Noble Energy Inc. (NBL) Rating Reiterated by Bank of America Corp.
Noble Energy Inc. (NYSE:NBL)‘s stock had its “hold” rating restated by analysts at Bank of America Corp. in a note issued to investors on Thursday.
A number of other analysts have also recently commented on the stock. Jefferies Group reiterated a “buy” rating and issued a $45.00 target price on shares of Noble Energy in a research note on Wednesday, October 19th. Johnson Rice reissued a “buy” rating and set a $21.00 price target (up from $19.00) on shares of Noble Energy in a research report on Thursday, September 15th. Nomura reissued a “buy” rating and set a $41.00 price target on shares of Noble Energy in a research report on Monday, November 7th. Mizuho started coverage on shares of Noble Energy in a research report on Friday, October 14th. They set a “buy” rating and a $44.00 price target for the company. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Noble Energy in a research report on Thursday, November 10th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $40.71.
Noble Energy (NYSE:NBL) opened at 35.00 on Thursday. The company’s market cap is $15.05 billion. Noble Energy has a 12 month low of $23.77 and a 12 month high of $38.62. The company’s 50 day moving average is $35.94 and its 200-day moving average is $35.57.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 21st. Shareholders of record on Monday, November 7th will be given a $0.10 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 1.14%. Noble Energy’s payout ratio is currently -6.19%.
In other Noble Energy news, VP Michael W. Putnam sold 7,480 shares of the company’s stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $37.00, for a total value of $276,760.00. Following the transaction, the vice president now owns 34,216 shares of the company’s stock, valued at $1,265,992. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey L. Berenson sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $34.05, for a total transaction of $340,500.00. Following the completion of the transaction, the director now directly owns 82,269 shares in the company, valued at approximately $2,801,259.45. The disclosure for this sale can be found here. 2.17% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of NBL. BP PLC acquired a new stake in shares of Noble Energy during the second quarter worth about $1,972,000. Legal & General Group Plc raised its stake in shares of Noble Energy by 3.2% in the first quarter. Legal & General Group Plc now owns 1,865,006 shares of the oil and gas development company’s stock worth $58,576,000 after buying an additional 57,066 shares during the period. Strs Ohio raised its stake in shares of Noble Energy by 10.1% in the second quarter. Strs Ohio now owns 1,455,163 shares of the oil and gas development company’s stock worth $52,196,000 after buying an additional 133,449 shares during the period. Carmignac Gestion acquired a new stake in shares of Noble Energy during the second quarter worth about $218,343,000. Finally, A.R.T. Advisors LLC acquired a new stake in shares of Noble Energy during the first quarter worth about $3,241,000. 95.38% of the stock is currently owned by institutional investors.
About Noble Energy
Noble Energy, Inc is an independent energy company engaged in crude oil, natural gas and natural gas liquids (NGLs) exploration and production. The Company’s portfolio is diversified between short-term and long-term projects, domestic and international and a balanced production mix among crude oil, natural gas and NGLs.
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