BMO Capital Markets Upgrades Noble Energy Inc. (NBL) to Outperform

Noble Energy Inc. (NYSE:NBL) was upgraded by stock analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $50.00 price objective on the oil and gas development company’s stock, up from their prior price objective of $45.00. BMO Capital Markets’ price objective points to a potential upside of 35.17% from the stock’s current price.

NBL has been the topic of a number of other research reports. KLR Group restated a “buy” rating and set a $67.00 price target (up previously from $55.00) on shares of Noble Energy in a report on Wednesday, December 7th. Seaport Global Securities lowered shares of Noble Energy from a “neutral” rating to a “sell” rating and cut their price target for the company from $45.00 to $38.00 in a report on Tuesday, December 6th. Vetr lowered shares of Noble Energy from a “buy” rating to a “hold” rating and set a $41.00 price target on the stock. in a report on Tuesday, December 13th. Wells Fargo & Company restated a “hold” rating on shares of Noble Energy in a report on Tuesday, November 22nd. Finally, Credit Suisse Group restated a “buy” rating and set a $46.00 price target on shares of Noble Energy in a report on Monday, December 19th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $42.75.

Analyst Recommendations for Noble Energy (NYSE:NBL)

Noble Energy (NYSE:NBL) traded up 0.87% during trading on Wednesday, hitting $37.31. 607,344 shares of the company traded hands. The firm’s market cap is $16.04 billion. The firm has a 50 day moving average of $38.67 and a 200 day moving average of $36.20. Noble Energy has a one year low of $23.77 and a one year high of $42.03.

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In related news, VP Arnold J. Johnson sold 24,505 shares of the company’s stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $42.00, for a total transaction of $1,029,210.00. Following the completion of the sale, the vice president now directly owns 159,764 shares of the company’s stock, valued at approximately $6,710,088. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Susan M. Cunningham sold 68,910 shares of the company’s stock in a transaction on Monday, December 12th. The stock was sold at an average price of $40.36, for a total transaction of $2,781,207.60. Following the sale, the vice president now directly owns 245,148 shares of the company’s stock, valued at $9,894,173.28. The disclosure for this sale can be found here. Corporate insiders own 2.17% of the company’s stock.

Several hedge funds have recently bought and sold shares of NBL. Checchi Capital Advisers LLC increased its stake 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 valued at $129,000 after buying an additional 49 shares in the last quarter. Sfmg LLC increased its stake in Noble Energy by 0.3% in the third quarter. Sfmg LLC now owns 20,911 shares of the oil and gas development company’s stock valued at $680,000 after buying an additional 71 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in Noble Energy by 0.4% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 32,496 shares of the oil and gas development company’s stock valued at $1,161,000 after buying an additional 130 shares in the last quarter. UMB Bank N A MO increased its stake in Noble Energy by 0.5% in the third quarter. UMB Bank N A MO now owns 26,407 shares of the oil and gas development company’s stock valued at $943,000 after buying an additional 140 shares in the last quarter. Finally, Eagle Boston Investment Management Inc. increased its stake in Noble Energy by 1.0% in the third quarter. Eagle Boston Investment Management Inc. now owns 15,748 shares of the oil and gas development company’s stock valued at $562,000 after buying an additional 163 shares in the last quarter. 92.81% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NYSE:NBL

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