Susquehanna Bancshares Begins Coverage on Noble Energy (NYSE:NBL)

Stock analysts at Susquehanna Bancshares initiated coverage on shares of Noble Energy (NYSE:NBL) in a research note issued on Tuesday, Briefing.com Automated Import reports. The firm set a “positive” rating and a $27.00 price target on the oil and gas development company’s stock. Susquehanna Bancshares’ target price would suggest a potential upside of 21.29% from the stock’s previous close.

A number of other research analysts also recently issued reports on NBL. Stifel Nicolaus boosted their target price on shares of Noble Energy from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. ValuEngine downgraded shares of Noble Energy from a “hold” rating to a “sell” rating in a research report on Saturday, December 21st. Wells Fargo & Co boosted their target price on shares of Noble Energy from $24.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, January 9th. Morgan Stanley restated a “buy” rating and set a $29.00 target price on shares of Noble Energy in a research report on Tuesday, November 12th. Finally, Wolfe Research raised shares of Noble Energy from a “peer perform” rating to an “outperform” rating and cut their price objective for the company from $31.00 to $30.00 in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $31.26.

NYSE NBL opened at $22.26 on Tuesday. The company has a market capitalization of $10.65 billion, a PE ratio of 24.73 and a beta of 1.43. The company has a fifty day moving average of $22.73 and a 200 day moving average of $21.88. Noble Energy has a 1 year low of $19.01 and a 1 year high of $28.40. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.55 and a quick ratio of 0.55.

Noble Energy (NYSE:NBL) last posted its earnings results on Thursday, November 7th. The oil and gas development company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Noble Energy had a negative net margin of 25.33% and a negative return on equity of 0.82%. The firm’s quarterly revenue was down 12.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 earnings per share. Research analysts expect that Noble Energy will post -0.41 earnings per share for the current year.

In related news, Director Scott D. Urban bought 15,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was acquired at an average price of $20.38 per share, with a total value of $305,700.00. Following the completion of the purchase, the director now directly owns 48,118 shares of the company’s stock, valued at $980,644.84. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas J. Edelman sold 200,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $23.98, for a total transaction of $4,796,000.00. Following the sale, the director now directly owns 3,368,284 shares of the company’s stock, valued at approximately $80,771,450.32. The disclosure for this sale can be found here. 1.81% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in NBL. Schroder Investment Management Group increased its stake in shares of Noble Energy by 6.8% during the second quarter. Schroder Investment Management Group now owns 927,818 shares of the oil and gas development company’s stock worth $20,784,000 after purchasing an additional 58,836 shares in the last quarter. LPL Financial LLC boosted its holdings in Noble Energy by 8.8% in the 2nd quarter. LPL Financial LLC now owns 15,439 shares of the oil and gas development company’s stock valued at $346,000 after purchasing an additional 1,251 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in Noble Energy by 8.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,161,155 shares of the oil and gas development company’s stock valued at $26,010,000 after purchasing an additional 89,954 shares during the last quarter. Bank of Nova Scotia boosted its holdings in Noble Energy by 6.9% in the 2nd quarter. Bank of Nova Scotia now owns 98,715 shares of the oil and gas development company’s stock valued at $2,212,000 after purchasing an additional 6,411 shares during the last quarter. Finally, Profund Advisors LLC boosted its holdings in Noble Energy by 6.9% in the 2nd quarter. Profund Advisors LLC now owns 19,109 shares of the oil and gas development company’s stock valued at $428,000 after purchasing an additional 1,231 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

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

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