Noble Energy (NYSE:NBL) received a $40.00 price target from analysts at Stifel Nicolaus in a research note issued on Monday. The firm currently has a “buy” rating on the oil and gas development company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 31.58% from the company’s previous close.
NBL has been the topic of a number of other reports. BMO Capital Markets set a $33.00 target price on shares of Noble Energy and gave the stock a “buy” rating in a report on Tuesday, October 10th. Morgan Stanley increased their target price on shares of Noble Energy from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Barclays increased their target price on shares of Noble Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Wednesday, October 11th. Jefferies Group lowered shares of Noble Energy from a “buy” rating to a “hold” rating and set a $29.00 target price on the stock. in a report on Monday, October 9th. Finally, Credit Suisse Group set a $40.00 target price on shares of Noble Energy and gave the stock a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nineteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $39.89.
Noble Energy (NYSE NBL) traded down $1.73 during trading on Monday, reaching $30.40. 6,279,654 shares of the company’s stock were exchanged, compared to its average volume of 4,200,000. The firm has a market cap of $14,790.00, a price-to-earnings ratio of -7.62 and a beta of 1.16. Noble Energy has a 12 month low of $22.99 and a 12 month high of $40.57. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.95 and a current ratio of 0.95.
In related news, VP Gary W. Willingham purchased 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were purchased at an average cost of $26.00 per share, for a total transaction of $780,000.00. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO David L. Stover purchased 19,000 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were bought at an average price of $26.31 per share, for a total transaction of $499,890.00. Following the completion of 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. Insiders have sold a total of 518,787 shares of company stock worth $14,283,745 over the last quarter. 2.28% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in NBL. Pinebridge Investments L.P. raised its stake in Noble Energy by 9.8% during the 2nd quarter. Pinebridge Investments L.P. now owns 9,748 shares of the oil and gas development company’s stock worth $276,000 after acquiring an additional 872 shares in the last quarter. Suntrust Banks Inc. raised its stake in Noble Energy by 5.6% during the 2nd quarter. Suntrust Banks Inc. now owns 45,189 shares of the oil and gas development company’s stock worth $1,278,000 after acquiring an additional 2,415 shares in the last quarter. Nordea Investment Management AB raised its stake in Noble Energy by 2.8% during the 2nd quarter. Nordea Investment Management AB now owns 19,763 shares of the oil and gas development company’s stock worth $559,000 after acquiring an additional 543 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in Noble Energy by 16.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 707,551 shares of the oil and gas development company’s stock worth $20,024,000 after acquiring an additional 99,555 shares in the last quarter. Finally, QS Investors LLC raised its stake in Noble Energy by 11.9% during the 2nd quarter. QS Investors LLC now owns 48,621 shares of the oil and gas development company’s stock worth $1,376,000 after acquiring an additional 5,188 shares in the last quarter. Hedge funds and other institutional investors own 94.43% of the company’s stock.
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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.
