Noble Energy (NYSE:NBL) has been assigned a $40.00 price objective by Jefferies Group in a research report issued to clients and investors on Monday, March 19th. The firm currently has a “buy” rating on the oil and gas development company’s stock. Jefferies Group’s price target indicates a potential upside of 28.45% from the company’s current price. Jefferies Group also issued estimates for Noble Energy’s Q1 2018 earnings at $0.21 EPS, Q2 2018 earnings at $0.18 EPS, Q3 2018 earnings at $0.19 EPS, Q4 2018 earnings at $0.24 EPS, FY2018 earnings at $0.81 EPS, Q1 2019 earnings at $0.25 EPS, Q2 2019 earnings at $0.27 EPS, Q3 2019 earnings at $0.31 EPS, Q4 2019 earnings at $0.35 EPS and FY2019 earnings at $1.19 EPS.
A number of other analysts have also weighed in on the stock. Mizuho set a $43.00 price objective on shares of Noble Energy and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Morgan Stanley increased their price objective on shares of Noble Energy from $36.00 to $39.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. JPMorgan Chase downgraded shares of Noble Energy from an “overweight” rating to a “neutral” rating and set a $30.00 price target on the stock. in a report on Friday, December 15th. Bank of America increased their price target on shares of Noble Energy from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Finally, Credit Suisse Group initiated coverage on shares of Noble Energy in a report on Monday, December 11th. They set an “outperform” rating and a $35.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twenty-one have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $40.71.
Shares of Noble Energy stock opened at $31.14 on Monday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.64. Noble Energy has a 12-month low of $22.99 and a 12-month high of $35.74. The company has a market cap of $14,401.54, a price-to-earnings ratio of 100.45 and a beta of 1.04.
Noble Energy (NYSE:NBL) last released its quarterly earnings data on Tuesday, February 20th. The oil and gas development company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.28. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.18 billion. Noble Energy had a negative net margin of 26.27% and a positive return on equity of 1.46%. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 earnings per share. research analysts forecast that Noble Energy will post 0.91 EPS for the current year.
Noble Energy announced that its board has initiated a stock buyback program on Thursday, February 15th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the oil and gas development company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
In other Noble Energy news, CFO Kenneth M. Fisher sold 7,621 shares of Noble Energy stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $28.80, for a total transaction of $219,484.80. Following the completion of the sale, the chief financial officer now directly owns 197,144 shares in the company, valued at $5,677,747.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James E. Craddock sold 8,500 shares of Noble Energy stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $31.35, for a total transaction of $266,475.00. Following the sale, the director now owns 93,413 shares of the company’s stock, valued at $2,928,497.55. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in NBL. Hexavest Inc. acquired a new stake in shares of Noble Energy during the fourth quarter valued at about $38,964,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Noble Energy during the fourth quarter valued at about $29,414,000. Alliancebernstein L.P. grew its holdings in shares of Noble Energy by 22.4% in the fourth quarter. Alliancebernstein L.P. now owns 3,984,847 shares of the oil and gas development company’s stock valued at $116,118,000 after purchasing an additional 728,937 shares in the last quarter. South Dakota Investment Council grew its holdings in shares of Noble Energy by 76.0% in the third quarter. South Dakota Investment Council now owns 1,379,863 shares of the oil and gas development company’s stock valued at $39,133,000 after purchasing an additional 595,865 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Noble Energy by 16.2% in the fourth quarter. Bank of New York Mellon Corp now owns 4,258,901 shares of the oil and gas development company’s stock valued at $124,105,000 after purchasing an additional 593,180 shares in the last quarter. Institutional investors and hedge funds own 95.64% of the company’s stock.
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About Noble Energy
Noble Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids worldwide. It owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins. It principal projects are primarily located in the US unconventional basins and various global offshore conventional basins.
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