Noble Energy Inc. (NBL) Stock Price Down 0.8%
Noble Energy Inc. (NYSE:NBL) dropped 0.8% on Friday . The company traded as low as $35.51 and last traded at $35.85, with a volume of 1,346,999 shares changing hands. The stock had previously closed at $36.13.
NBL has been the topic of a number of research analyst reports. Credit Suisse Group AG restated a “buy” rating on shares of Noble Energy in a research note on Thursday, June 2nd. Nomura Holdings Inc. restated a “buy” rating and issued a $41.00 price target (up previously from $36.00) on shares of Noble Energy in a research note on Tuesday, May 24th. Deutsche Bank AG restated a “buy” rating on shares of Noble Energy in a research note on Saturday, March 12th. Bank of America Corp. reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Noble Energy in a report on Wednesday, May 4th. Finally, Mitsubishi UFJ Financial Group raised Noble Energy from an “underweight” rating to an “overweight” rating in a report on Thursday, May 5th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. Noble Energy currently has a consensus rating of “Buy” and a consensus price target of $42.26.
The stock has a 50-day moving average price of $36.09 and a 200 day moving average price of $33.04. The company’s market capitalization is $15.44 billion.
Noble Energy (NYSE:NBL) last released its quarterly earnings data on Wednesday, May 4th. The oil and gas development company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.04. During the same quarter in the previous year, the firm posted $0.03 earnings per share. The company had revenue of $724 million for the quarter, compared to the consensus estimate of $800.78 million. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. Analysts predict that Noble Energy Inc. will post ($1.15) EPS for the current fiscal year.
In related news, Director Thomas J. Edelman sold 12,000 shares of the business’s stock in a transaction dated Friday, June 24th. The stock was sold at an average price of $35.09, for a total transaction of $421,080.00. Following the completion of the transaction, the director now directly owns 3,032,978 shares in the company, valued at $106,427,198.02. The transaction was disclosed in a document filed with the SEC, which is available through this link.
A number of institutional investors have bought and sold shares of the company. Quantitative Investment Management LLC boosted its position in Noble Energy by 60.8% in the fourth quarter. Quantitative Investment Management LLC now owns 31,200 shares of the oil and gas development company’s stock valued at $1,027,000 after buying an additional 11,800 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in Noble Energy by 87.2% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 31,486 shares of the oil and gas development company’s stock valued at $1,037,000 after buying an additional 14,668 shares during the last quarter. Advantus Capital Management Inc boosted its position in Noble Energy by 2.4% in the fourth quarter. Advantus Capital Management Inc now owns 40,695 shares of the oil and gas development company’s stock valued at $1,340,000 after buying an additional 956 shares during the last quarter. Sawtooth Asset Management Inc. acquired a new position in Noble Energy during the fourth quarter valued at approximately $1,375,000. Finally, Janus Capital Management boosted its position in Noble Energy by 226.5% in the third quarter. Janus Capital Management now owns 59,918 shares of the oil and gas development company’s stock valued at $1,808,000 after buying an additional 41,567 shares during the last quarter.
Noble Energy, Inc is an independent energy company engaged in crude oil, natural gas and natural gas liquids (NGLs) exploration and production. The Company’s portfolio is diversified between short-term and long-term projects, domestic and international and a balanced production mix among crude oil, natural gas and NGLs.
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