Noble Energy (NYSE:NBL) has been given an average recommendation of “Buy” by the twenty-six analysts that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and twenty-one have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $41.65.
Several equities analysts have recently issued reports on the company. Jefferies Group reiterated a “buy” rating and issued a $41.00 price target on shares of Noble Energy in a research note on Friday, February 23rd. Credit Suisse Group set a $40.00 price target on Noble Energy and gave the company a “buy” rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Mizuho set a $43.00 price target on Noble Energy and gave the company a “buy” rating in a research note on Tuesday, January 16th. Stifel Nicolaus set a $40.00 price target on Noble Energy and gave the company a “buy” rating in a research note on Monday, January 29th. Finally, KLR Group lifted their price target on Noble Energy from $9.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st.
Noble Energy stock opened at $33.77 on Wednesday. Noble Energy has a one year low of $22.99 and a one year high of $34.95. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.27. The firm has a market cap of $16,650.86, a price-to-earnings ratio of 108.94 and a beta of 1.04.
Noble Energy (NYSE:NBL) last posted its quarterly earnings data on Tuesday, February 20th. The oil and gas development company reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.28. Noble Energy had a positive return on equity of 1.46% and a negative net margin of 26.27%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the company earned $0.26 EPS. The company’s revenue was up 18.9% on a year-over-year basis. equities research analysts expect that Noble Energy will post 0.98 earnings per share for the current fiscal year.
Noble Energy announced that its board has authorized a stock buyback plan on Thursday, February 15th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the oil and gas development company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.
In related news, Director James E. Craddock sold 8,500 shares of the firm’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $31.35, for a total transaction of $266,475.00. Following the sale, the director now owns 93,413 shares of the company’s stock, valued at approximately $2,928,497.55. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kenneth M. Fisher sold 7,621 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $28.80, for a total value of $219,484.80. Following the sale, the chief financial officer now directly owns 197,144 shares in the company, valued at approximately $5,677,747.20. The disclosure for this sale can be found here. Company insiders own 1.96% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Xact Kapitalforvaltning AB lifted its holdings in Noble Energy by 14.8% during the 4th quarter. Xact Kapitalforvaltning AB now owns 47,308 shares of the oil and gas development company’s stock worth $1,379,000 after buying an additional 6,105 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Noble Energy by 14.3% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 225,333 shares of the oil and gas development company’s stock worth $6,566,000 after buying an additional 28,191 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. lifted its holdings in Noble Energy by 45.7% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 28,702 shares of the oil and gas development company’s stock worth $836,000 after buying an additional 9,000 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its holdings in Noble Energy by 17.3% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 275,700 shares of the oil and gas development company’s stock worth $8,034,000 after buying an additional 40,700 shares during the period. Finally, MetLife Investment Advisors LLC acquired a new position in Noble Energy during the 4th quarter worth about $4,387,000. 95.65% of the stock is currently owned by hedge funds and other institutional investors.
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About Noble Energy
Noble Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids worldwide. It owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins. It principal projects are primarily located in the US unconventional basins and various global offshore conventional basins.
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