Noble Energy Inc. (NYSE:NBL) Receives Consensus Recommendation of “Buy” from Analysts
Noble Energy Inc. (NYSE:NBL) has been assigned a consensus rating of “Buy” from the twenty-six brokerages that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, nineteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $40.26.
A number of analysts recently commented on NBL shares. Barclays PLC restated an “overweight” rating and issued a $41.00 price objective (down previously from $46.00) on shares of Noble Energy in a research report on Saturday, April 22nd. Royal Bank Of Canada restated a “buy” rating and issued a $48.00 price objective on shares of Noble Energy in a research report on Tuesday, April 25th. Credit Suisse Group restated a “buy” rating and issued a $44.00 price objective on shares of Noble Energy in a research report on Thursday, April 27th. Evercore ISI restated an “outperform” rating and issued a $40.00 price objective on shares of Noble Energy in a research report on Tuesday, May 2nd. Finally, Scotiabank restated a “hold” rating and issued a $38.00 price objective on shares of Noble Energy in a research report on Wednesday, May 3rd.
Shares of Noble Energy (NBL) traded down 0.823% during mid-day trading on Friday, hitting $24.715. The stock had a trading volume of 2,411,924 shares. Noble Energy has a 12-month low of $24.63 and a 12-month high of $42.03. The stock’s 50-day moving average price is $27.83 and its 200-day moving average price is $32.39. The stock’s market capitalization is $11.67 billion.
Noble Energy (NYSE:NBL) last released its quarterly earnings data on Thursday, August 3rd. The oil and gas development company reported $0.05 EPS for the quarter, beating 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 business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the company earned ($0.24) EPS. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. On average, equities analysts anticipate that Noble Energy will post ($0.14) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 7th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, August 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.61%. Noble Energy’s dividend payout ratio is -9.90%.
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A number of large investors have recently modified their holdings of the stock. Fifth Third Bancorp increased 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 during the period. Private Advisor Group LLC purchased a new stake in shares of Noble Energy during the first quarter valued at about $132,000. Harbour Capital Advisors LLC purchased a new stake in shares of Noble Energy during the first quarter valued at about $136,000. Global X Management Co. LLC increased 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 during the period. Finally, Highbridge Capital Management LLC purchased a new stake in shares of Noble Energy during the first quarter valued at about $201,000. Institutional investors and hedge funds own 96.94% of the company’s stock.
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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