Cowen Analysts Give Noble Energy (NBL) a $40.00 Price Target
Noble Energy (NYSE:NBL) has been given a $40.00 price target by stock analysts at Cowen in a note issued to investors on Sunday. The brokerage presently has a “buy” rating on the oil and gas development company’s stock. Cowen’s price objective suggests a potential upside of 48.48% from the company’s current price.
Several other research firms have also issued reports on NBL. Stifel Nicolaus set a $39.00 target price on Noble Energy and gave the stock a “buy” rating in a report on Thursday, October 5th. Mizuho reiterated a “buy” rating on shares of Noble Energy in a report on Friday, September 29th. Imperial Capital assumed coverage on Noble Energy in a report on Thursday, September 28th. They set an “outperform” rating and a $40.00 target price on the stock. Jefferies Group lowered Noble Energy from a “buy” rating to a “hold” rating and set a $29.00 target price on the stock. in a report on Monday, October 9th. Finally, Morgan Stanley upped their target price on Noble Energy from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $40.68.
Shares of Noble Energy (NBL) traded up $1.04 during trading on Friday, hitting $26.94. The stock had a trading volume of 6,705,000 shares, compared to its average volume of 5,141,000. The company has a market capitalization of $13,120.00, a price-to-earnings ratio of 112.25 and a beta of 1.16. Noble Energy has a 12 month low of $22.99 and a 12 month high of $42.03. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.75.
In other news, VP Gary W. Willingham bought 30,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were bought at an average price of $26.00 per share, with a total value of $780,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James E. Craddock sold 18,787 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $28.57, for a total value of $536,744.59. Following the completion of the transaction, the director now directly owns 114,226 shares in the company, valued at approximately $3,263,436.82. The disclosure for this sale can be found here. 2.28% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of NBL. NGAM Advisors L.P. grew its position in shares of Noble Energy by 204.8% in the second quarter. NGAM Advisors L.P. now owns 51,755 shares of the oil and gas development company’s stock valued at $1,465,000 after purchasing an additional 34,774 shares during the last quarter. Korea Investment CORP grew its position in shares of Noble Energy by 2.4% in the second quarter. Korea Investment CORP now owns 114,902 shares of the oil and gas development company’s stock valued at $3,252,000 after purchasing an additional 2,654 shares during the last quarter. Retirement Systems of Alabama grew its position in shares of Noble Energy by 4.8% in the second quarter. Retirement Systems of Alabama now owns 220,701 shares of the oil and gas development company’s stock valued at $6,246,000 after purchasing an additional 10,198 shares during the last quarter. Beach Investment Management LLC. acquired a new position in shares of Noble Energy in the second quarter valued at approximately $1,453,000. Finally, Pictet Asset Management Ltd. grew its position in shares of Noble Energy by 4.8% in the second quarter. Pictet Asset Management Ltd. now owns 252,839 shares of the oil and gas development company’s stock valued at $7,254,000 after purchasing an additional 11,500 shares during the last quarter. 94.32% 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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