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Top Buys by Top Brass: CEO & Director Stover's $251.1K Bet on NBL

A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company 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 the ''top brass'' over the trailing six month period, one of which was a total of $251.1K by David L. Stover, CEO & Director at Noble Energy Inc (Symbol: NBL).

12/04/2019 David L. Stover CEO & Director 12,000 $20.92 $251,084.40

Stover's average cost works out to $20.92/share. In trading on Thursday, bargain hunters could buy shares of Noble Energy Inc (Symbol: NBL) and achieve a cost basis lower than Stover, with shares changing hands as low as $20.90 per share. Shares of Noble Energy Inc were changing hands at $21.28 at last check, trading up about 1.8% on Thursday. The chart below shows the one year performance of NBL shares, versus its 200 day moving average:

Noble Energy Inc Chart

Looking at the chart above, NBL's low point in its 52 week range is $17.11 per share, with $28.40 as the 52 week high point — that compares with a last trade of $21.28.

Click here to find out which other top insider buys by the ''top brass'' you need to know about »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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