Noble Energy (NBL) Sets New 52-Week Low at $22.18

Noble Energy, Inc. (NYSE:NBL) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $22.18 and last traded at $22.07, with a volume of 162745 shares. The stock had previously closed at $22.71.

Several equities research analysts recently issued reports on the company. Morgan Stanley set a $38.00 price objective on Noble Energy and gave the stock a “hold” rating in a research note on Friday, October 12th. Piper Jaffray Companies reissued an “overweight” rating on shares of Noble Energy in a research note on Friday, September 28th. Oppenheimer assumed coverage on Noble Energy in a research note on Wednesday, October 3rd. They issued a “market perform” rating and a $43.00 price objective for the company. Barclays assumed coverage on Noble Energy in a research note on Wednesday, August 29th. They issued an “underweight” rating and a $33.00 price objective for the company. Finally, KLR Group reissued a “buy” rating and issued a $61.00 price objective on shares of Noble Energy in a research note on Monday, August 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have given a buy rating to the stock. Noble Energy has an average rating of “Buy” and an average target price of $41.46.

The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $10.45 billion, a price-to-earnings ratio of 70.29, a PEG ratio of 2.21 and a beta of 1.10.

Noble Energy (NYSE:NBL) last posted its quarterly earnings results on Thursday, November 1st. The oil and gas development company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.09. Noble Energy had a return on equity of 4.82% and a net margin of 25.09%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the business earned ($0.02) EPS. The business’s quarterly revenue was up 32.6% on a year-over-year basis. On average, sell-side analysts predict that Noble Energy, Inc. will post 0.98 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 19th. Stockholders of record on Monday, November 5th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Friday, November 2nd. Noble Energy’s dividend payout ratio (DPR) is presently 141.94%.

In other news, major shareholder Nbl Midstream, Llc sold 14,137,198 shares of the firm’s stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of $17.75, for a total transaction of $250,935,264.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.96% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of NBL. Nisa Investment Advisors LLC raised its stake in shares of Noble Energy by 1.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 152,805 shares of the oil and gas development company’s stock valued at $4,766,000 after acquiring an additional 1,915 shares in the last quarter. Glen Harbor Capital Management LLC raised its stake in shares of Noble Energy by 5.9% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 36,176 shares of the oil and gas development company’s stock valued at $1,276,000 after acquiring an additional 2,006 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its stake in shares of Noble Energy by 7.2% in the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 32,976 shares of the oil and gas development company’s stock valued at $1,163,000 after acquiring an additional 2,221 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Noble Energy by 4.5% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 53,160 shares of the oil and gas development company’s stock valued at $1,658,000 after acquiring an additional 2,300 shares in the last quarter. Finally, FDx Advisors Inc. raised its stake in shares of Noble Energy by 34.6% in the 3rd quarter. FDx Advisors Inc. now owns 9,926 shares of the oil and gas development company’s stock valued at $310,000 after acquiring an additional 2,553 shares in the last quarter. 98.76% of the stock is owned by institutional investors.

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Noble Energy Company Profile (NYSE:NBL)

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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