Noble Energy Inc. (NBL) Stock Rating Reaffirmed by Nomura
Noble Energy Inc. (NYSE:NBL)‘s stock had its “buy” rating reiterated by research analysts at Nomura in a research report issued to clients and investors on Thursday. They presently have a $41.00 price objective on the oil and gas development company’s stock. Nomura’s target price would indicate a potential upside of 17.14% from the stock’s previous close.
Other equities analysts also recently issued research reports about the company. Credit Suisse Group AG reissued a “buy” rating on shares of Noble Energy in a research report on Thursday, November 10th. Jefferies Group reissued a “buy” rating and set a $45.00 price target on shares of Noble Energy in a research report on Thursday, November 3rd. Mizuho started coverage on Noble Energy in a research report on Friday, October 14th. They set a “buy” rating and a $44.00 price target on the stock. Johnson Rice reissued a “buy” rating and set a $21.00 price target (up previously from $19.00) on shares of Noble Energy in a research report on Thursday, September 15th. Finally, Seaport Global Securities downgraded Noble Energy from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $45.00 to $38.00 in a research report on Thursday. Three research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-one have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $40.71.
Noble Energy (NYSE:NBL) opened at 35.00 on Thursday. The firm’s market capitalization is $15.05 billion. Noble Energy has a one year low of $23.77 and a one year high of $38.62. The stock has a 50 day moving average price of $35.94 and a 200-day moving average price of $35.57.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 21st. Shareholders of record on Monday, November 7th will be given a dividend of $0.10 per share. 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 dividend payout ratio (DPR) 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 on Wednesday, November 2nd. The shares were sold at an average price of $37.00, for a total transaction of $276,760.00. Following the sale, the vice president now owns 34,216 shares of the company’s stock, valued at $1,265,992. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey L. Berenson sold 10,000 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $34.05, for a total transaction of $340,500.00. Following 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. Company insiders own 2.17% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC boosted its position in Noble Energy by 1.4% in the second quarter. Checchi Capital Advisers LLC now owns 3,592 shares of the oil and gas development company’s stock worth $129,000 after buying an additional 49 shares during the period. Advisor Group Inc. bought a new position in Noble Energy during the second quarter worth about $136,000. Creative Planning boosted its position in Noble Energy by 34.7% in the second quarter. Creative Planning now owns 5,281 shares of the oil and gas development company’s stock worth $189,000 after buying an additional 1,360 shares during the period. Penobscot Investment Management Company Inc. bought a new position in Noble Energy during the second quarter worth about $201,000. Finally, Carderock Capital Management Inc. bought a new position in Noble Energy during the second quarter worth about $206,000. 95.38% of the stock is currently owned by institutional investors.
Noble Energy Company Profile
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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