Credit Suisse Group set a $40.00 price objective on Noble Energy (NYSE:NBL) in a research report released on Friday morning. The brokerage currently has a buy rating on the oil and gas development company’s stock.

NBL has been the topic of a number of other research reports. Jefferies Group set a $38.00 price objective on shares of Noble Energy and gave the stock a buy rating in a report on Tuesday, January 30th. UBS started coverage on shares of Noble Energy in a report on Wednesday, March 7th. They issued a buy rating and a $40.00 price objective on the stock. Seaport Global Securities raised shares of Noble Energy from a neutral rating to a buy rating in a report on Tuesday, December 19th. Stifel Nicolaus set a $42.00 target price on shares of Noble Energy and gave the company a buy rating in a research note on Monday, December 18th. Finally, JPMorgan Chase cut shares of Noble Energy from an overweight rating to a neutral rating and set a $30.00 target price on the stock. in a research note on Friday, December 15th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-one have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $40.90.

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NBL stock opened at $32.00 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.27. Noble Energy has a fifty-two week low of $22.99 and a fifty-two week high of $35.51. The stock has a market capitalization of $15,799.36, a P/E ratio of 103.23 and a beta of 1.04.

Noble Energy (NYSE:NBL) last released its quarterly earnings data on Tuesday, February 20th. The oil and gas development company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.28. Noble Energy had a negative net margin of 26.27% and a positive return on equity of 1.46%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the company earned $0.26 EPS. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. research analysts forecast that Noble Energy will post 0.91 earnings per share for the current fiscal year.

Noble Energy declared that its Board of Directors has initiated a stock buyback program on Thursday, February 15th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the oil and gas development company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In other news, CFO Kenneth M. Fisher sold 7,621 shares of Noble Energy stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $28.80, for a total value of $219,484.80. Following the transaction, the chief financial officer now owns 197,144 shares of the company’s stock, valued at approximately $5,677,747.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James E. Craddock sold 8,500 shares of Noble Energy stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $31.35, for a total transaction of $266,475.00. Following the completion of the transaction, the director now directly owns 93,413 shares in the company, valued at approximately $2,928,497.55. The disclosure for this sale can be found here. Insiders own 1.96% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Shell Asset Management Co. grew its stake in shares of Noble Energy by 113.7% in the 4th quarter. Shell Asset Management Co. now owns 119,793 shares of the oil and gas development company’s stock worth $3,491,000 after purchasing an additional 63,737 shares during the last quarter. Amalgamated Bank grew its stake in shares of Noble Energy by 10.4% in the 4th quarter. Amalgamated Bank now owns 57,039 shares of the oil and gas development company’s stock worth $1,662,000 after purchasing an additional 5,384 shares during the last quarter. Hoylecohen LLC acquired a new position in shares of Noble Energy in the fourth quarter worth about $1,675,000. Greenwood Capital Associates LLC boosted its holdings in shares of Noble Energy by 49.7% in the fourth quarter. Greenwood Capital Associates LLC now owns 11,341 shares of the oil and gas development company’s stock worth $330,000 after buying an additional 3,766 shares during the period. Finally, Guggenheim Capital LLC boosted its holdings in shares of Noble Energy by 2.0% in the fourth quarter. Guggenheim Capital LLC now owns 1,478,202 shares of the oil and gas development company’s stock worth $43,074,000 after buying an additional 28,550 shares during the period. 95.65% of the stock is currently owned by institutional investors.

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Noble Energy Company Profile

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. It owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins. It principal projects are primarily located in the US unconventional basins and various global offshore conventional basins.

Analyst Recommendations for Noble Energy (NYSE:NBL)

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