Noble Energy Inc. (NYSE:NBL) Lifted to Neutral at Seaport Global Securities
Seaport Global Securities upgraded shares of Noble Energy Inc. (NYSE:NBL) from a sell rating to a neutral rating in a report published on Friday, Marketbeat reports. They currently have $26.00 target price on the oil and gas development company’s stock, up from their prior target price of $23.00.
Other research analysts have also issued reports about the company. Bank of America Corporation upgraded Noble Energy from a neutral rating to a buy rating and reduced their price target for the stock from $53.00 to $49.00 in a research report on Thursday, May 11th. Jefferies Group LLC set a $40.00 price target on Noble Energy and gave the stock a buy rating in a research report on Wednesday, May 17th. Credit Suisse Group reiterated a buy rating and set a $44.00 target price on shares of Noble Energy in a report on Thursday, April 27th. Royal Bank Of Canada reiterated a buy rating and set a $48.00 target price on shares of Noble Energy in a report on Tuesday, April 25th. Finally, Cowen and Company set a $45.00 target price on Noble Energy and gave the stock a buy rating in a report on Tuesday, May 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of $41.48.
Noble Energy (NYSE NBL) traded down 1.08% on Friday, reaching $24.65. The company had a trading volume of 4,006,409 shares. The stock’s market capitalization is $11.63 billion. Noble Energy has a 12 month low of $24.63 and a 12 month high of $42.03. The firm has a 50 day moving average price of $27.74 and a 200-day moving average price of $32.28.
Noble Energy (NYSE:NBL) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.18. Noble Energy had a positive return on equity of 0.86% and a negative net margin of 46.63%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company earned ($0.24) EPS. The firm’s revenue was up 25.0% on a year-over-year basis. Analysts forecast that Noble Energy will post ($0.14) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Monday, August 7th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Thursday, August 3rd. Noble Energy’s dividend payout ratio (DPR) is presently -9.90%.
A number of institutional investors have recently made changes to their positions in the company. Shell Asset Management Co. increased its position in shares of Noble Energy by 4.4% in the second quarter. Shell Asset Management Co. now owns 108,468 shares of the oil and gas development company’s stock worth $3,070,000 after buying an additional 4,528 shares during the period. Cambiar Investors LLC increased its position in shares of Noble Energy by 2.8% in the first quarter. Cambiar Investors LLC now owns 1,209,445 shares of the oil and gas development company’s stock worth $41,532,000 after buying an additional 32,437 shares during the period. Morgan Stanley increased its position in shares of Noble Energy by 12.5% in the first quarter. Morgan Stanley now owns 2,704,117 shares of the oil and gas development company’s stock worth $92,859,000 after buying an additional 301,069 shares during the period. Bridgewater Associates LP increased its position in shares of Noble Energy by 1.3% in the first quarter. Bridgewater Associates LP now owns 107,164 shares of the oil and gas development company’s stock worth $3,680,000 after buying an additional 1,402 shares during the period. Finally, Retirement Systems of Alabama increased its position in shares of Noble Energy by 3.6% in the first quarter. Retirement Systems of Alabama now owns 210,503 shares of the oil and gas development company’s stock worth $7,229,000 after buying an additional 7,317 shares during the period. 96.94% of the stock is currently owned by hedge funds and other institutional investors.
About Noble Energy
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.
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