Noble Energy (NYSE:NBL)‘s stock had its “buy” rating restated by stock analysts at Jefferies Group in a research note issued to investors on Friday. They currently have a $41.00 target price on the oil and gas development company’s stock. Jefferies Group’s price target indicates a potential upside of 33.72% from the stock’s previous close. Jefferies Group also issued estimates for Noble Energy’s Q1 2018 earnings at $0.23 EPS, Q2 2018 earnings at $0.21 EPS, Q3 2018 earnings at $0.22 EPS, Q4 2018 earnings at $0.27 EPS, FY2018 earnings at $0.93 EPS, Q1 2019 earnings at $0.28 EPS, Q2 2019 earnings at $0.31 EPS, Q3 2019 earnings at $0.35 EPS, Q4 2019 earnings at $0.38 EPS and FY2019 earnings at $1.33 EPS.
Other analysts have also recently issued research reports about the stock. Mizuho set a $43.00 price objective on shares of Noble Energy and gave the company a “buy” rating in a research note on Tuesday, January 16th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $41.00 price objective on shares of Noble Energy in a research note on Tuesday, January 9th. Royal Bank of Canada set a $36.00 price objective on shares of Noble Energy and gave the company a “buy” rating in a research note on Wednesday, December 20th. Seaport Global Securities raised shares of Noble Energy from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 19th. Finally, Stifel Nicolaus set a $42.00 price objective on shares of Noble Energy and gave the company a “buy” rating in a research note on Monday, December 18th. 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’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $39.89.
Shares of Noble Energy (NBL) opened at $30.66 on Friday. Noble Energy has a one year low of $22.99 and a one year high of $37.70. The stock has a market cap of $14,310.08, a PE ratio of -12.83 and a beta of 1.14. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.95 and a current ratio of 1.27.
Noble Energy (NYSE:NBL) last announced its quarterly earnings data on Tuesday, February 20th. The oil and gas development company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.28. Noble Energy had a negative net margin of 26.27% and a positive return on equity of 1.46%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the company earned $0.26 EPS. Noble Energy’s revenue was up 18.9% compared to the same quarter last year. equities analysts expect that Noble Energy will post 0.6 earnings per share for the current year.
Noble Energy announced that its board has authorized a stock repurchase plan on Thursday, February 15th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the oil and gas development company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, Director Thomas J. Edelman sold 200,000 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $26.99, for a total value of $5,398,000.00. Following the completion of the sale, the director now owns 2,952,878 shares of the company’s stock, valued at approximately $79,698,177.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 directly owns 197,144 shares of the company’s stock, valued at approximately $5,677,747.20. The disclosure for this sale can be found here. Corporate insiders own 2.28% of the company’s stock.
Several large investors have recently bought and sold shares of NBL. Raymond James Financial Services Advisors Inc. boosted its position in shares of Noble Energy by 3.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 9,135 shares of the oil and gas development company’s stock worth $259,000 after purchasing an additional 293 shares during the period. Nationwide Fund Advisors boosted its position in shares of Noble Energy by 2.5% during the 3rd quarter. Nationwide Fund Advisors now owns 765,933 shares of the oil and gas development company’s stock worth $21,722,000 after purchasing an additional 18,528 shares during the period. Xact Kapitalforvaltning AB boosted its position in shares of Noble Energy by 4.9% during the 3rd quarter. Xact Kapitalforvaltning AB now owns 41,203 shares of the oil and gas development company’s stock worth $1,169,000 after purchasing an additional 1,943 shares during the period. First Trust Advisors LP boosted its position in shares of Noble Energy by 27.3% during the 3rd quarter. First Trust Advisors LP now owns 1,050,176 shares of the oil and gas development company’s stock worth $29,783,000 after purchasing an additional 225,302 shares during the period. Finally, Highstreet Asset Management Inc. boosted its position in shares of Noble Energy by 69.3% during 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 period. 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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