Noble Energy (NBL) Upgraded to “Hold” at ValuEngine

Noble Energy (NYSE:NBL) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Other analysts have also issued reports about the company. Deutsche Bank set a $40.00 price objective on Noble Energy and gave the company a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada set a $37.00 price objective on Noble Energy and gave the company a “buy” rating in a report on Friday, February 23rd. Stifel Nicolaus set a $45.00 price objective on Noble Energy and gave the company a “buy” rating in a report on Wednesday, March 28th. Wolfe Research lowered Noble Energy from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 30th. Finally, Jefferies Group reissued a “buy” rating and issued a $41.00 price objective on shares of Noble Energy in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $40.91.

Noble Energy opened at $36.23 on Thursday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17. Noble Energy has a one year low of $22.99 and a one year high of $36.53. The stock has a market capitalization of $17.23 billion, a P/E ratio of 116.87 and a beta of 1.02.

Noble Energy (NYSE:NBL) last announced its quarterly earnings data on Tuesday, May 1st. The oil and gas development company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.07. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.22 billion. Noble Energy had a positive return on equity of 3.25% and a negative net margin of 13.32%. Noble Energy’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.05) earnings per share. equities research analysts predict that Noble Energy will post 1.11 earnings per share for the current year.

Noble Energy declared that its board has approved a stock buyback plan on Thursday, February 15th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the oil and gas development company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

In related news, Director James E. Craddock sold 8,500 shares of the stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $31.35, for a total value of $266,475.00. Following the completion of the transaction, the director now directly owns 93,413 shares of the company’s stock, valued at approximately $2,928,497.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Andrea Lee Robison sold 8,760 shares of the stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $35.00, for a total value of $306,600.00. Following the completion of the transaction, the vice president now directly owns 100,918 shares of the company’s stock, valued at $3,532,130. The disclosure for this sale can be found here. Insiders have sold 23,260 shares of company stock valued at $772,695 over the last ninety days. Corporate insiders own 1.96% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Tredje AP fonden grew its holdings in Noble Energy by 2.2% in the 1st quarter. Tredje AP fonden now owns 71,575 shares of the oil and gas development company’s stock worth $2,169,000 after buying an additional 1,530 shares in the last quarter. United Capital Financial Advisers LLC grew its holdings in Noble Energy by 23.7% in the 1st quarter. United Capital Financial Advisers LLC now owns 9,510 shares of the oil and gas development company’s stock worth $288,000 after buying an additional 1,823 shares in the last quarter. US Bancorp DE grew its holdings in Noble Energy by 7.8% in the 1st quarter. US Bancorp DE now owns 25,330 shares of the oil and gas development company’s stock worth $767,000 after buying an additional 1,842 shares in the last quarter. Bank of Hawaii grew its holdings in Noble Energy by 8.4% in the 1st quarter. Bank of Hawaii now owns 24,126 shares of the oil and gas development company’s stock worth $731,000 after buying an additional 1,865 shares in the last quarter. Finally, Lucas Capital Management grew its holdings in Noble Energy by 18.7% in the 4th quarter. Lucas Capital Management now owns 12,700 shares of the oil and gas development company’s stock worth $372,000 after buying an additional 2,000 shares in the last quarter. 96.57% of the stock is owned by institutional investors and hedge funds.

Noble Energy Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Noble Energy (NYSE:NBL)

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