Noble Energy (NBL) Rating Increased to Buy at Jefferies Group

Jefferies Group upgraded shares of Noble Energy (NYSE:NBL) from a hold rating to a buy rating in a research report sent to investors on Wednesday, Marketbeat reports. Jefferies Group currently has $32.00 price target on the oil and gas development company’s stock. Jefferies Group also issued estimates for Noble Energy’s Q4 2017 earnings at $0.05 EPS, FY2017 earnings at $0.13 EPS, Q3 2018 earnings at $0.15 EPS and Q4 2018 earnings at $0.16 EPS.

A number of other analysts also recently issued reports on NBL. Stifel Nicolaus set a $42.00 price objective on Noble Energy and gave the stock a buy rating in a research note on Monday, December 18th. Seaport Global Securities raised Noble Energy from a neutral rating to a buy rating in a research note on Tuesday, December 19th. Imperial Capital assumed coverage on Noble Energy in a research note on Thursday, September 28th. They issued an outperform rating and a $40.00 price objective on the stock. Mizuho reaffirmed a buy rating on shares of Noble Energy in a research note on Friday, September 29th. Finally, Cowen set a $35.00 price objective on Noble Energy and gave the stock a buy rating in a research note on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $39.60.

Shares of Noble Energy (NBL) opened at $28.79 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.75. Noble Energy has a 12 month low of $22.99 and a 12 month high of $40.89. The stock has a market capitalization of $14,050.00, a P/E ratio of -7.22 and a beta of 1.16.

Noble Energy (NYSE:NBL) last released its quarterly earnings data on Monday, October 30th. The oil and gas development company reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $960.00 million for the quarter, compared to the consensus estimate of $961.61 million. During the same quarter in the previous year, the company posted ($0.07) EPS. The company’s revenue was up 5.5% compared to the same quarter last year. sell-side analysts expect that Noble Energy will post -0.01 earnings per share for the current year.

In other Noble Energy news, CEO David L. Stover acquired 19,000 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was bought at an average price of $26.31 per share, for a total transaction of $499,890.00. Following the acquisition, the chief executive officer now directly owns 727,254 shares in the company, valued at $19,134,052.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gary W. Willingham acquired 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were acquired at an average price of $26.00 per share, with a total value of $780,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 518,787 shares of company stock valued at $14,283,745. 2.28% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Atlantic Trust Group LLC boosted its holdings in Noble Energy by 137.3% during the 3rd quarter. Atlantic Trust Group LLC now owns 414,634 shares of the oil and gas development company’s stock valued at $11,759,000 after acquiring an additional 239,916 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Noble Energy by 2.7% in the 3rd quarter. California Public Employees Retirement System now owns 872,389 shares of the oil and gas development company’s stock worth $24,741,000 after buying an additional 22,605 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Noble Energy by 29.1% in the 3rd quarter. Janus Henderson Group PLC now owns 2,399,484 shares of the oil and gas development company’s stock worth $68,049,000 after buying an additional 540,221 shares during the period. Jane Street Group LLC purchased a new stake in shares of Noble Energy in the 3rd quarter worth $2,500,000. Finally, Vident Investment Advisory LLC purchased a new stake in shares of Noble Energy in the 3rd quarter worth $361,000. 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.

Analyst Recommendations for Noble Energy (NYSE:NBL)

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