Noble Energy Inc. (NYSE:NBL) Given a $37.00 Price Target by BMO Capital Markets Analysts
Noble Energy Inc. (NYSE:NBL) received a $37.00 price target from BMO Capital Markets in a report released on Thursday. The brokerage currently has a “buy” rating on the oil and gas development company’s stock. BMO Capital Markets’ target price suggests a potential upside of 42.75% from the company’s previous close.
NBL has been the topic of several other reports. BidaskClub raised Noble Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Cowen and Company set a $35.00 target price on Noble Energy and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $47.00 target price on shares of Noble Energy in a research report on Monday, May 8th. Evercore ISI reaffirmed an “outperform” rating and set a $40.00 target price on shares of Noble Energy in a research report on Tuesday, May 2nd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $50.00 target price on shares of Noble Energy in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $41.75.
Shares of Noble Energy (NYSE NBL) opened at 25.92 on Thursday. The firm’s 50-day moving average price is $28.51 and its 200 day moving average price is $32.95. Noble Energy has a one year low of $25.46 and a one year high of $42.03. The stock’s market cap is $11.17 billion. Noble Energy also saw some unusual options trading on Thursday. Stock traders bought 14,877 put options on the stock. This is an increase of 1,296% compared to the typical daily volume of 1,066 put options.
Noble Energy (NYSE:NBL) last released its quarterly earnings data on Thursday, August 3rd. The oil and gas development company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.18. Noble Energy had a negative return on equity of 0.44% and a negative net margin of 17.75%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company posted ($0.24) earnings per share. The firm’s revenue was up 25.0% compared to the same quarter last year. Equities research analysts expect that Noble Energy will post ($0.23) EPS for the current fiscal year.
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A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in Noble Energy by 2,679.8% in the first quarter. BlackRock Inc. now owns 30,020,041 shares of the oil and gas development company’s stock worth $1,030,889,000 after buying an additional 28,940,088 shares during the last quarter. Vanguard Group Inc. raised its stake in Noble Energy by 3.9% in the first quarter. Vanguard Group Inc. now owns 29,999,741 shares of the oil and gas development company’s stock worth $1,030,192,000 after buying an additional 1,117,646 shares during the last quarter. FMR LLC raised its stake in Noble Energy by 4.3% in the first quarter. FMR LLC now owns 8,709,858 shares of the oil and gas development company’s stock worth $299,097,000 after buying an additional 358,456 shares during the last quarter. Jennison Associates LLC raised its stake in Noble Energy by 1.8% in the first quarter. Jennison Associates LLC now owns 8,059,455 shares of the oil and gas development company’s stock worth $276,762,000 after buying an additional 142,417 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Noble Energy by 3.5% in the first quarter. American Century Companies Inc. now owns 7,189,889 shares of the oil and gas development company’s stock worth $246,901,000 after buying an additional 240,712 shares during the last quarter. Institutional investors own 96.85% of the company’s stock.
About Noble Energy
Noble Energy, Inc is an independent energy company. The Company is engaged in crude oil, natural gas and natural gas and natural gas liquids (NGLs) exploration, development, production and acquisition. The Company’s segments include: United States, including the onshore DJ Basin, Permian Basin, Eagle Ford Shale, Marcellus Shale and offshore deepwater Gulf of Mexico, as well as the consolidated accounts of Noble Midstream Partners LP (Noble Midstream Partners); Eastern Mediterranean, including offshore Israel and Cyprus; West Africa, including offshore Equatorial Guinea, Cameroon and Gabon, and Other International and Corporate, including new ventures, such as offshore the Falkland Islands, Suriname and Newfoundland.
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