Zacks Reaffirms Neutral Rating for Noble Energy (NBL)
Noble Energy (NYSE:NBL)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued on Thursday. They currently have a $74.00 target price on the stock. Zacks‘s target price would indicate a potential upside of 5.85% from the company’s current price.
Shares of Noble Energy (NYSE:NBL) traded up 0.09% on Thursday, hitting $69.97. 658,753 shares of the company’s stock traded hands. Noble Energy has a 1-year low of $60.14 and a 1-year high of $79.63. The stock’s 50-day moving average is $71.49 and its 200-day moving average is $70.8. The company has a market cap of $25.259 billion and a P/E ratio of 34.90.
Noble Energy (NYSE:NBL) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.10. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. Analysts expect that Noble Energy will post $3.08 EPS for the current fiscal year.
A number of other firms have also recently commented on NBL. Analysts at Deutsche Bank downgraded shares of Noble Energy to a “hold” rating in a research note on Tuesday, August 5th. Separately, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Noble Energy in a research note on Tuesday, July 29th. They now have a $84.00 price target on the stock, down previously from $92.00. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Noble Energy in a research note on Monday, July 28th. They now have a $92.00 price target on the stock, down previously from $94.00. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Noble Energy presently has a consensus rating of “Buy” and a consensus price target of $76.75.
Noble Energy, Inc (NYSE:NBL) is an independent energy company engaged in worldwide oil and gas exploration and production.
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