Noble Energy (NYSE:NBL) had its price objective hoisted by investment analysts at Bank of America from $52.00 to $57.00 in a research report issued on Monday. The firm presently has a “buy” rating on the oil and gas development company’s stock. Bank of America’s price target would suggest a potential upside of 82.52% from the stock’s current price.
Several other equities research analysts have also commented on the company. Royal Bank of Canada set a $37.00 price target on Noble Energy and gave the stock a “buy” rating in a research note on Friday. Jefferies Group reissued a “buy” rating and set a $41.00 price target on shares of Noble Energy in a research note on Friday. KLR Group boosted their price target on Noble Energy from $9.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Imperial Capital reissued an “outperform” rating and set a $52.00 price target (up previously from $44.00) on shares of Noble Energy in a research note on Wednesday, February 21st. Finally, Deutsche Bank set a $40.00 target price on Noble Energy and gave the company a “buy” rating in a research note on Wednesday, February 21st. Two analysts have rated the stock with a sell rating, three have given a hold rating and nineteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $40.37.
Shares of Noble Energy (NYSE:NBL) traded up $0.57 during trading hours on Monday, hitting $31.23. The stock had a trading volume of 1,191,719 shares, compared to its average volume of 5,806,951. The stock has a market cap of $14,928.44, a price-to-earnings ratio of -13.05 and a beta of 1.14. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.27. Noble Energy has a fifty-two week low of $22.99 and a fifty-two week high of $37.33.
Noble Energy declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 15th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the oil and gas development company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
In other Noble Energy news, CEO David L. Stover purchased 19,000 shares of the business’s stock in a transaction on Monday, December 18th. The stock was bought at an average cost of $26.31 per share, for a total transaction of $499,890.00. Following the acquisition, the chief executive officer now owns 727,254 shares of the company’s stock, valued at approximately $19,134,052.74. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gary W. Willingham purchased 30,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was 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. Insiders own 2.28% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of NBL. Xact Kapitalforvaltning AB increased its holdings in shares of Noble Energy by 14.8% during the 4th quarter. Xact Kapitalforvaltning AB now owns 47,308 shares of the oil and gas development company’s stock worth $1,379,000 after buying an additional 6,105 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Noble Energy by 14.3% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 225,333 shares of the oil and gas development company’s stock worth $6,566,000 after buying an additional 28,191 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in shares of Noble Energy by 45.7% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 28,702 shares of the oil and gas development company’s stock worth $836,000 after buying an additional 9,000 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its holdings in shares of Noble Energy by 17.3% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 275,700 shares of the oil and gas development company’s stock worth $8,034,000 after buying an additional 40,700 shares during the last quarter. Finally, MetLife Investment Advisors LLC acquired a new stake in shares of Noble Energy during the 4th quarter worth $4,387,000. Institutional investors own 94.47% 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.
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