Noble Energy, Inc. (NYSE:NBL) has been given a consensus recommendation of “Buy” by the twenty-four brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nineteen have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $41.44.
A number of research firms have issued reports on NBL. Morgan Stanley increased their target price on Noble Energy from $36.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Credit Suisse Group set a $40.00 target price on Noble Energy and gave the stock a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Stifel Nicolaus set a $40.00 target price on Noble Energy and gave the stock a “buy” rating in a report on Monday, January 29th. Jefferies Group set a $38.00 target price on Noble Energy and gave the stock a “buy” rating in a report on Tuesday, January 30th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $41.00 price objective on shares of Noble Energy in a research note on Tuesday, January 9th.
Noble Energy (NYSE:NBL) traded down $0.81 during mid-day trading on Tuesday, reaching $30.62. The company’s stock had a trading volume of 2,820,614 shares, compared to its average volume of 5,888,075. The company has a market cap of $15,290.00, a PE ratio of -8.21 and a beta of 1.14. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.27. Noble Energy has a 52-week low of $22.99 and a 52-week high of $37.33.
Noble Energy (NYSE:NBL) last released its earnings results on Tuesday, February 20th. The oil and gas development company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.28. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Noble Energy had a positive return on equity of 1.46% and a negative net margin of 26.27%. The company’s revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS. equities analysts expect that Noble Energy will post 0.91 earnings per share for the current year.
Noble Energy announced that its Board of Directors has initiated a stock buyback plan on Thursday, February 15th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the oil and gas development company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Monday, February 12th were paid a $0.10 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.40 annualized dividend and a yield of 1.31%. Noble Energy’s dividend payout ratio (DPR) is currently -10.67%.
In other news, VP Gary W. Willingham bought 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was acquired at an average cost of $26.00 per share, for a total transaction of $780,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas J. Edelman sold 200,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $26.99, for a total transaction of $5,398,000.00. Following the completion of the sale, the director now owns 2,952,878 shares of the company’s stock, valued at $79,698,177.22. The disclosure for this sale can be found here. Company insiders own 2.28% of the company’s stock.
Large investors have recently modified their holdings of the stock. Massey Quick Simon & CO. LLC acquired a new stake in Noble Energy in the 3rd quarter valued at about $155,000. Sawyer & Company Inc acquired a new stake in Noble Energy in the 4th quarter valued at about $169,000. Lourd Capital LLC acquired a new stake in Noble Energy in the 4th quarter valued at about $203,000. Levin Capital Strategies L.P. acquired a new stake in Noble Energy in the 4th quarter valued at about $219,000. Finally, FDx Advisors Inc. acquired a new stake in Noble Energy in the 4th quarter valued at about $231,000. Institutional investors and hedge funds own 94.47% of the company’s stock.
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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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