Board of Noble Energy Authorizes $750 Million Share Repurchase Program

On February 15, Noble Energy, Inc. (NBL) announced that its Board of Directors has authorized a new share repurchase program totaling $750 million. The program expires in 2020 and represents 6% of the total outstanding shares at their current valuation. The company is also divesting deepwater assets in the Gulf of Mexico.

 

Sonal sent an alert to subscribers at 8:30 am, and the next trade took place one minute later at 8:31 am for $27. Regular market trading opened for the day at $27.24. After an initial spike, the stock price faded and closed lower. Over the next few days, however, Noble Energy trended higher on the news. The stock closed at $29.39 on February 22.

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