UBS AG Lowers Noble Energy Price Target to $76.00 (NBL)
Research analysts at UBS AG reduced their target price on shares of Noble Energy (NYSE:NBL) from $80.00 to $76.00 in a report released on Friday, ARN reports. The firm currently has a “buy” rating on the stock. UBS AG’s price target points to a potential upside of 21.39% from the company’s current price.
In other Noble Energy news, VP Susan Cunningham sold 34,188 shares of Noble Energy stock on the open market in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $63.19, for a total transaction of $2,160,339.72. Following the transaction, the vice president now directly owns 136,884 shares in the company, valued at approximately $8,649,700. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of other analysts have also recently weighed in on NBL. Analysts at Wunderlich raised their price target on shares of Noble Energy from $84.00 to $88.00 in a research note to investors on Friday. Separately, analysts at Mizuho upgraded shares of Noble Energy from a “neutral” rating to a “buy” rating in a research note to investors on Friday. They now have a $78.00 price target on the stock, up previously from $75.00. Finally, analysts at Cowen and Company initiated coverage on shares of Noble Energy in a research note to investors on Monday, January 27th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Noble Energy currently has an average rating of “Buy” and a consensus target price of $78.76.
Shares of Noble Energy (NYSE:NBL) traded up 5.73% during mid-day trading on Friday, hitting $66.20. The stock had a trading volume of 6,021,281 shares. Noble Energy has a 52 week low of $52.62 and a 52 week high of $78.01. The stock has a 50-day moving average of $64.94 and a 200-day moving average of $67.24. The company has a market cap of $23.766 billion and a P/E ratio of 20.59.
Noble Energy (NYSE:NBL) last released its earnings data on Thursday, February 6th. The company reported $0.50 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.92 by $0.42. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. Analysts expect that Noble Energy will post $3.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, February 24th. Investors of record on Monday, February 10th will be given a dividend of 0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, February 6th.
Noble Energy, Inc (NYSE:NBL) is an independent energy company engaged in worldwide oil and gas exploration and production.
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