Guggenheim Increases Noble Energy Price Target to $88.00 (NBL)
Stock analysts at Guggenheim upped their price objective on shares of Noble Energy (NYSE:NBL) from $80.00 to $88.00 in a report issued on Wednesday, Analyst Ratings Net reports. Guggenheim’s target price would indicate a potential upside of 18.44% from the stock’s previous close.
A number of other firms have also recently commented on NBL. Analysts at Global Hunter Securities downgraded shares of Noble Energy to a “neutral” rating in a research note on Monday. Separately, analysts at KLR Group downgraded shares of Noble Energy from a “buy” rating to an “accumulate” rating in a research note on Monday. Finally, analysts at Goldman Sachs reiterated a “neutral” rating on shares of Noble Energy in a research note on Monday, April 14th. They now have a $29.00 price target on the stock, down previously from $30.00. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $75.28.
Noble Energy (NYSE:NBL) traded up 0.40% during mid-day trading on Wednesday, hitting $74.60. 423,887 shares of the company’s stock traded hands. Noble Energy has a 52 week low of $55.06 and a 52 week high of $78.01. The stock has a 50-day moving average of $69.50 and a 200-day moving average of $68.92. The company has a market cap of $26.912 billion and a P/E ratio of 27.56.
Noble Energy (NYSE:NBL) last announced its earnings results on Thursday, February 6th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the 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. On average, analysts predict that Noble Energy will post $3.37 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, May 19th. Shareholders of record on Monday, May 5th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Thursday, May 1st. This is a positive change from Noble Energy’s previous quarterly dividend of $0.14.
Noble Energy, Inc (NYSE:NBL) is an independent energy company engaged in worldwide oil and gas exploration and production.
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