Noble Energy (NYSE:NBL) had its price objective upped by equities researchers at Morgan Stanley from $36.00 to $39.00 in a research report issued on Wednesday. The firm currently has an “overweight” rating on the oil and gas development company’s stock. Morgan Stanley’s price objective suggests a potential upside of 19.82% from the stock’s current price.
Several other equities research analysts also recently weighed in on NBL. Imperial Capital initiated coverage on shares of Noble Energy in a research note on Thursday, September 28th. They issued an “outperform” rating and a $40.00 target price for the company. Mizuho restated a “buy” rating on shares of Noble Energy in a research note on Friday, September 29th. Stifel Nicolaus set a $39.00 target price on shares of Noble Energy and gave the company a “buy” rating in a research note on Thursday, October 5th. Jefferies Group downgraded shares of Noble Energy from a “buy” rating to a “hold” rating and set a $29.00 target price for the company. in a research note on Monday, October 9th. Finally, BMO Capital Markets set a $33.00 target price on shares of Noble Energy and gave the company a “buy” rating in a research note on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and nineteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $39.68.
Shares of Noble Energy (NYSE NBL) traded down $0.07 on Wednesday, reaching $32.55. 3,655,792 shares of the company’s stock traded hands, compared to its average volume of 4,270,000. The firm has a market capitalization of $15,840.00, a P/E ratio of -8.16 and a beta of 1.16. Noble Energy has a 52 week low of $22.99 and a 52 week high of $40.57. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.75.
Noble Energy (NYSE:NBL) last announced its earnings results on Monday, October 30th. The oil and gas development company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.11. The company had revenue of $960.00 million during the quarter, compared to the consensus estimate of $961.61 million. Noble Energy had a negative net margin of 45.85% and a positive return on equity of 1.06%. Noble Energy’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.07) earnings per share. research analysts anticipate that Noble Energy will post 0.02 earnings per share for the current fiscal year.
In other news, Director Thomas J. Edelman sold 300,000 shares of Noble Energy stock in a transaction on Monday, November 13th. The shares were sold at an average price of $27.83, for a total transaction of $8,349,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James E. Craddock sold 18,787 shares of Noble Energy stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $28.57, for a total transaction of $536,744.59. Following the sale, the director now 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 over the last quarter. Insiders own 2.28% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC acquired a new position in Noble Energy during the second quarter valued at $106,000. Massey Quick Simon & CO. LLC acquired a new position in Noble Energy during the third quarter valued at $155,000. Sawyer & Company Inc acquired a new position in Noble Energy during the fourth quarter valued at $169,000. Lourd Capital LLC acquired a new position in Noble Energy during the fourth quarter valued at $203,000. Finally, Riverhead Capital Management LLC lifted its position in Noble Energy by 16.6% during the second quarter. Riverhead Capital Management LLC now owns 8,529 shares of the oil and gas development company’s stock valued at $241,000 after purchasing an additional 1,215 shares during the period. Institutional investors own 94.41% of the company’s stock.
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.