Noble Energy Inc. (NBL) PT Raised to $33.00
Noble Energy Inc. (NYSE:NBL) had its target price increased by investment analysts at Barclays PLC from $32.00 to $33.00 in a report released on Wednesday. The firm currently has an “overweight” rating on the oil and gas development company’s stock. Barclays PLC’s price objective would indicate a potential upside of 20.92% from the company’s current price.
Several other research firms have also recently issued reports on NBL. BidaskClub raised Noble Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Citigroup Inc. cut Noble Energy from a “buy” rating to a “neutral” rating in a research note on Friday, June 16th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $38.00 target price on shares of Noble Energy in a research note on Thursday, July 20th. Cowen and Company set a $35.00 target price on Noble Energy and gave the company a “buy” rating in a research note on Tuesday, July 18th. Finally, Stifel Nicolaus set a $39.00 target price on Noble Energy and gave the company a “buy” rating in a research note on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $41.02.
Noble Energy (NYSE NBL) opened at 27.29 on Wednesday. The firm’s 50 day moving average is $26.29 and its 200 day moving average is $28.89. The company’s market cap is $12.88 billion. Noble Energy has a 52-week low of $22.99 and a 52-week high of $42.03.
Noble Energy (NYSE:NBL) last released 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 company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the business posted ($0.24) earnings per share. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. Analysts forecast that Noble Energy will post ($0.15) EPS for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC lifted its stake in Noble Energy by 0.4% in the 1st quarter. HighTower Advisors LLC now owns 12,644 shares of the oil and gas development company’s stock worth $434,000 after acquiring an additional 52 shares in the last quarter. Fifth Third Bancorp lifted its stake in Noble Energy by 5.5% in the 1st quarter. Fifth Third Bancorp now owns 2,913 shares of the oil and gas development company’s stock worth $100,000 after acquiring an additional 153 shares in the last quarter. Cadence Capital Management LLC lifted its stake in Noble Energy by 1.0% in the 2nd quarter. Cadence Capital Management LLC now owns 15,922 shares of the oil and gas development company’s stock worth $451,000 after acquiring an additional 163 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Noble Energy by 2.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,842 shares of the oil and gas development company’s stock worth $304,000 after acquiring an additional 203 shares in the last quarter. Finally, Cleararc Capital Inc. lifted its stake in Noble Energy by 2.2% in the 1st quarter. Cleararc Capital Inc. now owns 10,641 shares of the oil and gas development company’s stock worth $365,000 after acquiring an additional 233 shares in the last quarter. 91.64% of the stock is 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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