Mizuho Upgrades Noble Energy to “Buy” (NBL)
Noble Energy (NYSE:NBL) was upgraded by stock analysts at Mizuho from a “neutral” rating to a “buy” rating in a report issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $78.00 price target on the stock, up from their previous price target of $75.00. Mizuho’s price target indicates a potential upside of 17.82% from the company’s current price.
Noble Energy (NYSE:NBL) opened at 66.20 on Friday. Noble Energy has a one year low of $52.62 and a one year high of $78.01. The stock’s 50-day moving average is $64.89 and its 200-day moving average is $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 announced its earnings results on Thursday, February 6th. The company reported $0.50 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $1.65 earnings per share. The company’s quarterly revenue 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. Shareholders 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 0.85%. The ex-dividend date of this dividend is Thursday, February 6th.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, analysts at Morgan Stanley downgraded shares of Noble Energy to an “equal weight” rating in a research note to investors on Tuesday, January 21st. Finally, analysts at ISI Group downgraded shares of Noble Energy to a “neutral” rating in a research note to investors on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $78.76.
In other Noble Energy news, VP Susan Cunningham sold 34,188 shares of Noble Energy stock in a transaction dated 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 sale, the vice president now directly owns 136,884 shares in the company, valued at approximately $8,649,700. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Noble Energy, Inc (NYSE:NBL) is an independent energy company engaged in worldwide oil and gas exploration and production.
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