Stifel Nicolaus Reiterates $42.00 Price Target for Noble Energy (NBL)

Stifel Nicolaus set a $42.00 price target on Noble Energy (NYSE:NBL) in a research report released on Monday. The brokerage currently has a buy rating on the oil and gas development company’s stock.

A number of other brokerages have also issued reports on NBL. Mizuho restated a buy rating on shares of Noble Energy in a research report on Friday, September 29th. Imperial Capital began coverage on shares of Noble Energy in a research report on Thursday, September 28th. They set an outperform rating and a $40.00 target price on the stock. Jefferies Group lowered shares of Noble Energy from a buy rating to a hold rating and set a $29.00 target price on the stock. in a research report on Monday, October 9th. Morgan Stanley raised their target price on shares of Noble Energy from $34.00 to $36.00 and gave the stock an overweight rating in a research report on Wednesday, October 18th. Finally, Barclays lifted their price objective on shares of Noble Energy from $32.00 to $33.00 and gave the company an overweight rating in a research report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $39.60.

Shares of Noble Energy (NYSE:NBL) traded up $0.84 on Monday, hitting $28.70. 5,822,700 shares of the stock were exchanged, compared to its average volume of 5,152,330. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $13,556.88, a price-to-earnings ratio of 116.08 and a beta of 1.16. Noble Energy has a twelve month low of $22.99 and a twelve month high of $40.89.

Noble Energy (NYSE:NBL) last announced its earnings results on Monday, October 30th. The oil and gas development company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.11. The business had revenue of $960.00 million for the quarter, compared to analyst estimates of $961.61 million. Noble Energy had a negative net margin of 45.85% and a positive return on equity of 1.06%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.07) earnings per share. analysts expect that Noble Energy will post -0.03 earnings per share for the current fiscal year.

In other Noble Energy news, Director James E. Craddock sold 18,787 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $28.57, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas J. Edelman sold 300,000 shares of the business’s stock in a transaction 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 a total of 518,787 shares of company stock worth $14,283,745 over the last 90 days. Insiders own 2.28% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new position in shares of Noble Energy during the 2nd quarter worth $106,000. Massey Quick Simon & CO. LLC acquired a new position in shares of Noble Energy during the 3rd quarter worth $155,000. Global X Management Co. LLC raised its stake in shares of 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 worth $198,000 after buying an additional 1,291 shares during the last quarter. IndexIQ Advisors LLC acquired a new position in shares of Noble Energy during the 2nd quarter worth $214,000. Finally, Pacer Advisors Inc. raised its stake in shares of Noble Energy by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 7,598 shares of the oil and gas development company’s stock worth $215,000 after buying an additional 580 shares during the last quarter. 94.16% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Noble Energy (NYSE:NBL)

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