Noble Energy (NYSE:NBL) Stock Rating Reaffirmed by Morgan Stanley

Morgan Stanley reissued their buy rating on shares of Noble Energy (NYSE:NBL) in a research note issued to investors on Tuesday, AnalystRatings.com reports. Morgan Stanley currently has a $29.00 target price on the oil and gas development company’s stock.

Several other analysts have also recently commented on NBL. Citigroup raised their target price on Noble Energy from $29.00 to $32.00 and gave the company a buy rating in a research report on Monday, September 23rd. Wolfe Research upgraded Noble Energy from a peer perform rating to an outperform rating and lowered their target price for the company from $31.00 to $30.00 in a research report on Tuesday, October 15th. KeyCorp started coverage on Noble Energy in a research report on Wednesday, July 31st. They issued a sector weight rating on the stock. ValuEngine upgraded Noble Energy from a sell rating to a hold rating in a research report on Thursday, August 1st. Finally, Piper Jaffray Companies set a $28.00 target price on Noble Energy and gave the company a buy rating in a research report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $30.89.

NBL traded down $0.63 during trading hours on Tuesday, hitting $20.88. The company’s stock had a trading volume of 10,208,036 shares, compared to its average volume of 5,558,298. Noble Energy has a fifty-two week low of $17.11 and a fifty-two week high of $28.40. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $10.08 billion, a PE ratio of 23.20 and a beta of 1.37. The company has a 50-day simple moving average of $20.65 and a 200 day simple moving average of $21.96.

Noble Energy (NYSE:NBL) last posted its earnings results on Thursday, November 7th. The oil and gas development company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01. Noble Energy had a negative return on equity of 0.82% and a negative net margin of 25.33%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the firm earned $0.27 EPS. The firm’s revenue was down 12.1% compared to the same quarter last year. Research analysts expect that Noble Energy will post -0.45 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Monday, November 4th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, November 1st. Noble Energy’s dividend payout ratio (DPR) is presently 53.33%.

Several hedge funds have recently modified their holdings of NBL. Invesco Ltd. increased its position in shares of Noble Energy by 23.8% during the 2nd quarter. Invesco Ltd. now owns 20,397,565 shares of the oil and gas development company’s stock valued at $456,904,000 after purchasing an additional 3,914,966 shares during the period. Nuveen Asset Management LLC increased its position in shares of Noble Energy by 7,030.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,802,904 shares of the oil and gas development company’s stock valued at $40,385,000 after purchasing an additional 1,777,621 shares during the period. Balyasny Asset Management LLC acquired a new position in shares of Noble Energy during the 2nd quarter valued at $29,064,000. Vanguard Group Inc. increased its position in shares of Noble Energy by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 52,781,608 shares of the oil and gas development company’s stock valued at $1,182,308,000 after purchasing an additional 695,568 shares during the period. Finally, DNB Asset Management AS increased its position in shares of Noble Energy by 31.4% during the 2nd quarter. DNB Asset Management AS now owns 2,025,531 shares of the oil and gas development company’s stock valued at $45,372,000 after purchasing an additional 483,966 shares during the period. Institutional investors own 98.64% of the company’s stock.

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. The company owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins.

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