Piper Jaffray Companies reiterated their buy rating on shares of Noble Energy Inc. (NYSE:NBL) in a research note issued to investors on Friday morning. They currently have a $35.00 target price on the oil and gas development company’s stock.
NBL has been the subject of a number of other reports. BMO Capital Markets set a $33.00 price objective on shares of Noble Energy and gave the stock a buy rating in a research note on Tuesday, October 10th. Scotiabank set a $38.00 price objective on shares of Noble Energy and gave the stock a hold rating in a research note on Thursday, August 3rd. Morgan Stanley boosted their price objective on shares of Noble Energy from $34.00 to $36.00 and gave the stock an overweight rating in a research note on Wednesday, October 18th. Barclays PLC boosted their price objective on shares of Noble Energy from $32.00 to $33.00 and gave the stock an overweight rating in a research note on Wednesday, October 11th. Finally, Seaport Global Securities upgraded shares of Noble Energy from a sell rating to a neutral rating and boosted their price objective for the stock from $23.00 to $26.00 in a research note on Friday, August 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $40.64.
Shares of Noble Energy (NYSE:NBL) opened at $25.76 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.95 and a quick ratio of 0.95. Noble Energy has a one year low of $22.99 and a one year high of $42.03. The firm has a market cap of $12,630.00, a price-to-earnings ratio of 108.17 and a beta of 1.18.
Noble Energy (NYSE:NBL) last issued its quarterly earnings data on Monday, October 30th. The oil and gas development company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.11. Noble Energy had a negative net margin of 45.85% and a positive return on equity of 1.06%. The business had revenue of $960.00 million during the quarter, compared to analysts’ expectations of $961.61 million. During the same period in the previous year, the company earned ($0.07) earnings per share. Noble Energy’s revenue for the quarter was up 5.5% on a year-over-year basis. research analysts anticipate that Noble Energy will post -0.06 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Monday, November 6th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Friday, November 3rd. Noble Energy’s payout ratio is -10.03%.
In other Noble Energy news, Director James E. Craddock sold 18,787 shares of the stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $28.57, for a total transaction of $536,744.59. Following the sale, the director now owns 114,226 shares of the company’s stock, valued at approximately $3,263,436.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas J. Edelman sold 300,000 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $27.83, for a total transaction of $8,349,000.00. The disclosure for this sale can be found here. 2.28% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the business. Creative Planning grew its holdings in Noble Energy by 34.1% during the 2nd quarter. Creative Planning now owns 36,377 shares of the oil and gas development company’s stock worth $1,029,000 after acquiring an additional 9,247 shares during the last quarter. Shell Asset Management Co. lifted its position in Noble Energy by 4.4% during the 2nd quarter. Shell Asset Management Co. now owns 108,468 shares of the oil and gas development company’s stock valued at $3,070,000 after purchasing an additional 4,528 shares during the period. State of Tennessee Treasury Department lifted its position in Noble Energy by 68.3% during the 2nd quarter. State of Tennessee Treasury Department now owns 200,290 shares of the oil and gas development company’s stock valued at $5,668,000 after purchasing an additional 81,285 shares during the period. Meiji Yasuda Asset Management Co Ltd. acquired a new position in Noble Energy during the 2nd quarter valued at about $460,000. Finally, CNH Partners LLC acquired a new position in Noble Energy during the 2nd quarter valued at about $1,348,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.
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.
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