Jeffrey L. Berenson Sells 10,000 Shares of Noble Energy Inc. (NBL) Stock
Noble Energy Inc. (NYSE:NBL) Director Jeffrey L. Berenson sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $34.05, for a total transaction of $340,500.00. Following the transaction, the director now owns 82,269 shares of the company’s stock, valued at approximately $2,801,259.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Noble Energy Inc. (NYSE:NBL) opened at 33.54 on Tuesday. The company’s market capitalization is $14.42 billion. The firm’s 50-day moving average is $34.93 and its 200 day moving average is $34.83. Noble Energy Inc. has a 12 month low of $23.77 and a 12 month high of $39.85.
Noble Energy (NYSE:NBL) last released its quarterly earnings results on Wednesday, August 3rd. The oil and gas development company reported ($0.24) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.05. The firm earned $847 million during the quarter, compared to the consensus estimate of $909.36 million. Noble Energy had a negative net margin of 90.52% and a negative return on equity of 2.16%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 earnings per share. Equities research analysts predict that Noble Energy Inc. will post ($1.09) EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 22nd. Stockholders of record on Monday, August 8th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Thursday, August 4th. Noble Energy’s payout ratio is currently -5.88%.
A number of research analysts have commented on the stock. Johnson Rice restated a “buy” rating and set a $21.00 price target (up previously from $19.00) on shares of Noble Energy in a research note on Thursday, September 15th. JPMorgan Chase & Co. restated a “buy” rating on shares of Noble Energy in a research note on Monday, July 18th. Barclays PLC restated a “buy” rating on shares of Noble Energy in a research note on Sunday, July 17th. Deutsche Bank AG restated a “buy” rating on shares of Noble Energy in a research note on Sunday, July 10th. Finally, Citigroup Inc. upgraded shares of Noble Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, July 7th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the company. Noble Energy currently has an average rating of “Buy” and an average price target of $41.10.
Several institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors L.L.C. increased its position in Noble Energy by 24.2% in the first quarter. Nisa Investment Advisors L.L.C. now owns 124,068 shares of the oil and gas development company’s stock valued at $3,897,000 after buying an additional 24,140 shares during the last quarter. Thomas White International Ltd. acquired a new position in Noble Energy during the first quarter valued at about $496,000. Mn Services Vermogensbeheer B.V. acquired a new position in Noble Energy during the first quarter valued at about $293,000. Glenmede Trust Co. NA increased its position in Noble Energy by 24.0% in the first quarter. Glenmede Trust Co. NA now owns 68,808 shares of the oil and gas development company’s stock valued at $2,160,000 after buying an additional 13,330 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in Noble Energy during the first quarter valued at about $534,000. 93.85% of the stock is owned by hedge funds and other institutional investors.
Noble Energy Company Profile
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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