Noble Energy Inc. (NBL) Rating Reiterated by Piper Jaffray Companies
Noble Energy Inc. (NYSE:NBL)‘s stock had its “buy” rating reaffirmed by equities researchers at Piper Jaffray Companies in a research report issued on Friday. They currently have a $35.00 price target on the oil and gas development company’s stock. Piper Jaffray Companies’ target price indicates a potential upside of 34.82% from the stock’s previous close.
Other equities analysts have also issued reports about the stock. Citigroup Inc. reduced their target price on shares of Noble Energy from $45.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Royal Bank Of Canada set a $37.00 target price on shares of Noble Energy and gave the stock a “buy” rating in a research report on Sunday, October 15th. Barclays PLC reduced their target price on shares of Noble Energy from $33.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday. BMO Capital Markets set a $37.00 target price on shares of Noble Energy and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Finally, Imperial Capital assumed coverage on shares of Noble Energy in a research report on Thursday, September 28th. They set an “outperform” rating and a $40.00 target price on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $40.64.
Noble Energy (NYSE:NBL) opened at $25.96 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.95 and a quick ratio of 0.95. Noble Energy has a 1-year low of $22.99 and a 1-year high of $42.03. The company has a market cap of $12,632.32, a PE ratio of 108.17 and a beta of 1.18.
Noble Energy (NYSE:NBL) last posted its quarterly earnings data on Monday, October 30th. The oil and gas development company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.11. Noble Energy had a negative net margin of 45.85% and a positive return on equity of 1.06%. The company had revenue of $960.00 million for the quarter, compared to analyst estimates of $961.61 million. During the same period in the prior year, the company posted ($0.07) EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. research analysts expect that Noble Energy will post -0.06 earnings per share for the current year.
In other news, Director James E. Craddock sold 18,787 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $28.57, for a total transaction of $536,744.59. Following the completion of the sale, the director now owns 114,226 shares of the company’s stock, valued at $3,263,436.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas J. Edelman sold 300,000 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $27.83, for a total transaction of $8,349,000.00. The disclosure for this sale can be found here. 2.28% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC acquired a new position in Noble Energy during the second quarter worth about $106,000. Massey Quick Simon & CO. LLC acquired a new position in Noble Energy during the third quarter worth about $155,000. Global X Management Co. LLC boosted its position in Noble Energy by 22.6% during the second quarter. Global X Management Co. LLC now owns 6,993 shares of the oil and gas development company’s stock worth $198,000 after acquiring an additional 1,291 shares during the last quarter. IBM Retirement Fund boosted its position in Noble Energy by 50.1% during the second quarter. IBM Retirement Fund now owns 7,142 shares of the oil and gas development company’s stock worth $202,000 after acquiring an additional 2,384 shares during the last quarter. Finally, IndexIQ Advisors LLC acquired a new position in Noble Energy during the second quarter worth about $214,000. Hedge funds and other institutional investors own 91.49% of the company’s stock.
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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