Noble Energy Inc. (NBL) Receives Average Recommendation of “Buy” from Brokerages

Shares of Noble Energy Inc. (NYSE:NBL) have earned a consensus recommendation of “Buy” from the twenty-five brokerages that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation, seventeen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $38.92.

A number of analysts recently commented on NBL shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $32.00 price target (down from $36.00) on shares of Noble Energy in a research report on Tuesday, August 29th. Stifel Nicolaus set a $39.00 price target on Noble Energy and gave the company a “buy” rating in a research report on Thursday, October 5th. BMO Capital Markets set a $37.00 price target on Noble Energy and gave the company a “buy” rating in a research report on Thursday, August 3rd. Barclays PLC increased their price target on Noble Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Wednesday, October 11th. Finally, Scotiabank set a $38.00 price target on Noble Energy and gave the company a “hold” rating in a research report on Thursday, August 3rd.

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Noble Energy (NBL) traded up $0.16 during mid-day trading on Friday, hitting $25.96. The stock had a trading volume of 4,015,860 shares, compared to its average volume of 4,873,873. Noble Energy has a 52 week low of $22.99 and a 52 week high of $42.03. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $12,632.32, a price-to-earnings ratio of 108.17 and a beta of 1.18.

Noble Energy (NYSE:NBL) last posted its earnings results on Monday, October 30th. The oil and gas development company reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.11. The company had revenue of $960.00 million for the quarter, compared to analyst estimates of $961.61 million. Noble Energy had a positive return on equity of 1.06% and a negative net margin of 45.85%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.07) earnings per share. research analysts expect that Noble Energy will post -0.06 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 6th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Friday, November 3rd. Noble Energy’s dividend payout ratio (DPR) is presently -10.03%.

In other news, Director James E. Craddock sold 18,787 shares of Noble Energy stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $28.57, for a total value of $536,744.59. Following the completion of the transaction, the director now directly owns 114,226 shares in the company, valued at $3,263,436.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas J. Edelman sold 300,000 shares of Noble Energy stock in a transaction on Monday, November 13th. The shares were sold at an average price of $27.83, for a total value of $8,349,000.00. The disclosure for this sale can be found here. 2.28% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of NBL. Ares Management LLC bought a new stake in Noble Energy during the second quarter valued at $499,364,000. Capital World Investors boosted its stake in Noble Energy by 20.8% during the second quarter. Capital World Investors now owns 55,184,801 shares of the oil and gas development company’s stock valued at $1,561,730,000 after buying an additional 9,488,951 shares during the period. Vanguard Group Inc. boosted its stake in Noble Energy by 29.8% during the second quarter. Vanguard Group Inc. now owns 38,933,217 shares of the oil and gas development company’s stock valued at $1,101,810,000 after buying an additional 8,933,476 shares during the period. Carmignac Gestion boosted its stake in Noble Energy by 107.3% during the second quarter. Carmignac Gestion now owns 11,753,883 shares of the oil and gas development company’s stock valued at $332,635,000 after buying an additional 6,084,237 shares during the period. Finally, Balyasny Asset Management LLC bought a new stake in Noble Energy during the second quarter valued at $75,546,000. 91.49% of the stock is owned by 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.

Analyst Recommendations for Noble Energy (NYSE:NBL)

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