Noble Energy Inc. (NBL) Price Target Cut to $38.00
Noble Energy Inc. (NYSE:NBL) had its price objective cut by Citigroup Inc. from $45.00 to $38.00 in a research note published on Friday. They currently have a buy rating on the oil and gas development company’s stock.
Other research analysts have also recently issued reports about the stock. Scotiabank reiterated a hold rating and set a $38.00 target price on shares of Noble Energy in a report on Friday, June 30th. Royal Bank Of Canada reiterated a buy rating and set a $48.00 target price on shares of Noble Energy in a report on Tuesday, April 25th. Piper Jaffray Companies reiterated a buy rating and set a $47.00 target price on shares of Noble Energy in a report on Tuesday, May 23rd. Stifel Nicolaus reiterated a buy rating and set a $43.00 target price on shares of Noble Energy in a report on Friday, May 26th. Finally, Bank of America Corporation upgraded shares of Noble Energy from a neutral rating to a buy rating and dropped their target price for the stock from $53.00 to $49.00 in a report on Thursday, May 11th. Three analysts have rated the stock with a sell rating, three have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Noble Energy currently has an average rating of Buy and an average price target of $42.11.
Shares of Noble Energy (NBL) opened at 28.18 on Friday. The company’s market cap is $12.15 billion. The company’s 50-day moving average is $28.51 and its 200 day moving average is $33.32. Noble Energy has a 1-year low of $26.56 and a 1-year high of $42.03.
Noble Energy (NYSE:NBL) last issued its earnings results on Monday, May 1st. The oil and gas development company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.09. Noble Energy had a negative net margin of 17.75% and a negative return on equity of 0.44%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $974.54 million. During the same period in the prior year, the business earned ($0.53) EPS. The firm’s quarterly revenue was up 43.1% on a year-over-year basis. Equities analysts anticipate that Noble Energy will post ($0.20) EPS for the current year.
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Several institutional investors have recently bought and sold shares of NBL. Cambiar Investors LLC raised its position in Noble Energy by 2.8% in the first quarter. Cambiar Investors LLC now owns 1,209,445 shares of the oil and gas development company’s stock valued at $41,532,000 after buying an additional 32,437 shares during the period. Morgan Stanley raised its position in Noble Energy by 12.5% in the first quarter. Morgan Stanley now owns 2,704,117 shares of the oil and gas development company’s stock valued at $92,859,000 after buying an additional 301,069 shares during the period. Bridgewater Associates LP raised its position in Noble Energy by 1.3% in the first quarter. Bridgewater Associates LP now owns 107,164 shares of the oil and gas development company’s stock valued at $3,680,000 after buying an additional 1,402 shares during the period. Retirement Systems of Alabama raised its position in Noble Energy by 3.6% in the first quarter. Retirement Systems of Alabama now owns 210,503 shares of the oil and gas development company’s stock valued at $7,229,000 after buying an additional 7,317 shares during the period. Finally, ProShare Advisors LLC raised its position in Noble Energy by 86.0% in the first quarter. ProShare Advisors LLC now owns 132,825 shares of the oil and gas development company’s stock valued at $4,561,000 after buying an additional 61,415 shares during the period. 96.89% of the stock is owned by hedge funds and other institutional investors.
About Noble Energy
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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