Noble Energy (NYSE:NBL) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Tuesday, Analyst Ratings News reports. They currently have a $62.00 price target on the stock. Zacks‘ price target would suggest a potential downside of 7.70% from the company’s current price.
NBL has been the subject of a number of other recent research reports. Analysts at FBR Capital Markets reiterated a “top pick” rating on shares of Noble Energy in a research note to investors on Monday, December 23rd. Separately, analysts at Mizuho cut their price target on shares of Noble Energy from $80.00 to $75.00 in a research note to investors on Wednesday, December 18th. They now have a “neutral” rating on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of Noble Energy from $62.00 to $75.00 in a research note to investors on Monday, December 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Noble Energy has a consensus rating of “Buy” and an average target price of $76.17.
Shares of Noble Energy (NYSE:NBL) traded up 0.83% during mid-day trading on Tuesday, hitting $67.725. 869,359 shares of the company’s stock traded hands. Noble Energy has a 52 week low of $50.93 and a 52 week high of $78.01. The stock has a 50-day moving average of $70.44 and a 200-day moving average of $66.82. The company has a market cap of $24.313 billion and a P/E ratio of 22.09.
Noble Energy (NYSE:NBL) last announced its earnings results on Thursday, October 24th. The company reported $0.97 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.95 by $0.02. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the company posted $0.93 earnings per share. The company’s revenue for the quarter was up 38.7% on a year-over-year basis. On average, analysts predict that Noble Energy will post $3.10 earnings per share for the current fiscal year.
Noble Energy, Inc (NYSE:NBL) is an independent energy company engaged in worldwide oil and gas exploration and production.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.