Piper Jaffray Companies reissued their buy rating on shares of Noble Energy (NYSE:NBL) in a research note issued to investors on Tuesday morning. The firm currently has a $41.00 price objective on the oil and gas development company’s stock.
A number of other brokerages have also issued reports on NBL. Stifel Nicolaus set a $41.00 target price on shares of Noble Energy and gave the company a buy rating in a research note on Tuesday, November 28th. Royal Bank of Canada set a $36.00 target price on shares of Noble Energy and gave the company a buy rating in a research note on Wednesday, December 20th. Cowen set a $40.00 price objective on shares of Noble Energy and gave the company a buy rating in a research report on Sunday, December 10th. Credit Suisse Group began coverage on shares of Noble Energy in a research report on Monday, December 11th. They set an outperform rating and a $35.00 price objective for the company. Finally, Seaport Global Securities raised shares of Noble Energy from a neutral rating to a buy rating in a research report on Tuesday, December 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating and nineteen have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $39.47.
Shares of Noble Energy (NYSE:NBL) traded up $0.09 during trading on Tuesday, hitting $32.23. 4,247,700 shares of the stock were exchanged, compared to its average volume of 4,155,333. The firm has a market cap of $15,660.00, a price-to-earnings ratio of -8.08 and a beta of 1.16. 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 1-year low of $22.99 and a 1-year high of $40.89.
Noble Energy (NYSE:NBL) last issued its earnings results on Monday, October 30th. The oil and gas development company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.11. The business had revenue of $960.00 million for the quarter, compared to analyst estimates of $961.61 million. Noble Energy had a negative net margin of 45.85% and a positive return on equity of 1.06%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.07) EPS. equities analysts expect that Noble Energy will post -0.01 EPS for the current year.
In other Noble Energy news, Director James E. Craddock sold 18,787 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were 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 owns 114,226 shares in the company, valued at approximately $3,263,436.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Gary W. Willingham bought 30,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was purchased at an average price of $26.00 per share, with a total value of $780,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 518,787 shares of company stock valued at $14,283,745. 2.28% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. CNH Partners LLC bought a new position in Noble Energy in the 2nd quarter worth about $1,348,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in Noble Energy in the 3rd quarter worth about $11,285,000. Highstreet Asset Management Inc. grew its position in Noble Energy by 69.3% in the 3rd quarter. Highstreet Asset Management Inc. now owns 70,082 shares of the oil and gas development company’s stock worth $1,988,000 after purchasing an additional 28,679 shares during the last quarter. Janus Henderson Group PLC grew its position in Noble Energy by 3,250.9% in the 2nd quarter. Janus Henderson Group PLC now owns 1,859,263 shares of the oil and gas development company’s stock worth $52,617,000 after purchasing an additional 1,803,778 shares during the last quarter. Finally, Retirement Systems of Alabama grew its position in Noble Energy by 7.0% in the 3rd quarter. Retirement Systems of Alabama now owns 236,050 shares of the oil and gas development company’s stock worth $6,694,000 after purchasing an additional 15,349 shares during the last quarter. Hedge funds and other institutional investors own 94.16% of the company’s stock.
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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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