UBS Group Analysts Give Noble Energy (NBL) a $34.00 Price Target

Noble Energy (NYSE:NBL) has been assigned a $34.00 price objective by equities research analysts at UBS Group in a report released on Wednesday, www.tipranks.com reports. The firm currently has a “buy” rating on the oil and gas development company’s stock. UBS Group’s price objective suggests a potential upside of 41.37% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Capital One Financial lowered Noble Energy from an “overweight” rating to an “underweight” rating in a research report on Thursday, December 20th. Oppenheimer restated a “hold” rating on shares of Noble Energy in a research report on Thursday, November 1st. Tudor Pickering upgraded Noble Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, November 7th. JPMorgan Chase & Co. set a $28.00 price objective on Noble Energy and gave the stock a “hold” rating in a research report on Friday, December 7th. Finally, Raymond James set a $32.00 price objective on Noble Energy and gave the stock a “buy” rating in a research report on Wednesday, January 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Noble Energy currently has a consensus rating of “Buy” and a consensus target price of $39.16.

Shares of NYSE:NBL traded up $0.35 during midday trading on Wednesday, reaching $24.05. The company had a trading volume of 9,402,435 shares, compared to its average volume of 6,247,077. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.58. Noble Energy has a 1-year low of $17.11 and a 1-year high of $37.76. The firm has a market capitalization of $11.37 billion, a price-to-earnings ratio of 77.58, a price-to-earnings-growth ratio of 1.10 and a beta of 1.38.

Noble Energy (NYSE:NBL) last released its quarterly earnings results on Tuesday, February 19th. The oil and gas development company reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01. Noble Energy had a return on equity of 4.82% and a net margin of 25.09%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the company posted $0.32 EPS. Noble Energy’s revenue for the quarter was down .3% on a year-over-year basis. Equities analysts predict that Noble Energy will post 0.91 earnings per share for the current year.

In other news, CFO Kenneth M. Fisher sold 16,564 shares of the firm’s stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $22.89, for a total transaction of $379,149.96. Following the completion of the sale, the chief financial officer now directly owns 215,854 shares of the company’s stock, valued at approximately $4,940,898.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.96% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of Montreal Can raised its stake in shares of Noble Energy by 29.3% during the 3rd quarter. Bank of Montreal Can now owns 216,958 shares of the oil and gas development company’s stock worth $6,767,000 after purchasing an additional 49,206 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Noble Energy by 887.5% in the 3rd quarter. AQR Capital Management LLC now owns 202,857 shares of the oil and gas development company’s stock valued at $6,327,000 after acquiring an additional 182,314 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of Noble Energy by 412.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,281,538 shares of the oil and gas development company’s stock valued at $39,971,000 after acquiring an additional 1,031,538 shares in the last quarter. Guinness Asset Management Ltd raised its stake in shares of Noble Energy by 15.5% in the 4th quarter. Guinness Asset Management Ltd now owns 373,525 shares of the oil and gas development company’s stock valued at $7,007,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Kentucky Retirement Systems bought a new position in shares of Noble Energy in the 3rd quarter valued at approximately $2,020,000. 95.98% of the stock is owned by institutional investors.

About Noble Energy

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.

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Analyst Recommendations for Noble Energy (NYSE:NBL)

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