Noble Energy Inc. (NBL) Receives Consensus Rating of “Buy” from Analysts

Shares of Noble Energy Inc. (NYSE:NBL) have earned an average recommendation of “Buy” from the twenty-seven research firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, nineteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $43.34.

A number of research firms recently weighed in on NBL. Citigroup Inc. cut shares of Noble Energy from a “buy” rating to a “neutral” rating in a research note on Friday. BidaskClub raised shares of Noble Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Tudor Pickering raised shares of Noble Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, June 6th. Credit Suisse Group reissued an “outperform” rating and issued a $50.00 target price on shares of Noble Energy in a research note on Friday, June 2nd. Finally, ValuEngine cut shares of Noble Energy from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd.

Shares of Noble Energy (NBL) traded down 2.072% during trading on Tuesday, reaching $28.595. The company’s stock had a trading volume of 4,481,956 shares. Noble Energy has a 1-year low of $27.92 and a 1-year high of $42.03. The stock’s market capitalization is $12.32 billion. The company’s 50-day moving average price is $30.20 and its 200 day moving average price is $35.28.

Noble Energy (NYSE:NBL) last posted its earnings results on Monday, May 1st. The oil and gas development company reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.09. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $974.54 million. Noble Energy had a negative net margin of 17.75% and a negative return on equity of 0.44%. The firm’s revenue for the quarter was up 43.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.53) earnings per share. Analysts anticipate that Noble Energy will post ($0.01) EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 22nd. Investors of record on Monday, May 8th were issued a $0.10 dividend. The ex-dividend date was Thursday, May 4th. This represents a $0.40 annualized dividend and a yield of 1.37%. Noble Energy’s dividend payout ratio is currently -25.48%.

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A number of institutional investors have recently made changes to their positions in the stock. Cambiar Investors LLC raised its position in shares of Noble Energy by 2.8% in the first quarter. Cambiar Investors LLC now owns 1,209,445 shares of the oil and gas development company’s stock valued at $41,532,000 after buying an additional 32,437 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of Noble Energy by 3.6% in the first quarter. Retirement Systems of Alabama now owns 210,503 shares of the oil and gas development company’s stock valued at $7,229,000 after buying an additional 7,317 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Noble Energy by 86.0% in the first quarter. ProShare Advisors LLC now owns 132,825 shares of the oil and gas development company’s stock valued at $4,561,000 after buying an additional 61,415 shares in the last quarter. Bridgewater Associates LP raised its position in shares of Noble Energy by 1.3% in the first quarter. Bridgewater Associates LP now owns 107,164 shares of the oil and gas development company’s stock valued at $3,680,000 after buying an additional 1,402 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Noble Energy by 26.6% in the fourth quarter. Renaissance Technologies LLC now owns 298,077 shares of the oil and gas development company’s stock valued at $11,345,000 after buying an additional 62,600 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NBL”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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