Noble Energy’s (NBL) “Buy” Rating Reaffirmed at Royal Bank Of Canada
Noble Energy Inc. (NYSE:NBL)‘s stock had its “buy” rating restated by Royal Bank Of Canada in a research note issued to investors on Thursday. They presently have a $38.00 price target on the oil and gas development company’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 32.27% from the company’s current price.
NBL has been the subject of a number of other reports. Scotiabank set a $38.00 target price on shares of Noble Energy and gave the company a “hold” rating in a research report on Monday, March 27th. BidaskClub raised shares of Noble Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Piper Jaffray Companies reissued an “overweight” rating and set a $47.00 target price on shares of Noble Energy in a research report on Monday, May 8th. Evercore ISI reissued an “outperform” rating and set a $40.00 target price on shares of Noble Energy in a research report on Tuesday, May 2nd. Finally, ValuEngine downgraded shares of Noble Energy from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Noble Energy presently has an average rating of “Buy” and a consensus target price of $42.31.
Shares of Noble Energy (NYSE:NBL) traded down 3.30% during midday trading on Thursday, reaching $28.73. 3,796,122 shares of the company traded hands. Noble Energy has a 12-month low of $26.56 and a 12-month high of $42.03. The company has a 50-day moving average of $28.53 and a 200 day moving average of $33.54. The firm’s market capitalization is $12.38 billion.
Noble Energy (NYSE:NBL) last released its earnings results on Monday, May 1st. The oil and gas development company reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.09. Noble Energy had a negative net margin of 17.75% and a negative return on equity of 0.44%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $974.54 million. During the same period in the prior year, the firm earned ($0.53) EPS. The company’s revenue was up 43.1% compared to the same quarter last year. On average, equities analysts forecast 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 acquired a new position in Noble Energy during the second quarter valued at approximately $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 acquired a new position in Noble Energy during the second quarter valued at approximately $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.
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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