Noble Energy (NYSE:NBL) had its price target decreased by equities researchers at Barclays from $33.00 to $30.00 in a report issued on Thursday, November 16th, MarketBeat.com reports. The firm presently has an “overweight” rating on the oil and gas development company’s stock. Barclays’ price objective points to a potential upside of 11.77% from the stock’s current price.
Other equities analysts have also recently issued research reports about the stock. Citigroup cut their price target on shares of Noble Energy from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Royal Bank Of Canada set a $37.00 price objective on shares of Noble Energy and gave the stock a “buy” rating in a report on Sunday, October 15th. BMO Capital Markets set a $37.00 price objective on shares of Noble Energy and gave the stock a “buy” rating in a report on Thursday, August 3rd. Piper Jaffray Companies restated a “buy” rating on shares of Noble Energy in a report on Sunday, August 20th. Finally, Imperial Capital assumed coverage on shares of Noble Energy in a report on Thursday, September 28th. They issued an “outperform” rating and a $40.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $40.60.
Shares of Noble Energy (NBL) traded down $0.16 during trading hours on Thursday, reaching $26.84. 4,080,757 shares of the company traded hands, compared to its average volume of 5,142,619. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.75. Noble Energy has a 12 month low of $22.99 and a 12 month high of $42.03. The stock has a market capitalization of $13,138.40, a PE ratio of 112.50 and a beta of 1.16.
Noble Energy (NYSE:NBL) last released its quarterly earnings results on Monday, October 30th. The oil and gas development company reported ($0.02) EPS 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 quarter in the previous year, the company earned ($0.07) EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. equities analysts anticipate that Noble Energy will post -0.05 earnings per share for the current year.
In related news, VP Gary W. Willingham acquired 30,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was acquired at an average cost of $26.00 per share, for a total transaction of $780,000.00. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas J. Edelman sold 300,000 shares of the company’s stock in a transaction on 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.
Several large investors have recently added to or reduced their stakes in NBL. Ares Management LLC purchased a new stake in shares of Noble Energy in the 2nd quarter worth about $499,364,000. Capital World Investors grew its position in shares of Noble Energy by 20.8% in the 2nd quarter. Capital World Investors now owns 55,184,801 shares of the oil and gas development company’s stock worth $1,561,730,000 after buying an additional 9,488,951 shares during the period. Vanguard Group Inc. grew its position in shares of Noble Energy by 29.8% in the 2nd quarter. Vanguard Group Inc. now owns 38,933,217 shares of the oil and gas development company’s stock worth $1,101,810,000 after buying an additional 8,933,476 shares during the period. Carmignac Gestion grew its position in shares of Noble Energy by 107.3% in the 2nd quarter. Carmignac Gestion now owns 11,753,883 shares of the oil and gas development company’s stock worth $332,635,000 after buying an additional 6,084,237 shares during the period. Finally, Balyasny Asset Management LLC purchased a new stake in shares of Noble Energy in the 2nd quarter worth about $75,546,000. 94.32% of the stock is currently owned by hedge funds and other institutional investors.
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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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