Noble Energy (NYSE:NBL) was upgraded by stock analysts at Jefferies Group from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Marketbeat Ratings reports. The firm currently has a $32.00 price target on the oil and gas development company’s stock. Jefferies Group’s target price would indicate a potential upside of 14.86% from the company’s current price.
NBL has been the subject of several other reports. Barclays reduced their price target on Noble Energy from $33.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, November 16th. J P Morgan Chase & Co cut Noble Energy from an “overweight” rating to a “neutral” rating and set a $30.00 price target for the company. in a report on Friday, December 15th. BMO Capital Markets set a $33.00 price target on Noble Energy and gave the company a “buy” rating in a report on Tuesday, October 10th. Royal Bank of Canada set a $37.00 price target on Noble Energy and gave the company a “buy” rating in a report on Sunday, October 15th. Finally, Mizuho reissued 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, three have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $39.60.
Noble Energy (NBL) traded up $0.63 on Wednesday, hitting $27.86. The stock had a trading volume of 5,385,940 shares, compared to its average volume of 5,149,593. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.75. The firm has a market cap of $13,540.00, a PE ratio of 109.54 and a beta of 1.16. Noble Energy has a 1-year low of $22.99 and a 1-year high of $40.89.
In other news, Director James E. Craddock sold 18,787 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was 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 of the company’s stock, valued at $3,263,436.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David L. Stover purchased 19,000 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was bought at an average cost of $26.31 per share, with a total value of $499,890.00. Following the completion of the acquisition, the chief executive officer now owns 727,254 shares of the company’s stock, valued at $19,134,052.74. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 518,787 shares of company stock valued at $14,283,745. 2.28% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new position in shares of Noble Energy in the second quarter worth $106,000. Massey Quick Simon & CO. LLC acquired a new position in shares of Noble Energy in the third quarter worth $155,000. Global X Management Co. LLC raised its holdings in shares of Noble Energy by 22.6% in the second quarter. Global X Management Co. LLC now owns 6,993 shares of the oil and gas development company’s stock worth $198,000 after acquiring an additional 1,291 shares during the last quarter. IndexIQ Advisors LLC acquired a new position in shares of Noble Energy in the second quarter worth $214,000. Finally, Pacer Advisors Inc. raised its holdings in shares of Noble Energy by 8.3% in the second quarter. Pacer Advisors Inc. now owns 7,598 shares of the oil and gas development company’s stock worth $215,000 after acquiring an additional 580 shares during the last quarter. 94.16% of the stock is owned by institutional investors.
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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.
