Royal Bank of Canada set a $39.00 price target on Noble Energy (NYSE:NBL) in a report issued on Friday, April 13th. The brokerage currently has a buy rating on the oil and gas development company’s stock.
A number of other research firms have also recently issued reports on NBL. Jefferies Group set a $38.00 price objective on shares of Noble Energy and gave the stock a buy rating in a research report on Tuesday, January 30th. UBS initiated coverage on shares of Noble Energy in a research report on Wednesday, March 7th. They set a buy rating and a $40.00 price objective for the company. Credit Suisse Group set a $40.00 price objective on shares of Noble Energy and gave the stock a buy rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Seaport Global Securities upgraded shares of Noble Energy from a neutral rating to a buy rating in a research report on Tuesday, December 19th. Finally, Stifel Nicolaus set a $42.00 price objective on shares of Noble Energy and gave the stock a buy rating in a research report on Monday, December 18th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-one have given a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $40.90.
Shares of Noble Energy stock traded down $0.06 on Friday, reaching $33.77. 3,486,739 shares of the stock were exchanged, compared to its average volume of 3,770,770. Noble Energy has a one year low of $22.99 and a one year high of $34.95. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.64. The company has a market cap of $16,650.86, a PE ratio of 108.94 and a beta of 1.04.
Noble Energy (NYSE:NBL) last issued its quarterly earnings results 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. Noble Energy had a negative net margin of 26.27% and a positive return on equity of 1.46%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the firm posted $0.26 EPS. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. research analysts forecast that Noble Energy will post 0.98 earnings per share for the current year.
Noble Energy announced that its board has approved a share buyback plan on Thursday, February 15th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the oil and gas development company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In other news, CFO Kenneth M. Fisher sold 7,621 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $28.80, for a total value of $219,484.80. Following the sale, the chief financial officer now directly owns 197,144 shares of the company’s stock, valued at approximately $5,677,747.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James E. Craddock sold 8,500 shares of the company’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $31.35, for a total transaction of $266,475.00. Following the completion of the sale, the director now directly owns 93,413 shares in the company, valued at $2,928,497.55. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company’s stock.
Several large investors have recently bought and sold shares of NBL. Envestnet Asset Management Inc. boosted its stake in Noble Energy by 32.9% during the third quarter. Envestnet Asset Management Inc. now owns 46,684 shares of the oil and gas development company’s stock worth $1,326,000 after acquiring an additional 11,555 shares in the last quarter. AMP Capital Investors Ltd boosted its stake in Noble Energy by 3.2% during the third quarter. AMP Capital Investors Ltd now owns 124,748 shares of the oil and gas development company’s stock worth $3,538,000 after acquiring an additional 3,900 shares in the last quarter. Vident Investment Advisory LLC bought a new position in Noble Energy during the third quarter worth $361,000. Janus Henderson Group PLC boosted its stake in Noble Energy by 29.1% during the third quarter. Janus Henderson Group PLC now owns 2,399,484 shares of the oil and gas development company’s stock worth $68,049,000 after acquiring an additional 540,221 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in Noble Energy by 2.7% during the third quarter. California Public Employees Retirement System now owns 872,389 shares of the oil and gas development company’s stock worth $24,741,000 after acquiring an additional 22,605 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors.
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Noble Energy Company Profile
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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