The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $151.4K by Brent J. Smolik, Chief Executive Officer at Noble Midstream Partners LP (Symbol: NBLX).
|03/03/2020||Brent J. Smolik||Chief Executive Officer||9,850||$15.37||$151,403.36|
Smolik’s average cost works out to $15.37/share. In trading on Thursday, bargain hunters could buy shares of Noble Midstream Partners LP (Symbol: NBLX) and achieve a cost basis lower than Smolik, with shares changing hands as low as $8.42 per share. It should be noted that Smolik has collected $0.19/share in dividends since the time of their purchase, so they are currently down 44.0% on their purchase from a total return basis. Shares of Noble Midstream Partners LP were changing hands at $8.63 at last check, trading down about 1.4% on Thursday. The chart below shows the one year performance of NBLX shares, versus its 200 day moving average:
Looking at the chart above, NBLX’s low point in its 52 week range is $1.81 per share, with $31.99 as the 52 week high point — that compares with a last trade of $8.63.
The current annualized dividend paid by Noble Midstream Partners LP is $0.75/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 05/07/2020. Below is a long-term dividend history chart for NBLX, which can be of good help in judging whether the most recent dividend with approx. 8.6% annualized yield is likely to continue.