Cowen and Company Analysts Give Noble Energy Inc. (NYSE:NBL) a $35.00 Price Target
Noble Energy Inc. (NYSE:NBL) has been given a $35.00 price objective by Cowen and Company in a report released on Tuesday. The brokerage currently has a “buy” rating on the oil and gas development company’s stock. Cowen and Company’s price objective would suggest a potential upside of 17.81% from the stock’s current price.
A number of other research firms have also recently commented on NBL. Seaport Global Securities cut Noble Energy from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $36.00 to $23.00 in a research report on Wednesday, June 21st. Jefferies Group LLC set a $40.00 price objective on Noble Energy and gave the stock a “buy” rating in a research report on Wednesday, May 17th. Evercore ISI reiterated an “outperform” rating and set a $40.00 price objective on shares of Noble Energy in a research report on Tuesday, May 2nd. BidaskClub cut Noble Energy from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Finally, Tudor Pickering upgraded Noble Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, June 6th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $42.79.
Shares of Noble Energy (NYSE NBL) traded up 4.80% on Tuesday, hitting $29.71. 4,608,669 shares of the stock traded hands. The firm’s 50 day moving average is $28.53 and its 200-day moving average is $33.54. Noble Energy has a 12 month low of $26.56 and a 12 month high of $42.03. The company’s market cap is $12.81 billion.
Noble Energy (NYSE:NBL) last posted its quarterly earnings data on Monday, May 1st. The oil and gas development company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $974.54 million. Noble Energy had a negative return on equity of 0.44% and a negative net margin of 17.75%. The firm’s quarterly revenue was up 43.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.53) EPS. Equities analysts predict that Noble Energy will post ($0.15) earnings per share for the current year.
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Institutional investors have recently added to or reduced their stakes in the stock. State Treasurer State of Michigan raised its position in Noble Energy by 4.5% in the second quarter. State Treasurer State of Michigan now owns 149,561 shares of the oil and gas development company’s stock valued at $4,233,000 after buying an additional 6,500 shares in the last quarter. Bedrijfstakpensioenfonds Voor DE Media PNO purchased a new position in Noble Energy during the second quarter valued at $1,127,000. Aperio Group LLC raised its position in Noble Energy by 12.6% in the second quarter. Aperio Group LLC now owns 169,985 shares of the oil and gas development company’s stock valued at $4,811,000 after buying an additional 19,013 shares in the last quarter. Sippican Capital Advisors purchased a new position in Noble Energy during the second quarter valued at $2,344,000. Finally, Louisiana State Employees Retirement System raised its position in Noble Energy by 5.2% in the second quarter. Louisiana State Employees Retirement System now owns 28,200 shares of the oil and gas development company’s stock valued at $798,000 after buying an additional 1,400 shares in the last quarter. 96.84% of the stock is currently owned by institutional investors and hedge funds.
Noble Energy Company Profile
Noble Energy, Inc is an independent energy company. The Company is engaged in crude oil, natural gas and natural gas and natural gas liquids (NGLs) exploration, development, production and acquisition. The Company’s segments include: United States, including the onshore DJ Basin, Permian Basin, Eagle Ford Shale, Marcellus Shale and offshore deepwater Gulf of Mexico, as well as the consolidated accounts of Noble Midstream Partners LP (Noble Midstream Partners); Eastern Mediterranean, including offshore Israel and Cyprus; West Africa, including offshore Equatorial Guinea, Cameroon and Gabon, and Other International and Corporate, including new ventures, such as offshore the Falkland Islands, Suriname and Newfoundland.
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