Brokerages Set Noble Energy, Inc. (NBL) PT at $38.50

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Noble Energy, Inc. (NYSE:NBL) has earned an average rating of “Buy” from the twenty-four brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and nineteen have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $38.50.

A number of equities analysts have commented on the stock. Capital One Financial upgraded shares of Noble Energy from an “equal weight” rating to an “overweight” rating in a research note on Thursday. UBS Group set a $34.00 target price on shares of Noble Energy and gave the stock a “buy” rating in a research note on Thursday, May 16th. Morgan Stanley set a $35.00 target price on shares of Noble Energy and gave the stock a “buy” rating in a research note on Thursday, May 16th. Mitsubishi UFJ Financial Group dropped their target price on shares of Noble Energy to $34.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Finally, TD Securities dropped their target price on shares of Noble Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, May 6th.

In other news, Director James E. Craddock sold 9,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $23.62, for a total transaction of $212,580.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.81% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Noble Energy by 0.3% during the first quarter. BlackRock Inc. now owns 33,299,281 shares of the oil and gas development company’s stock valued at $823,491,000 after purchasing an additional 103,574 shares in the last quarter. Boston Partners lifted its position in Noble Energy by 53.6% during the first quarter. Boston Partners now owns 22,144,841 shares of the oil and gas development company’s stock valued at $547,642,000 after acquiring an additional 7,725,241 shares during the last quarter. FMR LLC lifted its position in Noble Energy by 15.7% during the fourth quarter. FMR LLC now owns 18,352,750 shares of the oil and gas development company’s stock valued at $344,298,000 after acquiring an additional 2,491,587 shares during the last quarter. Wellington Management Group LLP lifted its position in Noble Energy by 176.8% during the first quarter. Wellington Management Group LLP now owns 12,976,678 shares of the oil and gas development company’s stock valued at $320,913,000 after acquiring an additional 8,288,989 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Noble Energy by 7.7% during the fourth quarter. American Century Companies Inc. now owns 9,609,157 shares of the oil and gas development company’s stock valued at $180,268,000 after acquiring an additional 686,182 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Noble Energy stock opened at $21.70 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market capitalization of $10.38 billion, a P/E ratio of 24.11 and a beta of 1.38. Noble Energy has a 1-year low of $17.11 and a 1-year high of $37.76.

Noble Energy (NYSE:NBL) last issued its earnings results on Friday, May 3rd. The oil and gas development company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.01). The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1 billion. Noble Energy had a positive return on equity of 2.05% and a negative net margin of 19.63%. Noble Energy’s revenue was down 18.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 earnings per share. Sell-side analysts expect that Noble Energy will post 0.08 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 6th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 3rd. This is an increase from Noble Energy’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.21%. Noble Energy’s dividend payout ratio (DPR) is currently 53.33%.

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. The company owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins.

See Also: Current Ratio

Analyst Recommendations for Noble Energy (NYSE:NBL)

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