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Noble Energy (NYSE:NBL) was upgraded by equities research analysts at Howard Weil from an “outperform” rating to a “focus stock” rating in a research note issued to investors on Wednesday, reports. The firm currently has a $85.00 price objective on the stock. Howard Weil’s price target would indicate a potential upside of 29.08% from the stock’s previous close.

Shares of Noble Energy (NYSE:NBL) traded up 0.58% during mid-day trading on Wednesday, hitting $66.23. The stock had a trading volume of 431,128 shares. Noble Energy has a one year low of $51.645 and a one year high of $78.01. The stock has a 50-day moving average of $69.16 and a 200-day moving average of $67.13. The company has a market cap of $23.777 billion and a P/E ratio of 21.65.

Noble Energy (NYSE:NBL) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.02. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the company posted $0.93 earnings per share. Noble Energy’s revenue was up 38.7% compared to the same quarter last year. Analysts expect that Noble Energy will post $3.10 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks downgraded shares of Noble Energy from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday, December 31st. They now have a $62.00 price target on the stock. Separately, analysts at FBR Capital Markets reiterated a “top pick” rating on shares of Noble Energy in a research note to investors on Monday, December 23rd. Finally, analysts at Mizuho cut their price target on shares of Noble Energy from $80.00 to $75.00 in a research note to investors on Wednesday, December 18th. They now have a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $76.17.

Noble Energy, Inc (NYSE:NBL) is an independent energy company engaged in worldwide oil and gas exploration and production.

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