Noble Energy (NBL) Cut to Neutral at J P Morgan Chase & Co
Noble Energy (NYSE:NBL) was downgraded by analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. They presently have a $30.00 price objective on the oil and gas development company’s stock. J P Morgan Chase & Co’s price target suggests a potential upside of 16.91% from the company’s previous close.
NBL has been the subject of several other research reports. Barclays lowered their price target on Noble Energy from $33.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, November 16th. Jefferies Group cut Noble Energy from a “buy” rating to a “hold” rating and set a $29.00 price target for the company. in a research note on Monday, October 9th. BMO Capital Markets set a $33.00 price target on Noble Energy and gave the company a “buy” rating in a research note on Tuesday, October 10th. Piper Jaffray Companies reissued a “buy” rating on shares of Noble Energy in a research note on Sunday, August 20th. Finally, Royal Bank of Canada set a $37.00 price target on Noble Energy and gave the company a “buy” rating in a research note on Sunday, October 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $39.45.
Shares of Noble Energy (NBL) traded down $0.80 on Friday, hitting $25.66. The stock had a trading volume of 6,950,209 shares, compared to its average volume of 5,140,672. The firm has a market cap of $12,987.55, a P/E ratio of 111.21 and a beta of 1.16. Noble Energy has a one year low of $22.99 and a one year high of $41.47. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.75.
Noble Energy (NYSE:NBL) last issued its earnings results on Monday, October 30th. The oil and gas development company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.11. The company had revenue of $960.00 million for the quarter, compared to the consensus estimate of $961.61 million. Noble Energy had a positive return on equity of 1.06% and a negative net margin of 45.85%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.07) EPS. equities analysts predict that Noble Energy will post -0.05 earnings per share for the current year.
In other news, Director Thomas J. Edelman sold 200,000 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $26.99, for a total value of $5,398,000.00. Following the completion of the sale, the director now directly owns 2,952,878 shares of the company’s stock, valued at $79,698,177.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James E. Craddock sold 18,787 shares of the 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 sale, the director now directly owns 114,226 shares of the company’s stock, valued at $3,263,436.82. The disclosure for this sale can be found here. Insiders have sold 518,787 shares of company stock valued at $14,283,745 in the last ninety days. Company insiders own 2.28% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. California Public Employees Retirement System boosted its position in shares of Noble Energy by 2.7% in the third quarter. California Public Employees Retirement System now owns 872,389 shares of the oil and gas development company’s stock valued at $24,741,000 after acquiring an additional 22,605 shares during the period. Janus Henderson Group PLC boosted its position in shares of Noble Energy by 29.1% in the third quarter. Janus Henderson Group PLC now owns 2,399,484 shares of the oil and gas development company’s stock valued at $68,049,000 after acquiring an additional 540,221 shares during the period. Jane Street Group LLC bought a new stake in shares of Noble Energy in the third quarter valued at approximately $2,500,000. Vident Investment Advisory LLC bought a new stake in shares of Noble Energy in the third quarter valued at approximately $361,000. Finally, Chevy Chase Trust Holdings Inc. boosted its position in shares of Noble Energy by 8.1% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 427,585 shares of the oil and gas development company’s stock valued at $12,126,000 after acquiring an additional 32,208 shares during the period. 94.32% of the stock is 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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