Analysts at Credit Suisse Group began coverage on shares of Noble Energy (NYSE:NBL) in a research report issued on Monday, December 11th, Marketbeat.com reports. The brokerage set an “outperform” rating and a $35.00 price target on the oil and gas development company’s stock. Credit Suisse Group’s target price suggests a potential upside of 21.57% from the company’s current price.
Other equities analysts have also issued reports about the stock. Stifel Nicolaus set a $41.00 price objective on shares of Noble Energy and gave the company a “buy” rating in a research report on Tuesday, November 28th. Cowen set a $40.00 price objective on shares of Noble Energy and gave the stock a “buy” rating in a research note on Sunday, December 10th. Piper Jaffray Companies reiterated a “buy” rating and set a $35.00 price objective on shares of Noble Energy in a research note on Friday, November 17th. Imperial Capital started coverage on shares of Noble Energy in a research note on Thursday, September 28th. They set an “outperform” rating and a $40.00 price objective on the stock. Finally, Scotiabank set a $35.00 price objective on shares of Noble Energy and gave the stock a “hold” rating in a research note on Saturday, November 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Noble Energy presently has a consensus rating of “Buy” and a consensus target price of $39.60.
Noble Energy (NYSE NBL) traded up $0.09 during midday trading on Monday, reaching $28.79. 3,960,354 shares of the company’s stock traded hands, compared to its average volume of 4,640,000. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.95 and a quick ratio of 0.95. Noble Energy has a 1 year low of $22.99 and a 1 year high of $40.89. The company has a market capitalization of $14,050.00, a price-to-earnings ratio of -7.22 and a beta of 1.16.
In other news, Director James E. Craddock sold 18,787 shares of Noble Energy stock in a transaction 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 owns 114,226 shares in the company, valued at approximately $3,263,436.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David L. Stover acquired 19,000 shares of the stock in a transaction dated Monday, December 18th. The stock was bought at an average price of $26.31 per share, with a total value of $499,890.00. Following the purchase, the chief executive officer now directly owns 727,254 shares in the company, valued at $19,134,052.74. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 518,787 shares of company stock valued at $14,283,745. Company insiders own 2.28% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new position in Noble Energy during the 2nd quarter worth $106,000. Massey Quick Simon & CO. LLC purchased a new position in shares of Noble Energy in the 3rd quarter worth about $155,000. Global X Management Co. LLC boosted its holdings in shares of Noble Energy by 22.6% in the 2nd quarter. Global X Management Co. LLC now owns 6,993 shares of the oil and gas development company’s stock worth $198,000 after buying an additional 1,291 shares during the last quarter. IndexIQ Advisors LLC purchased a new position in shares of Noble Energy in the 2nd quarter worth about $214,000. Finally, Pacer Advisors Inc. boosted its holdings in shares of Noble Energy by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 7,598 shares of the oil and gas development company’s stock worth $215,000 after buying an additional 580 shares during the last quarter. Institutional investors own 94.16% of the company’s stock.
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About Noble Energy
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.
