Noble Energy Inc. (NBL) Receives Buy Rating from Johnson Rice
Johnson Rice restated their buy rating on shares of Noble Energy Inc. (NYSE:NBL) in a research note published on Thursday morning. The firm currently has a $21.00 price objective on the oil and gas development company’s stock, up from their prior price objective of $19.00.
NBL has been the topic of a number of other reports. Simmons began coverage on shares of Noble Energy in a research note on Wednesday, June 8th. They set an overweight rating and a $48.00 price objective on the stock. Credit Agricole SA began coverage on Noble Energy in a report on Wednesday, June 22nd. They set an outperform rating on the stock. Seaport Global Securities raised Noble Energy from a neutral rating to a buy rating and lifted their target price for the stock from $36.00 to $45.00 in a report on Tuesday, June 7th. Sterne Agee CRT raised Noble Energy from a neutral rating to a buy rating and lifted their target price for the stock from $35.33 to $47.00 in a report on Wednesday, May 25th. They noted that the move was a valuation call. Finally, Stifel Nicolaus lifted their target price on Noble Energy from $37.00 to $45.00 and gave the stock a buy rating in a report on Wednesday, June 8th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $41.10.
Noble Energy (NYSE:NBL) opened at 33.10 on Thursday. The stock’s market capitalization is $14.23 billion. The stock’s 50 day moving average is $34.89 and its 200 day moving average is $34.83. Noble Energy has a one year low of $23.77 and a one year high of $39.85.
Noble Energy (NYSE:NBL) last issued its quarterly earnings data on Wednesday, August 3rd. The oil and gas development company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.05. Noble Energy had a negative net margin of 90.52% and a negative return on equity of 2.16%. The business had revenue of $847 million for the quarter, compared to analysts’ expectations of $909.36 million. During the same period in the previous year, the business earned $0.26 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. On average, equities analysts forecast that Noble Energy will post ($1.09) EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 22nd. Stockholders of record on Monday, August 8th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, August 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.21%. Noble Energy’s dividend payout ratio (DPR) is presently -5.88%.
In other news, Director Jeffrey L. Berenson sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $34.05, for a total transaction of $340,500.00. Following the sale, the director now directly owns 82,269 shares in the company, valued at $2,801,259.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas J. Edelman sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, June 24th. The shares were sold at an average price of $35.09, for a total value of $421,080.00. Following the sale, the director now owns 3,032,978 shares in the company, valued at $106,427,198.02. The disclosure for this sale can be found here. Insiders own 2.17% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Checchi Capital Advisers LLC boosted its stake in Noble Energy by 1.4% in the second quarter. Checchi Capital Advisers LLC now owns 3,592 shares of the oil and gas development company’s stock worth $129,000 after buying an additional 49 shares in the last quarter. Advisor Group Inc. purchased a new stake in Noble Energy during the second quarter worth about $136,000. Bessemer Group Inc. purchased a new stake in Noble Energy during the first quarter worth about $150,000. Meeder Asset Management Inc. purchased a new stake in Noble Energy during the first quarter worth about $153,000. Finally, Creative Planning boosted its stake in Noble Energy by 34.7% in the second quarter. Creative Planning now owns 5,281 shares of the oil and gas development company’s stock worth $189,000 after buying an additional 1,360 shares in the last quarter. Institutional investors and hedge funds own 93.83% of the company’s stock.
Noble Energy Company Profile
Noble Energy, Inc is an independent energy company engaged in crude oil, natural gas and natural gas liquids (NGLs) exploration and production. The Company’s portfolio is diversified between short-term and long-term projects, domestic and international and a balanced production mix among crude oil, natural gas and NGLs.
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