Noble Energy (NYSE:NBL) had its price target reduced by TD Securities from $42.00 to $39.00 in a research note released on Friday. They currently have a buy rating on the oil and gas development company’s stock.
A number of other research analysts also recently issued reports on the stock. Piper Jaffray Companies reiterated an overweight rating on shares of Noble Energy in a research note on Friday, September 28th. Morgan Stanley decreased their price target on shares of Noble Energy from $39.00 to $36.00 and set a hold rating for the company in a research note on Thursday, August 16th. Oppenheimer initiated coverage on shares of Noble Energy in a report on Wednesday, October 3rd. They set a market perform rating and a $43.00 price objective on the stock. KLR Group reissued a buy rating and set a $61.00 price objective on shares of Noble Energy in a report on Monday, August 20th. Finally, Citigroup cut their price objective on shares of Noble Energy from $44.00 to $42.00 and set a buy rating on the stock in a report on Monday, August 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $41.96.
Noble Energy stock traded up $0.42 during trading on Friday, reaching $26.76. The stock had a trading volume of 207,164 shares, compared to its average volume of 6,132,405. Noble Energy has a 52-week low of $23.83 and a 52-week high of $37.76. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $12.73 billion, a P/E ratio of 86.48, a P/E/G ratio of 2.76 and a beta of 1.08.
Noble Energy (NYSE:NBL) last issued its quarterly earnings results on Thursday, November 1st. The oil and gas development company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. Noble Energy had a net margin of 25.09% and a return on equity of 4.82%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. The firm’s quarterly revenue was up 32.6% on a year-over-year basis. As a group, research analysts anticipate that Noble Energy will post 0.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Monday, November 5th will be issued a $0.11 dividend. The ex-dividend date is Friday, November 2nd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.64%. Noble Energy’s payout ratio is 141.94%.
In other news, major shareholder Nbl Midstream, Llc sold 14,137,198 shares of Noble Energy stock in a transaction on Wednesday, September 26th. The shares were sold at an average price of $17.75, for a total value of $250,935,264.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.96% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Amalgamated Bank grew its position in Noble Energy by 3.4% in the 2nd quarter. Amalgamated Bank now owns 58,051 shares of the oil and gas development company’s stock valued at $2,048,000 after buying an additional 1,897 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Noble Energy by 1.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 152,805 shares of the oil and gas development company’s stock worth $4,766,000 after purchasing an additional 1,915 shares in the last quarter. Glen Harbor Capital Management LLC boosted its position in shares of Noble Energy by 5.9% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 36,176 shares of the oil and gas development company’s stock worth $1,276,000 after purchasing an additional 2,006 shares in the last quarter. Penn Davis Mcfarland Inc. boosted its position in shares of Noble Energy by 0.7% during the 2nd quarter. Penn Davis Mcfarland Inc. now owns 285,447 shares of the oil and gas development company’s stock worth $10,071,000 after purchasing an additional 2,025 shares in the last quarter. Finally, Whittier Trust Co. purchased a new stake in shares of Noble Energy during the 2nd quarter worth $163,000. 97.43% of the stock is currently owned by institutional investors and hedge funds.
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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