Piper Jaffray Companies restated their buy rating on shares of Noble Energy (NYSE:NBL) in a research note published on Tuesday, January 9th. They currently have a $41.00 price target on the oil and gas development company’s stock.
Several other research firms also recently commented on NBL. Stifel Nicolaus set a $41.00 price objective on Noble Energy and gave the company a buy rating in a report on Tuesday, November 28th. Royal Bank of Canada set a $36.00 price objective on Noble Energy and gave the company a buy rating in a report on Wednesday, December 20th. Cowen set a $40.00 price target on Noble Energy and gave the stock a buy rating in a report on Sunday, December 10th. Credit Suisse Group began coverage on Noble Energy in a report on Monday, December 11th. They set an outperform rating and a $35.00 price target for the company. Finally, Seaport Global Securities upgraded Noble Energy from a neutral rating to a buy rating in a 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 stock presently has a consensus rating of Buy and an average target price of $39.26.
Noble Energy (NYSE:NBL) opened at $31.69 on Tuesday. 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 $15,391.39, a P/E ratio of -7.94 and a beta of 1.16. Noble Energy has a 12 month low of $22.99 and a 12 month high of $40.89.
Noble Energy (NYSE:NBL) last issued its quarterly earnings results on Monday, October 30th. The oil and gas development company reported ($0.02) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.11. Noble Energy had a positive return on equity of 1.06% and a negative net margin of 45.85%. The firm had revenue of $960.00 million for the quarter, compared to analyst estimates of $961.61 million. During the same period in the previous year, the firm earned ($0.07) earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year.
In other news, Director James E. Craddock sold 18,787 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $28.57, for a total transaction of $536,744.59. Following the transaction, 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 Securities & Exchange Commission, which can be accessed through this link. Also, CEO David L. Stover purchased 19,000 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were purchased at an average cost of $26.31 per share, for a total transaction of $499,890.00. Following the transaction, the chief executive officer now directly owns 727,254 shares in the company, valued at $19,134,052.74. The disclosure for this purchase can be found here. Insiders have sold a total of 518,787 shares of company stock worth $14,283,745 in the last ninety days. Insiders own 2.28% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of NBL. Tower Research Capital LLC TRC purchased a new stake in Noble Energy during the 2nd quarter worth about $106,000. Massey Quick Simon & CO. LLC purchased a new stake in Noble Energy during the 3rd quarter worth about $155,000. Sawyer & Company Inc purchased a new stake in Noble Energy during the 4th quarter worth about $169,000. Pacer Advisors Inc. lifted its holdings in Noble Energy by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 7,598 shares of the oil and gas development company’s stock worth $215,000 after purchasing an additional 580 shares in the last quarter. Finally, BT Investment Management Ltd purchased a new stake in Noble Energy during the 2nd quarter worth about $221,000. 94.16% of the stock is currently owned by institutional investors and hedge funds.
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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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