Noble Energy Inc. (NBL) Rating Reiterated by Credit Suisse Group
Noble Energy Inc. (NYSE:NBL)‘s stock had its “buy” rating reiterated by equities research analysts at Credit Suisse Group in a report released on Wednesday. They presently have a $46.00 price target on the oil and gas development company’s stock. Credit Suisse Group’s price target would suggest a potential upside of 23.62% from the stock’s previous close.
Several other brokerages also recently commented on NBL. Jefferies Group LLC reiterated a “buy” rating and set a $45.00 target price on shares of Noble Energy in a research note on Wednesday, October 19th. Nomura reiterated a “buy” rating and set a $41.00 target price on shares of Noble Energy in a research note on Monday, November 7th. Seaport Global Securities downgraded Noble Energy from a “buy” rating to a “neutral” rating and cut their target price for the company from $45.00 to $38.00 in a research note on Thursday, November 17th. Bank of America Corporation reiterated a “hold” rating on shares of Noble Energy in a research note on Thursday, November 17th. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of Noble Energy in a research note on Tuesday, November 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $43.69.
Noble Energy (NYSE:NBL) opened at 37.21 on Wednesday. The stock’s market capitalization is $16.00 billion. Noble Energy has a 52-week low of $27.85 and a 52-week high of $42.03. The company has a 50 day moving average of $38.82 and a 200-day moving average of $36.81.
Noble Energy (NYSE:NBL) last posted its quarterly earnings results on Monday, February 13th. The oil and gas development company reported $0.26 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.36. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. Noble Energy had a negative return on equity of 2.51% and a negative net margin of 28.59%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.44 EPS. Equities research analysts anticipate that Noble Energy will post ($0.29) EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 21st. Investors of record on Monday, February 6th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, February 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 1.07%. Noble Energy’s dividend payout ratio is currently -17.24%.
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In related news, VP Arnold J. Johnson sold 24,505 shares of the firm’s stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $42.00, for a total value of $1,029,210.00. Following the transaction, the vice president now directly owns 159,764 shares of the company’s stock, valued at approximately $6,710,088. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Edward F. Cox sold 10,000 shares of the firm’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $37.76, for a total value of $377,600.00. Following the completion of the transaction, the director now directly owns 45,062 shares in the company, valued at $1,701,541.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 249,593 shares of company stock worth $10,020,282. 2.17% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. Seven Eight Capital LP acquired a new stake in Noble Energy during the fourth quarter worth approximately $156,000. Boothbay Fund Management LLC acquired a new stake in Noble Energy during the fourth quarter worth approximately $204,000. IFM Investors Pty Ltd acquired a new stake in Noble Energy during the fourth quarter worth approximately $205,000. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Noble Energy during the fourth quarter worth approximately $212,000. Finally, Penobscot Investment Management Company Inc. acquired a new stake in Noble Energy during the second quarter worth approximately $201,000. 93.79% of the stock is currently owned by institutional investors and hedge funds.
Noble Energy Company Profile
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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