Noble Energy Inc. (NBL) Stock Rating Lowered by Citigroup Inc.

Citigroup Inc. lowered shares of Noble Energy Inc. (NYSE:NBL) from a buy rating to a neutral rating in a report released on Friday morning.

Other research analysts have also issued research reports about the company. KLR Group reaffirmed a buy rating on shares of Noble Energy in a research report on Monday, March 13th. Credit Suisse Group set a $44.00 price objective on Noble Energy and gave the company a buy rating in a research report on Saturday, March 11th. Jefferies Group LLC reaffirmed a buy rating and set a $47.00 price objective on shares of Noble Energy in a research report on Friday, March 3rd. Wunderlich reaffirmed a buy rating and set a $53.00 price objective on shares of Noble Energy in a research report on Thursday, February 16th. Finally, Royal Bank Of Canada reaffirmed a buy rating and set a $48.00 price objective on shares of Noble Energy in a research report on Tuesday, April 25th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $43.88.

Analyst Recommendations for Noble Energy (NYSE:NBL)

Shares of Noble Energy (NBL) opened at 28.12 on Friday. Noble Energy has a 52 week low of $27.72 and a 52 week high of $42.03. The firm’s market cap is $12.12 billion. The firm has a 50-day moving average price of $30.09 and a 200-day moving average price of $35.20.

Noble Energy (NYSE:NBL) last posted its quarterly earnings data on Monday, May 1st. The oil and gas development company reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.09. Noble Energy had a negative return on equity of 0.44% and a negative net margin of 17.75%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $974.54 million. During the same quarter last year, the company earned ($0.53) EPS. The firm’s revenue for the quarter was up 43.1% on a year-over-year basis. On average, equities research analysts predict that Noble Energy will post ($0.04) earnings per share for the current year.

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Several institutional investors have recently added to or reduced their stakes in the company. Cambiar Investors LLC increased its position in Noble Energy by 2.8% in the first quarter. Cambiar Investors LLC now owns 1,209,445 shares of the oil and gas development company’s stock worth $41,532,000 after buying an additional 32,437 shares during the period. Retirement Systems of Alabama increased its position in Noble Energy by 3.6% in the first quarter. Retirement Systems of Alabama now owns 210,503 shares of the oil and gas development company’s stock worth $7,229,000 after buying an additional 7,317 shares during the period. ProShare Advisors LLC increased its position in Noble Energy by 86.0% in the first quarter. ProShare Advisors LLC now owns 132,825 shares of the oil and gas development company’s stock worth $4,561,000 after buying an additional 61,415 shares during the period. Bridgewater Associates LP increased its position in Noble Energy by 1.3% in the first quarter. Bridgewater Associates LP now owns 107,164 shares of the oil and gas development company’s stock worth $3,680,000 after buying an additional 1,402 shares during the period. Finally, Renaissance Technologies LLC increased its position in Noble Energy by 26.6% in the fourth quarter. Renaissance Technologies LLC now owns 298,077 shares of the oil and gas development company’s stock worth $11,345,000 after buying an additional 62,600 shares during the period. Hedge funds and other institutional investors own 97.42% of the company’s stock.

About Noble Energy

Noble Energy, Inc is an independent energy company. The Company is engaged in crude oil, natural gas and natural gas and natural gas liquids (NGLs) exploration, development, production and acquisition. The Company’s segments include: United States, including the onshore DJ Basin, Permian Basin, Eagle Ford Shale, Marcellus Shale and offshore deepwater Gulf of Mexico, as well as the consolidated accounts of Noble Midstream Partners LP (Noble Midstream Partners); Eastern Mediterranean, including offshore Israel and Cyprus; West Africa, including offshore Equatorial Guinea, Cameroon and Gabon, and Other International and Corporate, including new ventures, such as offshore the Falkland Islands, Suriname and Newfoundland.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NBL”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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