Noble Midstream Partners LP (NYSE:NBLX) was the recipient of a significant increase in short interest during the month of November. As of November 29th, there was short interest totalling 1,760,000 shares, an increase of 51.7% from the November 14th total of 1,160,000 shares. Based on an average trading volume of 330,900 shares, the short-interest ratio is presently 5.3 days. Approximately 12.0% of the company’s shares are sold short.
In related news, Director Andy Viens purchased 1,500 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average cost of $21.79 per share, with a total value of $32,685.00. Following the completion of the purchase, the director now directly owns 11,291 shares in the company, valued at $246,030.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brent J. Smolik purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average cost of $21.50 per share, with a total value of $107,500.00. Following the completion of the purchase, the chief executive officer now owns 5,000 shares of the company’s stock, valued at $107,500. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 7,500 shares of company stock valued at $161,735.
Large investors have recently bought and sold shares of the company. Barclays PLC lifted its position in Noble Midstream Partners by 389.0% during the third quarter. Barclays PLC now owns 91,330 shares of the energy company’s stock valued at $2,203,000 after purchasing an additional 72,654 shares during the period. Atria Investments LLC bought a new position in Noble Midstream Partners during the second quarter valued at approximately $340,000. First Republic Investment Management Inc. lifted its position in Noble Midstream Partners by 4.1% during the second quarter. First Republic Investment Management Inc. now owns 20,093 shares of the energy company’s stock valued at $668,000 after purchasing an additional 783 shares during the period. BNP Paribas Arbitrage SA bought a new position in Noble Midstream Partners during the second quarter valued at approximately $176,000. Finally, Russell Investments Group Ltd. lifted its position in Noble Midstream Partners by 117.9% during the third quarter. Russell Investments Group Ltd. now owns 8,500 shares of the energy company’s stock valued at $205,000 after purchasing an additional 4,600 shares during the period. Hedge funds and other institutional investors own 53.06% of the company’s stock.
A number of equities analysts recently issued reports on the stock. Barclays set a $30.00 price target on shares of Noble Midstream Partners and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Robert W. Baird raised shares of Noble Midstream Partners from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $26.00 to $29.00 in a research note on Tuesday, December 3rd. Bank of America decreased their price target on shares of Noble Midstream Partners from $42.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Credit Suisse Group downgraded shares of Noble Midstream Partners from an “outperform” rating to a “hold” rating and decreased their price target for the stock from $31.00 to $23.00 in a research note on Monday, November 25th. Finally, Noble Financial initiated coverage on shares of Noble Midstream Partners in a report on Tuesday, September 3rd. They issued a “sector perform” rating and a $29.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Noble Midstream Partners presently has an average rating of “Buy” and an average target price of $33.36.
NBLX traded up $0.41 during midday trading on Thursday, reaching $24.04. The company’s stock had a trading volume of 8,711 shares, compared to its average volume of 381,067. The firm has a market capitalization of $889.44 million, a price-to-earnings ratio of 6.09, a PEG ratio of 0.55 and a beta of 1.34. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.66. Noble Midstream Partners has a 1 year low of $20.30 and a 1 year high of $40.30. The stock’s 50-day moving average is $22.48 and its 200-day moving average is $26.89.
Noble Midstream Partners (NYSE:NBLX) last announced its quarterly earnings data on Thursday, November 7th. The energy company reported $0.88 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.04). Noble Midstream Partners had a return on equity of 11.62% and a net margin of 26.19%. The business had revenue of $169.32 million during the quarter, compared to analysts’ expectations of $170.05 million. As a group, equities research analysts forecast that Noble Midstream Partners will post 3.13 earnings per share for the current fiscal year.
Noble Midstream Partners Company Profile
Noble Midstream Partners LP owns, operates, develops, and acquires midstream infrastructure assets in the United States. It operates through three segments: Gathering Systems, Fresh Water Delivery, and Investments and Other. The company provides crude oil, natural gas, and water-related midstream services.
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