Noble Energy by 3.6% in the first quarter. Retirement Systems of Alabama now owns 210,503 shares of the oil and gas development company’s stock valued at $7,229,000 after buying an additional 7,317 shares in the last quarter. Institutional investors own 96.94% of the company’s stock.
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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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