Brokerages Set Noble Energy, Inc. (NBL) PT at $41.65
Shares of Noble Energy, Inc. (NYSE:NBL) have been assigned an average rating of “Buy” from the twenty-nine ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $41.65.
NBL has been the subject of a number of analyst reports. KLR Group reissued a “buy” rating and set a $61.00 target price on shares of Noble Energy in a research note on Monday, August 20th. Credit Suisse Group downgraded Noble Energy from an “outperform” rating to a “neutral” rating in a research note on Wednesday, May 30th. TD Securities initiated coverage on Noble Energy in a research note on Thursday, July 5th. They issued a “buy” rating and a $45.00 price objective for the company. Morgan Stanley initiated coverage on Noble Energy in a research note on Thursday, July 12th. They issued an “equal weight” rating and a $39.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Noble Energy in a research note on Friday, August 3rd.
Shares of NBL stock opened at $29.73 on Friday. The company has a market cap of $14.19 billion, a PE ratio of 95.90, a price-to-earnings-growth ratio of 2.91 and a beta of 1.02. Noble Energy has a 12-month low of $24.28 and a 12-month high of $37.76. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.58.
The business also recently announced a quarterly dividend, which was paid on Monday, August 20th. Shareholders of record on Monday, August 6th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Friday, August 3rd. Noble Energy’s dividend payout ratio (DPR) is presently 141.94%.
In other Noble Energy news, major shareholder Nbl Midstream, Llc sold 7,475,000 shares of the stock in a transaction on Friday, June 29th. The stock was sold at an average price of $18.03, for a total transaction of $134,774,250.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Gary W. Willingham sold 24,646 shares of the stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $37.50, for a total value of $924,225.00. Following the sale, the vice president now owns 194,640 shares in the company, valued at approximately $7,299,000. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its holdings in Noble Energy by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,265,004 shares of the oil and gas development company’s stock valued at $150,469,000 after buying an additional 93,686 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Noble Energy by 3.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 216,460 shares of the oil and gas development company’s stock valued at $7,637,000 after buying an additional 7,683 shares during the last quarter. Delphi Management Inc. MA grew its holdings in Noble Energy by 15.8% during the 2nd quarter. Delphi Management Inc. MA now owns 68,479 shares of the oil and gas development company’s stock valued at $2,471,000 after buying an additional 9,329 shares during the last quarter. Global X Management Co LLC grew its holdings in Noble Energy by 59.1% during the 2nd quarter. Global X Management Co LLC now owns 15,193 shares of the oil and gas development company’s stock valued at $536,000 after buying an additional 5,643 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in Noble Energy during the 2nd quarter valued at $241,000. Hedge funds and other institutional investors own 97.62% of the company’s stock.
About Noble Energy
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.
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