Imperial Capital reiterated their outperform rating on shares of Noble Energy (NYSE:NBL) in a research report sent to investors on Wednesday. The firm currently has a $52.00 price target on the oil and gas development company’s stock, up from their prior price target of $44.00.
Other research analysts have also issued reports about the stock. Capital One Financial upgraded shares of Noble Energy from an equal weight rating to an overweight rating in a report on Wednesday, January 10th. Deutsche Bank set a $40.00 target price on shares of Noble Energy and gave the company a buy rating in a report on Wednesday. ValuEngine lowered shares of Noble Energy from a hold rating to a sell rating in a report on Friday, February 2nd. Credit Suisse Group assumed coverage on shares of Noble Energy in a report on Monday, December 11th. They issued an outperform rating and a $35.00 target price on the stock. Finally, Wolfe Research lowered shares of Noble Energy from an outperform rating to a market perform rating in a report on Tuesday, January 30th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nineteen have issued a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $39.74.
Noble Energy (NYSE:NBL) opened at $29.13 on Wednesday. The stock has a market cap of $14,178.61, a PE ratio of -12.19 and a beta of 1.14. The company has a quick ratio of 0.95, a current 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 $37.78.
Noble Energy (NYSE:NBL) last released its earnings results on Tuesday, February 20th. The oil and gas development company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.28. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.18 billion. Noble Energy had a negative net margin of 26.27% and a positive return on equity of 1.49%. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 EPS. equities research analysts predict that Noble Energy will post 0.46 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 26th. Stockholders of record on Monday, February 12th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, February 9th. This represents a $0.40 annualized dividend and a dividend yield of 1.37%. Noble Energy’s payout ratio is currently -16.74%.
Noble Energy announced that its board has initiated a share buyback program on Thursday, February 15th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the oil and gas development company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
In related news, CFO Kenneth M. Fisher sold 7,621 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $28.80, for a total transaction of $219,484.80. Following the completion of the sale, the chief financial officer now owns 197,144 shares of the company’s stock, valued at approximately $5,677,747.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David L. Stover bought 19,000 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The shares were acquired at an average cost of $26.31 per share, with a total value of $499,890.00. Following the transaction, the chief executive officer now owns 727,254 shares in the company, valued at approximately $19,134,052.74. The disclosure for this purchase can be found here. 2.28% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of NBL. Massey Quick Simon & CO. LLC acquired a new stake in Noble Energy during the 3rd quarter worth approximately $155,000. Sawyer & Company Inc acquired a new stake in Noble Energy during the 4th quarter worth approximately $169,000. Lourd Capital LLC acquired a new stake in Noble Energy during the 4th quarter worth approximately $203,000. Levin Capital Strategies L.P. acquired a new stake in Noble Energy during the 4th quarter worth approximately $219,000. Finally, FDx Advisors Inc. acquired a new stake in Noble Energy during the 4th quarter worth approximately $231,000. 94.47% of the stock is owned by hedge funds and other institutional investors.
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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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