Noble Energy (NBL) Upgraded by ValuEngine to Hold

Noble Energy (NYSE:NBL) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Thursday.

A number of other equities analysts have also recently issued reports on NBL. Credit Suisse Group set a $40.00 price objective on shares of Noble Energy and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Morgan Stanley increased their price objective on shares of Noble Energy from $36.00 to $39.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Jefferies Group set a $38.00 price objective on shares of Noble Energy and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Stifel Nicolaus set a $40.00 price objective on shares of Noble Energy and gave the stock a “buy” rating in a research report on Monday, January 29th. Finally, Wolfe Research cut shares of Noble Energy from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-one have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $40.86.

Shares of Noble Energy traded up $0.69, reaching $36.25, on Thursday, Marketbeat.com reports. 2,912,345 shares of the company were exchanged, compared to its average volume of 4,902,158. The stock has a market capitalization of $17.11 billion, a PE ratio of 116.94 and a beta of 1.02. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.17 and a quick ratio of 1.17. Noble Energy has a one year low of $34.92 and a one year high of $35.36.

Noble Energy (NYSE:NBL) last released its quarterly earnings data on Tuesday, May 1st. The oil and gas development company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.07. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Noble Energy had a negative net margin of 13.32% and a positive return on equity of 3.25%. The business’s revenue was up 24.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.05) EPS. analysts anticipate that Noble Energy will post 1.11 earnings per share for the current fiscal year.

Noble Energy announced that its board has approved a stock buyback plan on Thursday, February 15th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the oil and gas development company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

In other Noble Energy news, Director James E. Craddock sold 8,500 shares of the stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $31.35, for a total value of $266,475.00. Following the completion of the sale, the director now owns 93,413 shares in the company, valued at approximately $2,928,497.55. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Andrea Lee Robison sold 8,760 shares of the stock in a transaction dated Wednesday, May 9th. The shares were sold at an average price of $35.00, for a total transaction of $306,600.00. Following the completion of the sale, the vice president now owns 100,918 shares of the company’s stock, valued at approximately $3,532,130. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,260 shares of company stock valued at $772,695. Company insiders own 1.96% of the company’s stock.

A number of large investors have recently bought and sold shares of NBL. Bank of Montreal Can increased its stake in Noble Energy by 3.5% in the 4th quarter. Bank of Montreal Can now owns 204,347 shares of the oil and gas development company’s stock valued at $5,955,000 after buying an additional 6,969 shares during the last quarter. National Pension Service increased its stake in Noble Energy by 20.4% in the 4th quarter. National Pension Service now owns 531,783 shares of the oil and gas development company’s stock valued at $15,496,000 after buying an additional 90,096 shares during the last quarter. Creative Planning increased its stake in Noble Energy by 97.0% in the 4th quarter. Creative Planning now owns 31,343 shares of the oil and gas development company’s stock valued at $913,000 after buying an additional 15,432 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Noble Energy by 1.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,725,980 shares of the oil and gas development company’s stock valued at $50,296,000 after buying an additional 25,741 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Noble Energy by 82.8% in the 4th quarter. State of Alaska Department of Revenue now owns 66,252 shares of the oil and gas development company’s stock valued at $1,930,000 after buying an additional 30,000 shares during the last quarter. Hedge funds and other institutional investors own 96.57% of the company’s stock.

Noble Energy Company Profile

Noble Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids worldwide. It owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins. It principal projects are primarily located in the US unconventional basins and various global offshore conventional basins.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Noble Energy (NYSE:NBL)

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