Noble Energy Stock Rating Reaffirmed by Goldman Sachs (NBL)

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Noble Energy (NYSE:NBL)‘s stock had its “neutral” rating reiterated by Goldman Sachs in a research note issued on Monday, American Banking and Market News reports. They currently have a $29.00 price objective on the stock, down from their previous price objective of $30.00. Goldman Sachs’ target price points to a potential downside of 58.24% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks upgraded shares of Noble Energy from an “underperform” rating to a “neutral” rating in a research note on Thursday, April 3rd. They now have a $74.00 price target on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Noble Energy from $75.00 to $77.00 in a research note on Tuesday, April 1st. They now have a “hold” rating on the stock. Finally, analysts at Guggenheim raised their price target on shares of Noble Energy from $73.00 to $80.00 in a research note on Thursday, February 27th. They now have a “buy” rating on the stock. Ten research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $76.95.

Shares of Noble Energy (NYSE:NBL) opened at 69.45 on Monday. Noble Energy has a 1-year low of $52.62 and a 1-year high of $78.01. The stock’s 50-day moving average is $68.66 and its 200-day moving average is $68.63. The company has a market cap of $25.054 billion and a price-to-earnings ratio of 25.79.

Noble Energy (NYSE:NBL) last released its earnings data on Thursday, February 6th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by $0.42. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. Analysts expect that Noble Energy will post $3.37 EPS for the current fiscal year.

Noble Energy, Inc (NYSE:NBL) is an independent energy company engaged in worldwide oil and gas exploration and production.

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