Noble Energy (NYSE:NBL) has been given a $42.00 price objective by analysts at Stifel Nicolaus in a report released on Monday. The firm presently has a “buy” rating on the oil and gas development company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 63.68% from the stock’s current price.
A number of other analysts have also recently weighed in on NBL. Credit Suisse Group assumed coverage on shares of Noble Energy in a report on Monday, December 11th. They set an “outperform” rating and a $35.00 target price on the stock. J P Morgan Chase & Co cut shares of Noble Energy from an “overweight” rating to a “neutral” rating and set a $30.00 target price on the stock. in a report on Friday. Imperial Capital began coverage on shares of Noble Energy in a report on Thursday, September 28th. They issued an “outperform” rating and a $40.00 price objective on the stock. Cowen set a $40.00 price objective on shares of Noble Energy and gave the stock a “buy” rating in a report on Sunday, December 10th. Finally, Mizuho reaffirmed a “buy” rating on shares of Noble Energy in a report on Friday, September 29th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $39.50.
Shares of Noble Energy (NBL) traded down $0.80 during trading hours on Monday, hitting $25.66. 7,322,400 shares of the company’s stock were exchanged, compared to its average volume of 5,140,672. The firm has a market capitalization of $12,486.33, a PE ratio of 106.92 and a beta of 1.16. Noble Energy has a 52 week low of $22.99 and a 52 week 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.
In related news, Director Thomas J. Edelman sold 200,000 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $26.99, for a total value of $5,398,000.00. Following the completion of the transaction, the director now owns 2,952,878 shares in the company, valued at approximately $79,698,177.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gary W. Willingham bought 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was bought at an average price of $26.00 per share, with a total value of $780,000.00. The disclosure for this purchase can be found here. Insiders sold a total of 518,787 shares of company stock valued at $14,283,745 in the last quarter. 2.28% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in NBL. Ares Management LLC bought a new position in Noble Energy in the 2nd quarter valued at about $499,364,000. Capital World Investors boosted its position in shares of Noble Energy by 20.8% during the 2nd quarter. Capital World Investors now owns 55,184,801 shares of the oil and gas development company’s stock valued at $1,561,730,000 after purchasing an additional 9,488,951 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Noble Energy by 29.8% during the 2nd quarter. Vanguard Group Inc. now owns 38,933,217 shares of the oil and gas development company’s stock valued at $1,101,810,000 after purchasing an additional 8,933,476 shares in the last quarter. Carmignac Gestion boosted its position in shares of Noble Energy by 107.3% during the 2nd quarter. Carmignac Gestion now owns 11,753,883 shares of the oil and gas development company’s stock valued at $332,635,000 after purchasing an additional 6,084,237 shares in the last quarter. Finally, Balyasny Asset Management LLC bought a new position in shares of Noble Energy during the 2nd quarter valued at about $75,546,000. Hedge funds and other institutional investors own 94.32% 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.
