Noble Energy Inc. (NYSE:NBL) Receives Consensus Rating of “Buy” from Analysts
Noble Energy Inc. (NYSE:NBL) has been given an average recommendation of “Buy” by the thirty-two analysts that are currently covering the firm. Three research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and twenty-two have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $41.18.
Several equities analysts recently issued reports on the stock. Deutsche Bank AG reissued a “buy” rating on shares of Noble Energy in a research note on Sunday, July 10th. Barclays PLC reissued a “buy” rating on shares of Noble Energy in a research note on Sunday, July 17th. Stifel Nicolaus upped their price objective on shares of Noble Energy from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, June 8th. Credit Agricole SA assumed coverage on shares of Noble Energy in a research note on Wednesday, June 22nd. They set an “outperform” rating on the stock. Finally, Wunderlich upped their price objective on shares of Noble Energy from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 6th.
Noble Energy (NYSE:NBL) traded up 2.15% during trading on Wednesday, hitting $33.81. 1,563,314 shares of the company’s stock traded hands. The stock’s market cap is $14.54 billion. The firm’s 50-day moving average price is $34.89 and its 200 day moving average price is $34.83. Noble Energy has a 12-month low of $23.77 and a 12-month high of $39.85.
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Noble Energy (NYSE:NBL) last announced its quarterly earnings data on Wednesday, August 3rd. The oil and gas development company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.05. The business had revenue of $847 million for the quarter, compared to the consensus estimate of $909.36 million. Noble Energy had a negative net margin of 90.52% and a negative return on equity of 2.16%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 earnings per share. Analysts anticipate that Noble Energy will post ($1.09) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 22nd. Investors of record on Monday, August 8th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $0.40 annualized dividend and a yield of 1.21%. Noble Energy’s dividend payout ratio is presently -5.88%.
In related news, Director Thomas J. Edelman sold 12,000 shares of Noble Energy stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $35.09, for a total value of $421,080.00. Following the sale, the director now directly owns 3,032,978 shares in the company, valued at approximately $106,427,198.02. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jeffrey L. Berenson sold 10,000 shares of Noble Energy stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $34.05, for a total transaction of $340,500.00. Following the completion of the sale, the director now owns 82,269 shares in the company, valued at $2,801,259.45. The disclosure for this sale can be found here. 2.17% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of NBL. Macquarie Group Ltd. increased its stake in shares of Noble Energy by 1,369.6% in the second quarter. Macquarie Group Ltd. now owns 214,560 shares of the oil and gas development company’s stock valued at $7,696,000 after buying an additional 199,960 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Noble Energy during the second quarter valued at $621,000. Kentucky Retirement Systems purchased a new stake in shares of Noble Energy during the second quarter valued at $1,307,000. Mason Street Advisors LLC purchased a new stake in shares of Noble Energy during the second quarter valued at $2,071,000. Finally, CI Investments Inc. increased its stake in shares of Noble Energy by 5.5% in the second quarter. CI Investments Inc. now owns 590,400 shares of the oil and gas development company’s stock valued at $21,178,000 after buying an additional 30,600 shares in the last quarter. Hedge funds and other institutional investors own 93.83% of the company’s stock.
Noble Energy Company Profile
Noble Energy, Inc is an independent energy company engaged in crude oil, natural gas and natural gas liquids (NGLs) exploration and production. The Company’s portfolio is diversified between short-term and long-term projects, domestic and international and a balanced production mix among crude oil, natural gas and NGLs.
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