Noble Energy (NYSE:NBL) had its price objective dropped by Morgan Stanley from $38.00 to $37.00 in a report issued on Tuesday, MarketBeat.com reports. The firm currently has a “hold” rating on the oil and gas development company’s stock. Morgan Stanley’s price target points to a potential upside of 56.05% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. Piper Jaffray Companies reiterated an “overweight” rating on shares of Noble Energy in a report on Friday, September 28th. Oppenheimer initiated coverage on Noble Energy in a report on Wednesday, October 3rd. They issued a “market perform” rating and a $43.00 price objective for the company. TD Securities set a $43.00 price objective on Noble Energy and gave the stock a “buy” rating in a report on Sunday, August 5th. KLR Group reiterated a “buy” rating and issued a $61.00 price objective on shares of Noble Energy in a report on Monday, August 20th. Finally, Citigroup cut their price objective on Noble Energy from $44.00 to $42.00 and set a “buy” rating for the company in a report on Monday, August 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-one have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $41.76.

Shares of NYSE NBL opened at $23.71 on Tuesday. The stock has a market capitalization of $11.97 billion, a price-to-earnings ratio of 76.48, a price-to-earnings-growth ratio of 2.45 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81. Noble Energy has a twelve month low of $23.52 and a twelve month high of $37.76.

Noble Energy (NYSE:NBL) last posted its quarterly earnings data on Thursday, November 1st. The oil and gas development company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. Noble Energy had a return on equity of 4.82% and a net margin of 25.09%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the business earned ($0.02) EPS. The company’s revenue for the quarter was up 32.6% compared to the same quarter last year. Research analysts forecast that Noble Energy will post 1.02 EPS for the current fiscal year.

In other Noble Energy news, major shareholder Nbl Midstream, Llc sold 14,137,198 shares of the stock in a transaction that occurred on Wednesday, September 26th. The stock was sold at an average price of $17.75, for a total value of $250,935,264.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.96% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue lifted its holdings in Noble Energy by 4.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 112,759 shares of the oil and gas development company’s stock worth $3,515,000 after buying an additional 4,867 shares during the period. James Investment Research Inc. bought a new position in shares of Noble Energy in the 2nd quarter worth approximately $2,101,000. Putnam Investments LLC raised its position in shares of Noble Energy by 28.1% in the 2nd quarter. Putnam Investments LLC now owns 151,413 shares of the oil and gas development company’s stock worth $5,342,000 after acquiring an additional 33,248 shares in the last quarter. American Century Companies Inc. raised its position in shares of Noble Energy by 1.6% in the 2nd quarter. American Century Companies Inc. now owns 7,460,070 shares of the oil and gas development company’s stock worth $263,191,000 after acquiring an additional 119,166 shares in the last quarter. Finally, CIBC World Markets Inc. raised its position in shares of Noble Energy by 50.0% in the 2nd quarter. CIBC World Markets Inc. now owns 19,206 shares of the oil and gas development company’s stock worth $678,000 after acquiring an additional 6,404 shares in the last quarter. Institutional investors and hedge funds own 99.00% 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.

Further Reading: Trading Strategy

Analyst Recommendations for Noble Energy (NYSE:NBL)

Receive News & Ratings for Noble Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noble Energy and related companies with MarketBeat.com's FREE daily email newsletter.