KLR Group reiterated their buy rating on shares of Noble Energy (NYSE:NBL) in a report released on Monday morning. The brokerage currently has a $61.00 price objective on the oil and gas development company’s stock.
Several other research firms also recently weighed in on NBL. Bank of America began coverage on Noble Energy in a report on Tuesday, July 10th. They issued a buy rating and a $59.00 price objective for the company. SunTrust Banks began coverage on Noble Energy in a report on Friday, May 18th. They issued a buy rating and a $42.00 price objective for the company. ValuEngine raised Noble Energy from a sell rating to a hold rating in a report on Thursday, May 17th. Credit Suisse Group increased their price objective on Noble Energy from $40.00 to $44.00 and gave the company a buy rating in a report on Sunday, May 20th. Finally, Morgan Stanley began coverage on Noble Energy in a report on Thursday, July 12th. They issued an equal weight rating and a $39.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company has a consensus rating of Buy and an average price target of $41.62.
NBL stock opened at $28.81 on Monday. The company has a market capitalization of $13.90 billion, a PE ratio of 41.10, a PEG ratio of 2.85 and a beta of 1.07. Noble Energy has a twelve month low of $22.99 and a twelve month high of $37.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.76 and a quick ratio of 0.76.
Noble Energy (NYSE:NBL) last posted its quarterly earnings data on Friday, August 3rd. The oil and gas development company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.05). The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.15 billion. Noble Energy had a net margin of 19.01% and a return on equity of 2.89%. Noble Energy’s revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.05 earnings per share. sell-side analysts predict that Noble Energy will post 1.01 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 20th. Stockholders of record on Monday, August 6th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Friday, August 3rd. Noble Energy’s dividend payout ratio (DPR) is presently 141.94%.
In other news, major shareholder Nbl Midstream, Llc sold 7,475,000 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gary W. Willingham sold 24,646 shares of the company’s stock in a transaction that occurred on Tuesday, July 10th. The stock was 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 of the company’s stock, valued at approximately $7,299,000. The disclosure for this sale can be found here. 1.96% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in NBL. Point72 Asia Hong Kong Ltd raised its position in Noble Energy by 656.0% in the first quarter. Point72 Asia Hong Kong Ltd now owns 3,833 shares of the oil and gas development company’s stock worth $116,000 after acquiring an additional 3,326 shares in the last quarter. Advisors Preferred LLC purchased a new position in Noble Energy in the second quarter worth $126,000. Whittier Trust Co. purchased a new position in Noble Energy in the second quarter worth $163,000. Piedmont Investment Advisors LLC purchased a new position in Noble Energy in the second quarter worth $200,000. Finally, Ingalls & Snyder LLC purchased a new position in Noble Energy in the second quarter worth $202,000. Hedge funds and other institutional investors own 98.46% of the company’s stock.
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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