Noble Energy (NYSE:NBL) was downgraded by J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a report released on Friday. They currently have a $30.00 target price on the oil and gas development company’s stock. J P Morgan Chase & Co’s target price would indicate a potential upside of 13.38% from the company’s current price.
NBL has been the topic of a number of other reports. Barclays cut their target price on Noble Energy from $33.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, November 16th. Jefferies Group cut Noble Energy from a “buy” rating to a “hold” rating and set a $29.00 target price on the stock. in a research note on Monday, October 9th. BMO Capital Markets set a $33.00 target price on Noble Energy and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Piper Jaffray Companies reissued a “buy” rating on shares of Noble Energy in a research note on Sunday, August 20th. Finally, Royal Bank of Canada set a $37.00 price objective on Noble Energy and gave the company a “buy” rating in a research report on Sunday, October 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Noble Energy currently has an average rating of “Buy” and an average target price of $39.45.
Noble Energy (NYSE:NBL) traded down $0.23 during midday trading on Friday, hitting $26.46. The stock had a trading volume of 3,775,700 shares, compared to its average volume of 5,131,619. Noble Energy has a 52-week low of $22.99 and a 52-week high of $41.47. The stock has a market capitalization of $12,987.55, a PE ratio of 111.21 and a beta of 1.16. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.95 and a current ratio of 0.95.
Noble Energy (NYSE:NBL) last released its earnings results on Monday, October 30th. The oil and gas development company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.11. Noble Energy had a positive return on equity of 1.06% and a negative net margin of 45.85%. The firm had revenue of $960.00 million for the quarter, compared to analysts’ expectations of $961.61 million. During the same period in the prior year, the firm posted ($0.07) earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. equities research analysts expect that Noble Energy will post -0.05 earnings per share for the current year.
In other Noble Energy news, VP Gary W. Willingham bought 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were bought at an average price of $26.00 per share, with a total value of $780,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James E. Craddock sold 18,787 shares of Noble Energy stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $28.57, for a total value of $536,744.59. Following the sale, the director now directly owns 114,226 shares in the company, valued at approximately $3,263,436.82. The disclosure for this sale can be found here. Insiders sold 518,787 shares of company stock worth $14,283,745 in the last ninety days. Corporate insiders own 2.28% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Beach Investment Management LLC. purchased a new position in Noble Energy during the 2nd quarter valued at approximately $1,453,000. Global X Management Co. LLC grew its holdings in Noble Energy by 22.6% during the 2nd quarter. Global X Management Co. LLC now owns 6,993 shares of the oil and gas development company’s stock valued at $198,000 after buying an additional 1,291 shares in the last quarter. Trexquant Investment LP purchased a new position in Noble Energy during the 2nd quarter valued at approximately $317,000. Schwab Charles Investment Management Inc. grew its holdings in Noble Energy by 9.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,635,368 shares of the oil and gas development company’s stock valued at $46,281,000 after buying an additional 146,075 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Noble Energy by 99.8% in the 2nd quarter. First Trust Advisors LP now owns 824,874 shares of the oil and gas development company’s stock worth $23,344,000 after purchasing an additional 412,044 shares during the period. 94.32% of the stock is currently owned by institutional investors.
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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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