Tudor Pickering lowered shares of Noble Energy (NYSE:NBL) from a buy rating to a hold rating in a research note released on Friday, June 8th, MarketBeat Ratings reports.
Several other analysts have also recently issued reports on the stock. Bank of America upped their price objective on shares of Noble Energy from $52.00 to $57.00 and gave the company a buy rating in a research note on Monday, February 26th. KLR Group upped their price objective on shares of Noble Energy from $9.00 to $65.00 and gave the company a buy rating in a research note on Wednesday, February 21st. BMO Capital Markets reaffirmed a buy rating and set a $40.00 price objective on shares of Noble Energy in a research note on Wednesday, April 11th. Imperial Capital reaffirmed an outperform rating and set a $52.00 price objective (up previously from $44.00) on shares of Noble Energy in a research note on Wednesday, February 21st. Finally, Jefferies Financial Group reaffirmed a buy rating and set a $41.00 price objective on shares of Noble Energy in a research note on Friday, February 23rd. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Noble Energy presently has a consensus rating of Buy and a consensus price target of $40.30.
Noble Energy opened at $36.08 on Friday, according to MarketBeat Ratings. Noble Energy has a twelve month low of $22.99 and a twelve month high of $37.67. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market cap of $16.94 billion, a P/E ratio of 49.94, a P/E/G ratio of 3.07 and a beta of 1.04.
Noble Energy (NYSE:NBL) last released its quarterly earnings results on Tuesday, May 1st. The oil and gas development company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.07. Noble Energy had a negative net margin of 13.32% and a positive return on equity of 3.25%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the firm earned ($0.05) EPS. The company’s revenue for the quarter was up 24.1% on a year-over-year basis. sell-side analysts expect that Noble Energy will post 1.14 earnings per share for the current fiscal year.
In related news, VP J. Keith Elliott sold 6,000 shares of the stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $33.27, for a total transaction of $199,620.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Andrea Lee Robison sold 8,760 shares of the stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $35.00, for a total transaction of $306,600.00. Following the transaction, the vice president now directly owns 100,918 shares of the company’s stock, valued at approximately $3,532,130. The disclosure for this sale can be found here. Insiders have sold a total of 23,520 shares of company stock valued at $830,340 in the last ninety days. 1.96% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of NBL. Artisan Partners Limited Partnership boosted its position in shares of Noble Energy by 95.1% during the 1st quarter. Artisan Partners Limited Partnership now owns 15,854,643 shares of the oil and gas development company’s stock worth $480,396,000 after purchasing an additional 7,730,137 shares during the period. Ceredex Value Advisors LLC acquired a new stake in Noble Energy during the 1st quarter worth approximately $65,880,000. Millennium Management LLC acquired a new stake in Noble Energy during the 1st quarter worth approximately $46,186,000. Amundi Pioneer Asset Management Inc. acquired a new stake in Noble Energy during the 4th quarter worth approximately $29,414,000. Finally, Sei Investments Co. lifted its holdings in Noble Energy by 53.7% during the 1st quarter. Sei Investments Co. now owns 2,544,673 shares of the oil and gas development company’s stock worth $77,103,000 after buying an additional 888,576 shares in the last quarter. 98.46% of the stock is owned by hedge funds and other institutional investors.
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.
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