Noble Midstream Partners LP (NYSE:NBLX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
According to Zacks, “Noble Midstream Partners LP is engaged in crude oil and natural gas exploration and production. Its operating area includes onshore which consists of US DJ Basin, Marcellus Shale, Eagle Ford Shale and Permian Basin as well as offshore in deepwater Gulf of Mexico, Eastern Mediterranean and West Africa. Noble Midstream Partners LP is based in Houston, United States. “
A number of other equities research analysts have also recently issued reports on the company. Johnson Rice started coverage on Noble Midstream Partners in a research note on Friday, March 24th. They issued a “buy” rating on the stock. Barclays PLC set a $55.00 price objective on Noble Midstream Partners and gave the company a “buy” rating in a research note on Tuesday, May 2nd. Scotiabank set a $50.00 price objective on Noble Midstream Partners and gave the company a “buy” rating in a research note on Thursday, June 22nd. Finally, Mizuho cut Noble Midstream Partners from a “buy” rating to a “neutral” rating and set a $51.00 price objective on the stock. in a research note on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $43.45.
Shares of Noble Midstream Partners (NBLX) traded down 1.78% during trading on Wednesday, hitting $44.74. 16,858 shares of the stock traded hands. Noble Midstream Partners has a 1-year low of $26.00 and a 1-year high of $53.29. The stock has a 50 day moving average price of $45.92 and a 200-day moving average price of $46.61. The stock has a market cap of $1.42 billion and a price-to-earnings ratio of 28.77.
Several large investors have recently made changes to their positions in NBLX. FMR LLC boosted its stake in shares of Noble Midstream Partners by 86.1% in the first quarter. FMR LLC now owns 1,368,108 shares of the energy company’s stock valued at $71,251,000 after buying an additional 633,033 shares in the last quarter. HITE Hedge Asset Management LLC boosted its stake in shares of Noble Midstream Partners by 11.4% in the fourth quarter. HITE Hedge Asset Management LLC now owns 535,730 shares of the energy company’s stock valued at $19,286,000 after buying an additional 54,862 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Noble Midstream Partners by 2.1% in the first quarter. Jennison Associates LLC now owns 408,454 shares of the energy company’s stock valued at $21,272,000 after buying an additional 8,278 shares in the last quarter. UBS Group AG boosted its stake in shares of Noble Midstream Partners by 27.6% in the first quarter. UBS Group AG now owns 298,998 shares of the energy company’s stock valued at $15,572,000 after buying an additional 64,741 shares in the last quarter. Finally, Spirit of America Management Corp NY boosted its stake in shares of Noble Midstream Partners by 13.3% in the second quarter. Spirit of America Management Corp NY now owns 288,830 shares of the energy company’s stock valued at $13,113,000 after buying an additional 34,000 shares in the last quarter. Hedge funds and other institutional investors own 92.72% of the company’s stock.
About Noble Midstream Partners
Noble Midstream Partners LP is engaged in owning, operating, developing and acquiring a range of domestic midstream infrastructure assets. The Company’s areas of focus are in the area of Denver-Julesburg (DJ) Basin in Colorado and the Southern Delaware Basin position of the Permian Basin in Texas (Delaware Basin).
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