BMO Capital Markets set a $33.00 target price on Noble Energy Inc. (NYSE:NBL) in a research note released on Tuesday morning. The firm currently has a buy rating on the oil and gas development company’s stock.
Several other equities research analysts also recently issued reports on the stock. Jefferies Group LLC downgraded shares of Noble Energy from a buy rating to a hold rating and set a $29.00 price objective for the company. in a research report on Monday. Stifel Nicolaus set a $39.00 price objective on shares of Noble Energy and gave the stock a buy rating in a research report on Thursday, October 5th. Mizuho restated a buy rating on shares of Noble Energy in a research report on Friday, September 29th. Imperial Capital assumed coverage on shares of Noble Energy in a report on Thursday, September 28th. They set an outperform rating and a $40.00 target price on the stock. Finally, Piper Jaffray Companies lowered their target price on shares of Noble Energy from $47.00 to $32.00 and set an overweight rating on the stock in a report on Monday, September 18th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $40.98.
Noble Energy (NBL) opened at 27.54 on Tuesday. The company’s market capitalization is $13.00 billion. Noble Energy has a 52 week low of $22.99 and a 52 week high of $42.03. The company’s 50-day moving average price is $26.06 and its 200 day moving average price is $28.91.
Noble Energy (NYSE:NBL) last issued its quarterly earnings data 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. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Noble Energy had a negative net margin of 46.63% and a positive return on equity of 0.86%. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period last year, the business posted ($0.24) earnings per share. On average, analysts predict that Noble Energy will post ($0.14) EPS for the current year.
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Hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp raised its holdings in shares of Noble Energy by 5.5% during the first quarter. Fifth Third Bancorp now owns 2,913 shares of the oil and gas development company’s stock valued at $100,000 after purchasing an additional 153 shares during the period. Tower Research Capital LLC TRC acquired a new position in shares of Noble Energy during the second quarter valued at about $106,000. Harbour Capital Advisors LLC acquired a new position in shares of Noble Energy during the first quarter valued at about $136,000. Global X Management Co. LLC raised its holdings in shares of Noble Energy by 30.1% during the first quarter. Global X Management Co. LLC now owns 5,702 shares of the oil and gas development company’s stock valued at $196,000 after purchasing an additional 1,319 shares during the period. Finally, Highbridge Capital Management LLC acquired a new position in shares of Noble Energy during the first quarter valued at about $201,000. Institutional investors and hedge funds own 91.64% of the company’s stock.
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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