Noble Energy (NBL) Raised to “Outperform” at Raymond James

Noble Energy (NYSE:NBL) was upgraded by stock analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports.

Several other brokerages have also recently issued reports on NBL. Stifel Nicolaus set a $46.00 price objective on shares of Noble Energy and gave the stock a “buy” rating in a research note on Thursday, November 1st. KLR Group reissued a “buy” rating and issued a $61.00 target price on shares of Noble Energy in a research report on Monday, August 20th. Oppenheimer reissued a “hold” rating on shares of Noble Energy in a research report on Thursday, November 1st. Morgan Stanley set a $38.00 target price on shares of Noble Energy and gave the stock a “hold” rating in a research report on Friday, October 12th. Finally, Bank of America assumed coverage on shares of Noble Energy in a research report on Tuesday, July 10th. They issued a “buy” rating and a $59.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-one have issued a buy rating to the company. Noble Energy presently has a consensus rating of “Buy” and an average price target of $41.96.

Shares of NBL opened at $26.90 on Wednesday. The company has a market capitalization of $12.97 billion, a PE ratio of 86.77, a price-to-earnings-growth ratio of 2.71 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81. Noble Energy has a 12-month low of $23.83 and a 12-month high of $37.76.

Noble Energy (NYSE:NBL) last announced its quarterly earnings data on Thursday, November 1st. The oil and gas development company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.09. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Noble Energy had a net margin of 25.09% and a return on equity of 4.82%. The business’s revenue was up 32.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.02) EPS. As a group, research analysts forecast that Noble Energy will post 1.01 EPS for the current fiscal year.

In related news, major shareholder Nbl Midstream, Llc sold 14,137,198 shares of the business’s stock in a transaction that occurred on Wednesday, September 26th. The shares were sold at an average price of $17.75, for a total transaction of $250,935,264.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.96% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in NBL. Advisors Preferred LLC purchased a new position in Noble Energy during the second quarter valued at approximately $126,000. Whittier Trust Co. purchased a new position in Noble Energy during the second quarter valued at approximately $163,000. Piedmont Investment Advisors LLC purchased a new position in Noble Energy during the second quarter valued at approximately $200,000. Ingalls & Snyder LLC purchased a new position in Noble Energy during the second quarter valued at approximately $202,000. Finally, Chicago Equity Partners LLC purchased a new position in Noble Energy during the second quarter valued at approximately $204,000. 97.43% of the stock is currently owned by hedge funds and other 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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