Noble Energy Inc. (NYSE:NBL)‘s stock had its “buy” rating reaffirmed by equities research analysts at Nomura in a research note issued on Monday. They presently have a $17.00 price target on the oil and gas development company’s stock. Nomura’s price objective would suggest a potential downside of 48.52% from the company’s previous close.
Several other analysts also recently commented on NBL. Barclays PLC reiterated a “buy” rating on shares of Noble Energy in a report on Sunday, July 17th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Noble Energy in a report on Wednesday, June 1st. Deutsche Bank AG reiterated a “buy” rating on shares of Noble Energy in a report on Sunday, July 10th. Credit Suisse Group AG reiterated a “buy” rating on shares of Noble Energy in a report on Thursday, June 2nd. Finally, Stifel Nicolaus increased their target price on shares of Noble Energy from $37.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, June 8th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $40.05.
Shares of Noble Energy (NYSE:NBL) traded up 2.33% during mid-day trading on Monday, reaching $33.79. 1,786,245 shares of the company’s stock traded hands. Noble Energy has a 12-month low of $23.77 and a 12-month high of $39.85. The firm has a 50-day moving average of $34.87 and a 200 day moving average of $34.82. The company’s market cap is $14.53 billion.
Noble Energy (NYSE:NBL) last announced its earnings results on Wednesday, August 3rd. The oil and gas development company reported ($0.24) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.05. The company earned $847 million during the quarter, compared to the consensus estimate of $909.36 million. Noble Energy had a negative net margin of 90.52% and a negative return on equity of 2.16%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.26 earnings per share. Equities analysts forecast that Noble Energy will post ($1.09) EPS for the current year.
In related news, Director Jeffrey L. Berenson sold 10,000 shares of Noble Energy stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $34.05, for a total value of $340,500.00. Following the sale, the director now owns 82,269 shares in the company, valued at $2,801,259.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.17% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. bought a new stake in Noble Energy during the first quarter valued at $150,000. NN Investment Partners Holdings N.V. bought a new stake in Noble Energy during the first quarter valued at $4,027,000. Nikko Asset Management Americas Inc. boosted its stake in Noble Energy by 2.9% in the first quarter. Nikko Asset Management Americas Inc. now owns 357,000 shares of the oil and gas development company’s stock valued at $10,988,000 after buying an additional 10,100 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Noble Energy by 1.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 11,044,227 shares of the oil and gas development company’s stock valued at $346,899,000 after buying an additional 123,419 shares during the period. Finally, BlackRock Group LTD boosted its stake in Noble Energy by 0.4% in the first quarter. BlackRock Group LTD now owns 4,289,859 shares of the oil and gas development company’s stock valued at $134,744,000 after buying an additional 17,849 shares during the period. Institutional investors and hedge funds own 93.83% of the company’s stock.
Noble Energy Company Profile
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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