Noble Energy (NYSE:NBL) was downgraded by stock analysts at Wolfe Research from an “outperform” rating to a “market perform” rating in a report released on Tuesday, The Fly reports.
Other analysts have also issued research reports about the company. Stifel Nicolaus set a $39.00 price objective on Noble Energy and gave the stock a “buy” rating in a report on Thursday, October 5th. Piper Jaffray Companies reissued a “buy” rating and set a $35.00 price objective on shares of Noble Energy in a report on Friday, November 17th. Cowen set a $40.00 price objective on Noble Energy and gave the stock a “buy” rating in a report on Sunday, December 10th. Royal Bank of Canada set a $37.00 price objective on Noble Energy and gave the stock a “buy” rating in a report on Sunday, October 15th. Finally, BMO Capital Markets set a $33.00 price objective on Noble Energy and gave the stock a “buy” rating in a report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nineteen have assigned a buy rating to the stock. Noble Energy currently has an average rating of “Buy” and a consensus target price of $39.89.
Noble Energy (NYSE:NBL) traded down $1.37 on Tuesday, reaching $30.76. The company’s stock had a trading volume of 2,557,563 shares, compared to its average volume of 3,955,567. The firm has a market cap of $14,880.00, a price-to-earnings ratio of -7.72 and a beta of 1.16. 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 12-month low of $22.99 and a 12-month high of $40.57.
In related news, CEO David L. Stover purchased 19,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were acquired 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Gary W. Willingham purchased 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was bought at an average cost of $26.00 per share, for a total transaction of $780,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 518,787 shares of company stock worth $14,283,745. 2.28% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Guinness Asset Management Ltd raised its position in Noble Energy by 4.4% in the 4th quarter. Guinness Asset Management Ltd now owns 354,925 shares of the oil and gas development company’s stock valued at $10,343,000 after purchasing an additional 15,000 shares during the last quarter. Oslo Asset Management AS raised its position in Noble Energy by 523.9% in the 4th quarter. Oslo Asset Management AS now owns 666,173 shares of the oil and gas development company’s stock valued at $19,412,000 after purchasing an additional 559,400 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI raised its position in Noble Energy by 9.9% in the 4th quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 202,091 shares of the oil and gas development company’s stock valued at $5,889,000 after purchasing an additional 18,150 shares during the last quarter. Lourd Capital LLC bought a new position in Noble Energy in the 4th quarter valued at $203,000. Finally, Assenagon Asset Management S.A. bought a new position in Noble Energy in the 4th quarter valued at $14,187,000. Hedge funds and other institutional investors own 94.43% of the company’s stock.
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.
