Piper Jaffray Companies Reiterates “Buy” Rating for Noble Energy (NBL)
Noble Energy (NYSE:NBL)‘s stock had its “buy” rating restated by investment analysts at Piper Jaffray Companies in a report issued on Tuesday. They currently have a $41.00 price objective on the oil and gas development company’s stock. Piper Jaffray Companies’ target price suggests a potential upside of 27.21% from the company’s current price.
A number of other research firms have also recently weighed in on NBL. Stifel Nicolaus set a $41.00 target price on shares of Noble Energy and gave the company a “buy” rating in a research note on Tuesday, November 28th. Royal Bank of Canada set a $36.00 target price on shares of Noble Energy and gave the company a “buy” rating in a research note on Wednesday, December 20th. Cowen set a $40.00 target price on shares of Noble Energy and gave the company a “buy” rating in a research note on Sunday, December 10th. Credit Suisse Group assumed coverage on shares of Noble Energy in a research note on Monday, December 11th. They issued an “outperform” rating and a $35.00 target price on the stock. Finally, Seaport Global Securities upgraded shares of Noble Energy from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 19th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $39.47.
Noble Energy (NYSE NBL) traded up $0.09 during midday trading on Tuesday, reaching $32.23. 4,247,700 shares of the company were exchanged, compared to its average volume of 4,155,333. The company has a market capitalization of $15,660.00, a PE ratio of -8.08 and a beta of 1.16. Noble Energy has a twelve month low of $22.99 and a twelve month high of $40.89. 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 bought 30,000 shares of Noble Energy stock in a transaction dated Wednesday, November 29th. The shares were bought at an average cost of $26.00 per share, for a total transaction of $780,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas J. Edelman sold 300,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $27.83, for a total transaction of $8,349,000.00. The disclosure for this sale can be found here. Insiders have sold 518,787 shares of company stock worth $14,283,745 over the last quarter. 2.28% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in NBL. Ares Management LLC acquired a new position in shares of Noble Energy during the second quarter worth approximately $499,364,000. Capital World Investors lifted its holdings in Noble Energy by 20.8% in the second quarter. Capital World Investors now owns 55,184,801 shares of the oil and gas development company’s stock valued at $1,561,730,000 after buying an additional 9,488,951 shares during the period. Vanguard Group Inc. lifted its holdings in Noble Energy by 29.8% in the second quarter. Vanguard Group Inc. now owns 38,933,217 shares of the oil and gas development company’s stock valued at $1,101,810,000 after buying an additional 8,933,476 shares during the period. Carmignac Gestion lifted its holdings in Noble Energy by 107.3% in the second quarter. Carmignac Gestion now owns 11,753,883 shares of the oil and gas development company’s stock valued at $332,635,000 after buying an additional 6,084,237 shares during the period. Finally, Balyasny Asset Management LLC acquired a new position in Noble Energy in the second quarter valued at approximately $75,546,000. Institutional investors own 94.16% 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.
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