Noble Energy (NBL) Stock Rating Reaffirmed by Piper Jaffray Companies

Piper Jaffray Companies reiterated their buy rating on shares of Noble Energy (NYSE:NBL) in a research report released on Tuesday. They currently have a $41.00 target price on the oil and gas development company’s stock.

Several other equities analysts have also issued reports on the company. Jefferies Group lowered 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. JPMorgan Chase & Co. lowered Noble Energy from an overweight rating to a neutral rating and set a $30.00 target price on the stock. in a research note on Friday, December 15th. Credit Suisse Group initiated coverage on Noble Energy in a research note on Monday, December 11th. They issued an outperform rating and a $35.00 target price on the stock. 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. Finally, Cowen set a $40.00 target price on Noble Energy and gave the company a buy rating in a research note on Sunday, December 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and nineteen have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $39.47.

Noble Energy (NYSE NBL) traded up $0.09 during mid-day trading on Tuesday, hitting $32.23. The company had a trading volume of 4,255,006 shares, compared to its average volume of 3,928,695. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $15,639.56, a P/E ratio of -8.08 and a beta of 1.16. Noble Energy has a 12-month low of $22.99 and a 12-month high of $40.89.

Noble Energy (NYSE:NBL) last posted its earnings results on Monday, October 30th. The oil and gas development company reported ($0.02) earnings per share (EPS) for the quarter, beating the 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 company had revenue of $960.00 million for the quarter, compared to analyst estimates of $961.61 million. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. analysts predict that Noble Energy will post -0.01 EPS for the current year.

In other news, Director Thomas J. Edelman sold 300,000 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $27.83, for a total transaction of $8,349,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David L. Stover purchased 19,000 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were acquired at an average price of $26.31 per share, for a total transaction of $499,890.00. Following the purchase, the chief executive officer now directly owns 727,254 shares of the company’s stock, valued at approximately $19,134,052.74. The disclosure for this purchase can be found here. Insiders have sold 518,787 shares of company stock worth $14,283,745 in the last 90 days. Insiders own 2.28% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Hexavest Inc. purchased a new stake in shares of Noble Energy during the fourth quarter worth about $38,964,000. Sawyer & Company Inc acquired a new stake in shares of Noble Energy during the fourth quarter worth about $169,000. Atlantic Trust Group LLC lifted its holdings in shares of Noble Energy by 137.3% during the third quarter. Atlantic Trust Group LLC now owns 414,634 shares of the oil and gas development company’s stock worth $11,759,000 after purchasing an additional 239,916 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Noble Energy by 2.7% during the third 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 purchasing an additional 22,605 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Noble Energy by 29.1% during the third 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 purchasing an additional 540,221 shares during the period. Institutional investors and hedge funds own 94.16% of the company’s stock.

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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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