What’s Next for Noble Energy, Inc. After Today’s Bullish Options Activity?

 What's Next for Noble Energy, Inc. After Today's Bullish Options Activity?

In today’s session Noble Energy, Inc. (NBL) registered an unusually high (1,066) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious NBL increase. With 1,066 contracts traded and 23274 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: NBL161216C00037500 closed last at: $0.4 or 38.5% down. About 730,646 shares traded hands. Noble Energy, Inc. (NYSE:NBL) has declined 6.58% since April 27, 2016 and is downtrending. It has underperformed by 11.80% the S&P500.

Analysts await Noble Energy, Inc. (NYSE:NBL) to report earnings on February, 15. They expect $-0.10 earnings per share, down 122.73% or $0.54 from last year’s $0.44 per share. After $-0.07 actual earnings per share reported by Noble Energy, Inc. for the previous quarter, Wall Street now forecasts 42.86% negative EPS growth.

Noble Energy, Inc. (NYSE:NBL) Ratings Coverage

Out of 21 analysts covering Noble Energy Inc. (NYSE:NBL), 15 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 71% are positive. $60 is the highest target while $31 is the lowest. The $44.27 average target is 18.65% above today’s ($37.31) stock price. Noble Energy Inc. has been the topic of 42 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Wednesday, May 25, the company rating was upgraded by Sterne Agee CRT. Seaport Global upgraded Noble Energy, Inc. (NYSE:NBL) on Tuesday, June 7 to “Buy” rating. The firm earned “Buy” rating on Friday, September 4 by Wunderlich. The company was maintained on Tuesday, November 17 by RBC Capital Markets. The rating was initiated by Mizuho on Friday, October 14 with “Buy”. Citigroup maintained Noble Energy, Inc. (NYSE:NBL) rating on Monday, September 14. Citigroup has “Neutral” rating and $35 price target. The stock has “Overweight” rating given by JP Morgan on Wednesday, December 9. The stock of Noble Energy, Inc. (NYSE:NBL) earned “Outperform” rating by Credit Suisse on Wednesday, July 22. The rating was maintained by Barclays Capital on Wednesday, August 5 with “Overweight”. Tudor Pickering downgraded Noble Energy, Inc. (NYSE:NBL) on Monday, March 28 to “Hold” rating.

According to Zacks Investment Research, “Noble Energy, the parent company of Samedan Oil Corporation, Noble Gas Marketing, Inc. and Noble Trading, Inc., is one of the nation’s leading independent energy companies. Noble Energy operates throughout major basins in the United Stated including the Gulf of Mexico, as well as internationally, in Argentina, China, Ecuador, Equatorial Guinea, the Mediterranean Sea, the North Sea and Vietnam.”

Insitutional Activity: The institutional sentiment increased to 1.11 in 2016 Q2. Its up 0.09, from 1.02 in 2016Q1. The ratio is positive, as 46 funds sold all Noble Energy, Inc. shares owned while 170 reduced positions. 56 funds bought stakes while 165 increased positions. They now own 401.25 million shares or 1.78% less from 408.52 million shares in 2016Q1.
Bridgewater Associate L P last reported 126,362 shares in the company. Element Cap Mgmt Limited Liability Co holds 0.11% of its portfolio in Noble Energy, Inc. (NYSE:NBL) for 19,464 shares. Lmr Prtnrs Llp last reported 9,641 shares in the company. Arcadia Management Mi, a Michigan-based fund reported 420 shares. Moreover, South Dakota Invest Council has 0.42% invested in Noble Energy, Inc. (NYSE:NBL) for 535,814 shares. Sumitomo Mitsui Asset Mgmt Ltd has 32,366 shares for 0.04% of their US portfolio. The Ohio-based Bahl And Gaynor Inc has invested 0.01% in Noble Energy, Inc. (NYSE:NBL). Cwm Lc holds 0.13% or 50,362 shares in its portfolio. Amica Retiree Tru holds 0.15% or 4,736 shares in its portfolio. The Ontario – Canada-based Bank Of Montreal Can has invested 0.02% in Noble Energy, Inc. (NYSE:NBL). Pub Sector Pension Board last reported 81,213 shares in the company. World Asset Mngmt Incorporated owns 42,731 shares or 0.06% of their US portfolio. Retirement System Of Alabama accumulated 218,490 shares or 0.05% of the stock. Jefferies Limited Liability Com holds 0% of its portfolio in Noble Energy, Inc. (NYSE:NBL) for 5,722 shares. Raymond James Associates holds 0.01% or 125,941 shares in its portfolio.

Insider Transactions: Since August 12, 2016, the stock had 0 insider purchases, and 5 selling transactions for $2.45 million net activity. EDELMAN THOMAS J had sold 12,000 shares worth $403,440. Gerhart Terry R. sold 7,918 shares worth $277,219. 32,662 shares with value of $1.15M were sold by Craddock James E on Friday, August 12. Shares for $276,760 were sold by Putnam Michael W. on Wednesday, November 2. 10,000 shares were sold by BERENSON JEFFREY L, worth $340,500.

Noble Energy, Inc. is an independent energy firm engaged in crude oil, natural gas and natural gas liquids exploration and production. The company has a market cap of $15.94 billion. 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. It currently has negative earnings. The Firm operates in over seven core areas, including the DJ Basin (onshore United States), the Marcellus Shale (onshore United States), Eagle Ford Shale (onshore United States), Permian Basin (onshore United States), the deepwater Gulf of Mexico (offshore United States), offshore West Africa and offshore Eastern Mediterranean.

NBL Company Profile

Noble Energy, Inc., incorporated on December 29, 1969, is an independent energy firm 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. The Firm operates in approximately seven core areas, including the DJ Basin (onshore United States), the Marcellus Shale (onshore United States), Eagle Ford Shale (onshore United States), Permian Basin (onshore United States), the deepwater Gulf of Mexico (offshore United States), offshore West Africa and offshore Eastern Mediterranean. The Company’s sanctioned projects include DJ Basin (onshore United States), Marcellus Shale (onshore United States), Eagle Ford Shale (onshore United States), Permian Basin (onshore United States), Gunflint (deepwater Gulf of Mexico) and Tamar Southwest (offshore Israel). The Company’s activities are grouped into approximately four components that are all primarily in the business of crude oil, natural gas and NGL exploration, development, production and acquisition: the United States; West Africa (Equatorial Guinea, Cameroon and Gabon); Eastern Mediterranean (Israel and Cyprus), and Other International and Corporate. Other International includes the Falkland Islands, Suriname, the North Sea and China, and new ventures. The Company’s proved reserves are approximately 1,420 million barrels oil equivalent.

More news for Noble Energy, Inc. (NYSE:NBL) were recently published by: Forbes.com, which released: “Ex-Dividend Reminder: Enbridge Energy Partners, Crestwood Equity Partners and …” on November 01, 2016. Bizjournals.com‘s article titled: “More layoffs at Noble Energy in Colorado, Texas” and published on November 09, 2016 is yet another important article.

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