Noble Energy Inc. (NBL) Upgraded to “Neutral” by Seaport Global Securities
Noble Energy Inc. (NYSE:NBL) was upgraded by analysts at Seaport Global Securities from a “sell” rating to a “neutral” rating in a report issued on Friday. The brokerage presently has a $26.00 price objective on the oil and gas development company’s stock. Seaport Global Securities’ price objective suggests a potential upside of 4.33% from the company’s current price.
Several other equities analysts also recently commented on the company. Barclays PLC upped their price objective on Noble Energy from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday. BMO Capital Markets set a $37.00 target price on Noble Energy and gave the stock a “buy” rating in a report on Thursday, August 3rd. Scotiabank set a $38.00 target price on Noble Energy and gave the stock a “hold” rating in a report on Thursday, August 3rd. Citigroup Inc. lowered their target price on Noble Energy from $45.00 to $38.00 and set a “buy” rating for the company in a report on Friday, July 21st. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $38.00 target price on shares of Noble Energy in a report on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $41.48.
Shares of Noble Energy (NYSE:NBL) traded up 0.20% during mid-day trading on Friday, reaching $24.97. The company had a trading volume of 462,727 shares. Noble Energy has a 1-year low of $24.84 and a 1-year high of $42.03. The stock’s market capitalization is $11.79 billion. The firm has a 50-day moving average price of $27.83 and a 200-day moving average price of $32.39.
Noble Energy (NYSE:NBL) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas development company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.18. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. Noble Energy had a positive return on equity of 0.86% and a negative net margin of 46.63%. Noble Energy’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.24) EPS. Equities analysts expect that Noble Energy will post ($0.14) earnings per share for the current year.
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A number of large investors have recently added to or reduced their stakes in the stock. Shell Asset Management Co. boosted its stake in Noble Energy by 4.4% in the second quarter. Shell Asset Management Co. now owns 108,468 shares of the oil and gas development company’s stock worth $3,070,000 after buying an additional 4,528 shares during the period. Cambiar Investors LLC boosted its stake in Noble Energy by 2.8% in the first quarter. Cambiar Investors LLC now owns 1,209,445 shares of the oil and gas development company’s stock worth $41,532,000 after buying an additional 32,437 shares during the period. Morgan Stanley boosted its stake in Noble Energy by 12.5% in the first quarter. Morgan Stanley now owns 2,704,117 shares of the oil and gas development company’s stock worth $92,859,000 after buying an additional 301,069 shares during the period. Bridgewater Associates LP boosted its stake in Noble Energy by 1.3% in the first quarter. Bridgewater Associates LP now owns 107,164 shares of the oil and gas development company’s stock worth $3,680,000 after buying an additional 1,402 shares during the period. Finally, Retirement Systems of Alabama boosted its stake in Noble Energy by 3.6% in the first quarter. Retirement Systems of Alabama now owns 210,503 shares of the oil and gas development company’s stock worth $7,229,000 after buying an additional 7,317 shares during the period. Institutional investors own 96.94% 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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