Cowen and Company Reiterates $35.00 Price Target for Noble Energy Inc. (NBL)
Several other brokerages also recently commented on NBL. Credit Suisse Group restated a buy rating and issued a $44.00 target price on shares of Noble Energy in a research note on Thursday, April 27th. Evercore ISI restated an outperform rating and issued a $40.00 target price on shares of Noble Energy in a research note on Tuesday, May 2nd. Jefferies Group LLC set a $40.00 target price on shares of Noble Energy and gave the company a buy rating in a research note on Wednesday, May 17th. Scotiabank set a $41.00 target price on shares of Noble Energy and gave the company a hold rating in a research note on Tuesday, May 16th. Finally, Piper Jaffray Companies restated an overweight rating on shares of Noble Energy in a research note on Monday, May 15th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $41.48.
Noble Energy (NYSE NBL) opened at 23.41 on Friday. The firm’s market capitalization is $11.05 billion. The firm has a 50-day moving average of $26.53 and a 200-day moving average of $31.13. Noble Energy has a 1-year low of $22.99 and a 1-year high of $42.03.
Noble Energy (NYSE:NBL) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.18. Noble Energy had a negative net margin of 46.63% and a positive return on equity of 0.86%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the company earned ($0.24) earnings per share. The business’s revenue was up 25.0% compared to the same quarter last year. On average, analysts expect that Noble Energy will post ($0.14) earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Monday, August 7th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.40 annualized dividend and a yield of 1.71%. Noble Energy’s dividend payout ratio is currently -9.90%.
Hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp boosted its stake in shares of Noble Energy by 5.5% in the first quarter. Fifth Third Bancorp now owns 2,913 shares of the oil and gas development company’s stock valued at $100,000 after buying an additional 153 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Noble Energy during the second quarter valued at $106,000. Harbour Capital Advisors LLC purchased a new stake in shares of Noble Energy during the first quarter valued at $136,000. Global X Management Co. LLC boosted its stake in shares of Noble Energy by 30.1% in the first quarter. Global X Management Co. LLC now owns 5,702 shares of the oil and gas development company’s stock valued at $196,000 after buying an additional 1,319 shares in the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in shares of Noble Energy during the first quarter valued at $201,000. 91.83% of the stock is owned by hedge funds and other institutional investors.
Noble Energy Company Profile
Noble Energy, Inc is an independent energy company. The Company is engaged in crude oil, natural gas and natural gas and natural gas liquids (NGLs) exploration, development, production and acquisition. The Company’s segments include: United States, including the onshore DJ Basin, Permian Basin, Eagle Ford Shale, Marcellus Shale and offshore deepwater Gulf of Mexico, as well as the consolidated accounts of Noble Midstream Partners LP (Noble Midstream Partners); Eastern Mediterranean, including offshore Israel and Cyprus; West Africa, including offshore Equatorial Guinea, Cameroon and Gabon, and Other International and Corporate, including new ventures, such as offshore the Falkland Islands, Suriname and Newfoundland.
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