Noble Energy, Inc. (NYSE:NBL) has been assigned an average recommendation of “Buy” from the thirty-one ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and twenty-one have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $41.86.
NBL has been the subject of a number of recent research reports. KLR Group reiterated a “buy” rating and set a $61.00 price objective on shares of Noble Energy in a research note on Monday, August 20th. Morgan Stanley initiated coverage on Noble Energy in a research note on Thursday, July 12th. They set an “equal weight” rating and a $39.00 price objective for the company. TD Securities set a $43.00 price objective on Noble Energy and gave the company a “buy” rating in a research note on Sunday, August 5th. Piper Jaffray Companies reissued an “overweight” rating on shares of Noble Energy in a report on Friday, September 28th. Finally, Stifel Nicolaus set a $46.00 price target on Noble Energy and gave the stock a “buy” rating in a report on Thursday, November 1st.
In other Noble Energy news, major shareholder Nbl Midstream, Llc sold 14,137,198 shares of the company’s stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $17.75, for a total value of $250,935,264.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.96% of the company’s stock.
A number of institutional investors have recently made changes to their positions in NBL. Principal Financial Group Inc. grew its position in Noble Energy by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 748,383 shares of the oil and gas development company’s stock valued at $22,676,000 after acquiring an additional 11,869 shares during the last quarter. Gulf International Bank UK Ltd grew its position in shares of Noble Energy by 1.7% during the 2nd quarter. Gulf International Bank UK Ltd now owns 145,626 shares of the oil and gas development company’s stock worth $5,137,000 after buying an additional 2,500 shares in the last quarter. IFM Investors Pty Ltd grew its position in shares of Noble Energy by 47.7% during the 2nd quarter. IFM Investors Pty Ltd now owns 22,157 shares of the oil and gas development company’s stock worth $782,000 after buying an additional 7,159 shares in the last quarter. Hexavest Inc. grew its position in shares of Noble Energy by 130.6% during the 2nd quarter. Hexavest Inc. now owns 1,094,467 shares of the oil and gas development company’s stock worth $38,613,000 after buying an additional 619,787 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its position in shares of Noble Energy by 36.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 107,892 shares of the oil and gas development company’s stock worth $3,805,000 after buying an additional 28,980 shares in the last quarter. 97.43% of the stock is currently owned by institutional investors.
Noble Energy stock opened at $27.03 on Friday. The stock has a market cap of $12.73 billion, a price-to-earnings ratio of 87.19, a PEG ratio of 2.76 and a beta of 1.08. 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.
Noble Energy (NYSE:NBL) last announced its quarterly earnings data on Thursday, November 1st. The oil and gas development company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.09. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.16 billion. Noble Energy had a return on equity of 4.82% and a net margin of 25.09%. The firm’s revenue was up 32.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.02) EPS. On average, sell-side analysts expect that Noble Energy will post 0.95 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Monday, November 5th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Friday, November 2nd. Noble Energy’s dividend payout ratio (DPR) is presently 141.94%.
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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