Royal Bank Of Canada set a $37.00 price objective on Noble Energy Inc. (NYSE:NBL) in a report published on Sunday, October 15th. The brokerage currently has a buy rating on the oil and gas development company’s stock.
Other research analysts have also recently issued reports about the stock. Scotiabank reaffirmed a hold rating and issued a $38.00 target price on shares of Noble Energy in a report on Friday, June 30th. Citigroup Inc. lowered their price target on shares of Noble Energy from $45.00 to $38.00 and set a buy rating on the stock in a research report on Friday, July 21st. Seaport Global Securities lowered shares of Noble Energy from a neutral rating to a sell rating and lowered their price target for the company from $36.00 to $23.00 in a research report on Wednesday, June 21st. BMO Capital Markets reiterated a buy rating and issued a $45.00 price target on shares of Noble Energy in a research report on Thursday, June 22nd. Finally, Barclays PLC increased their price target on shares of Noble Energy from $31.00 to $32.00 and gave the company an overweight rating in a research report on Monday, August 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $40.76.
Shares of Noble Energy (NYSE NBL) opened at 26.87 on Friday. Noble Energy has a 12-month low of $22.99 and a 12-month high of $42.03. The company’s market cap is $12.68 billion. The firm’s 50-day moving average price is $27.13 and its 200 day moving average price is $28.41.
Noble Energy (NYSE:NBL) last issued its earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.18. Noble Energy had a negative net margin of 46.63% and a positive return on equity of 0.86%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the company posted ($0.24) earnings per share. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. On average, analysts predict that Noble Energy will post ($0.14) earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 6th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, November 3rd. Noble Energy’s dividend payout ratio (DPR) is presently -9.90%.
Several hedge funds and other institutional investors have recently bought and sold shares of NBL. Fifth Third Bancorp boosted its stake in Noble Energy by 5.5% during the 1st quarter. Fifth Third Bancorp now owns 2,913 shares of the oil and gas development company’s stock valued at $100,000 after purchasing an additional 153 shares during the period. Tower Research Capital LLC TRC acquired a new position in Noble Energy during the 2nd quarter valued at about $106,000. Harbour Capital Advisors LLC acquired a new position in Noble Energy during the 1st quarter valued at about $136,000. Global X Management Co. LLC boosted its stake in Noble Energy by 30.1% during the 1st quarter. Global X Management Co. LLC now owns 5,702 shares of the oil and gas development company’s stock valued at $196,000 after purchasing an additional 1,319 shares during the period. Finally, Highbridge Capital Management LLC acquired a new position in Noble Energy during the 1st quarter valued at about $201,000. 91.54% of the stock is owned by institutional investors and hedge funds.
Noble Energy Company Profile
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.
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