Noble Energy Downgraded to “Neutral” at Bank of America Corp. (NBL)
Noble Energy (NYSE:NBL) was downgraded by stock analysts at Bank of America Corp. from a “buy” rating to a “neutral” rating in a report issued on Monday, Analyst Ratings Network.com reports. They currently have a $71.00 price target on the stock. Bank of America Corp.’s price objective indicates a potential upside of 11.93% from the stock’s previous close. The analysts noted that the move was a valuation call.
Noble Energy (NYSE: NBL) traded down 2.10% on Monday, hitting $62.10. Noble Energy has a 52-week low of $42.60 and a 52-week high of $66.30. The stock’s 50-day moving average is currently $61.64. The company has a market cap of $22.294 billion and a price-to-earnings ratio of 20.49.
Noble Energy (NYSE:NBL) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.69 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.74 by $0.05. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The company’s quarterly revenue was up 18.9% on a year-over-year basis. On average, analysts predict that Noble Energy will post $3.49 earnings per share for the current fiscal year.
A number of other firms have also recently commented on NBL. Analysts at Guggenheim raised their price target on shares of Noble Energy from $72.00 to $75.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Johnson Rice downgraded shares of Noble Energy from a “focus list” rating to an “overweight” rating in a research note to investors on Friday. Finally, analysts at Wunderlich raised their price target on shares of Noble Energy from $70.00 to $72.00 in a research note to investors on Wednesday, July 24th. They now have a “buy” rating on the stock.
One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $91.73.
The company also recently announced a quarterly dividend, which is scheduled for Monday, August 19th. Investors of record on Monday, August 5th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Thursday, August 1st.
Noble Energy, Inc (NYSE: NBL) is an independent energy company engaged in worldwide oil and gas exploration and production.
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