Noble Energy (NBL) Given a $43.00 Price Target by Mizuho Analysts
Noble Energy (NYSE:NBL) has been assigned a $43.00 target price by stock analysts at Mizuho in a research note issued on Tuesday. The brokerage presently has a “buy” rating on the oil and gas development company’s stock. Mizuho’s price target points to a potential upside of 35.78% from the company’s current price.
Several other equities research analysts have also recently weighed in on the company. Royal Bank of Canada set a $37.00 price objective on Noble Energy and gave the stock a “buy” rating in a research note on Sunday, October 15th. Piper Jaffray Companies reissued a “buy” rating and set a $35.00 price objective on shares of Noble Energy in a research note on Friday, November 17th. Stifel Nicolaus set a $39.00 price objective on Noble Energy and gave the stock a “buy” rating in a research note on Thursday, October 5th. BMO Capital Markets set a $33.00 price objective on Noble Energy and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Finally, Cowen set a $40.00 price objective on Noble Energy and gave the stock a “buy” rating in a research note on Sunday, December 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and nineteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $39.26.
Shares of Noble Energy (NBL) opened at $31.67 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $15,683.35, a PE ratio of -7.94 and a beta of 1.16. Noble Energy has a 52-week low of $22.99 and a 52-week high of $40.89.
Noble Energy (NYSE:NBL) last posted its earnings results on Monday, October 30th. The oil and gas development company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.11. The company had revenue of $960.00 million for the quarter, compared to the consensus estimate of $961.61 million. Noble Energy had a positive return on equity of 1.06% and a negative net margin of 45.85%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.07) earnings per share.
In other Noble Energy news, CEO David L. Stover bought 19,000 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were purchased at an average price of $26.31 per share, with a total value of $499,890.00. Following the completion of the purchase, the chief executive officer now owns 727,254 shares in the company, valued at approximately $19,134,052.74. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James E. Craddock sold 18,787 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $28.57, for a total value of $536,744.59. Following the transaction, the director now directly owns 114,226 shares in the company, valued at approximately $3,263,436.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 518,787 shares of company stock worth $14,283,745. Insiders own 2.28% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new position in shares of Noble Energy during the second quarter valued at approximately $106,000. Massey Quick Simon & CO. LLC bought a new position in shares of Noble Energy during the third quarter valued at approximately $155,000. Sawyer & Company Inc bought a new position in shares of Noble Energy during the fourth quarter valued at approximately $169,000. BT Investment Management Ltd bought a new position in shares of Noble Energy during the second quarter valued at approximately $221,000. Finally, Riverhead Capital Management LLC grew its stake in shares of Noble Energy by 16.6% during the second quarter. Riverhead Capital Management LLC now owns 8,529 shares of the oil and gas development company’s stock valued at $241,000 after buying an additional 1,215 shares during the last quarter. 94.16% of the stock is currently owned by hedge funds and other institutional investors.
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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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