Mizuho initiated coverage on shares of Noble Energy Inc. (NYSE:NBL) in a note issued to investors on Friday. The firm set a “buy” rating and a $44.00 price target on the oil and gas development company’s stock. Mizuho’s price objective would suggest a potential upside of 24.75% from the company’s previous close.
Several other research firms have also recently commented on NBL. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Noble Energy in a research note on Monday, July 18th. Credit Agricole SA began coverage on Noble Energy in a research note on Wednesday, June 22nd. They set an “outperform” rating for the company. Barclays PLC reiterated a “buy” rating on shares of Noble Energy in a research note on Sunday, July 17th. Citigroup Inc. upgraded Noble Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, July 7th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of Noble Energy in a research note on Sunday, July 10th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the company’s stock. Noble Energy presently has an average rating of “Buy” and a consensus price target of $40.23.
Noble Energy (NYSE:NBL) opened at 35.27 on Friday. Noble Energy has a 52-week low of $23.77 and a 52-week high of $39.85. The stock’s market capitalization is $15.17 billion. The company has a 50-day moving average of $34.96 and a 200-day moving average of $35.17.
Noble Energy (NYSE:NBL) last released its quarterly earnings results on Wednesday, August 3rd. The oil and gas development company reported ($0.24) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.05. The firm earned $847 million during the quarter, compared to analysts’ expectations of $909.36 million. Noble Energy had a negative return on equity of 2.16% and a negative net margin of 90.52%. Noble Energy’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 EPS. Equities research analysts expect that Noble Energy will post ($1.06) EPS for the current year.
In other news, Director Jeffrey L. Berenson sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $34.05, for a total transaction of $340,500.00. Following the transaction, the director now directly owns 82,269 shares of the company’s stock, valued at $2,801,259.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas J. Edelman sold 12,000 shares of the firm’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $33.62, for a total value of $403,440.00. Following the transaction, the director now directly owns 3,032,978 shares in the company, valued at $101,968,720.36. The disclosure for this sale can be found here. Insiders own 2.17% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Checchi Capital Advisers LLC raised its position in shares of Noble Energy by 1.4% in the second quarter. Checchi Capital Advisers LLC now owns 3,592 shares of the oil and gas development company’s stock worth $129,000 after buying an additional 49 shares during the period. Advisor Group Inc. purchased a new position in shares of Noble Energy during the second quarter valued at $136,000. Bessemer Group Inc. purchased a new position in shares of Noble Energy during the first quarter valued at $150,000. Meeder Asset Management Inc. purchased a new position in shares of Noble Energy during the first quarter valued at $153,000. Finally, Creative Planning boosted its position in shares of Noble Energy by 34.7% in the second quarter. Creative Planning now owns 5,281 shares of the oil and gas development company’s stock valued at $189,000 after buying an additional 1,360 shares in the last quarter. 93.82% of the stock is currently owned by institutional investors.
About Noble Energy
Noble Energy, Inc is an independent energy company engaged in crude oil, natural gas and natural gas liquids (NGLs) exploration and production. The Company’s portfolio is diversified between short-term and long-term projects, domestic and international and a balanced production mix among crude oil, natural gas and NGLs.
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