Noble Energy Inc <NBL.O> shareholders on Friday are expected to approve its sale to Chevron for about $4.2 billion in stock, cementing the first big energy deal since the coronavirus crushed global fuel demand. The purchase would boost Chevron's U.S. shale oil holdings and add nearly 1 billion cubic feet of natural gas reserves close to growing markets. Proxy advisers Institutional Shareholder Services (ISS) and Glass Lewis have recommended approval of the deal.
Zacks Market Edge Highlights: Chevron, Exxon Mobil, BP, Pfizer and Bank of America
Chevron (CVX) closed the most recent trading day at $72, moving +0.14% from the previous trading session.