Noble Energy (NYSE:NBL) had its target price lifted by KLR Group from $9.00 to $65.00 in a research note released on Wednesday. They currently have a buy rating on the oil and gas development company’s stock.
Other equities analysts have also recently issued research reports about the company. Capital One Financial upgraded Noble Energy from an equal weight rating to an overweight rating in a research report on Wednesday, January 10th. Deutsche Bank set a $40.00 target price on Noble Energy and gave the stock a buy rating in a research report on Wednesday. Imperial Capital reiterated an outperform rating and set a $52.00 target price (up previously from $44.00) on shares of Noble Energy in a research report on Wednesday. ValuEngine cut Noble Energy from a hold rating to a sell rating in a research report on Friday, February 2nd. Finally, Credit Suisse Group began coverage on Noble Energy in a research report on Monday, December 11th. They set an outperform rating and a $35.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nineteen have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $39.74.
Noble Energy (NBL) opened at $29.13 on Wednesday. The stock has a market capitalization of $14,178.61, a PE ratio of -12.19 and a beta of 1.14. Noble Energy has a 52-week low of $22.99 and a 52-week high of $37.78. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.95 and a quick ratio of 0.95.
Noble Energy announced that its board has initiated a share repurchase plan on Thursday, February 15th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas development company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, February 26th. Investors of record on Monday, February 12th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Friday, February 9th. Noble Energy’s payout ratio is currently -16.74%.
In related news, CEO David L. Stover bought 19,000 shares of Noble Energy stock in a transaction that occurred on Monday, December 18th. The shares were purchased at an average price of $26.31 per share, with a total value of $499,890.00. Following the purchase, the chief executive officer now owns 727,254 shares in the company, valued at $19,134,052.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kenneth M. Fisher sold 7,621 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $28.80, for a total value of $219,484.80. Following the completion of the sale, the chief financial officer now directly owns 197,144 shares in the company, valued at approximately $5,677,747.20. The disclosure for this sale can be found here. 2.28% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Hexavest Inc. purchased a new position in shares of Noble Energy during the 4th quarter worth $38,964,000. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Noble Energy during the 4th quarter worth $29,414,000. Alliancebernstein L.P. lifted its stake in shares of Noble Energy by 22.4% during the 4th quarter. Alliancebernstein L.P. now owns 3,984,847 shares of the oil and gas development company’s stock worth $116,118,000 after purchasing an additional 728,937 shares during the period. South Dakota Investment Council lifted its stake in shares of Noble Energy by 76.0% during the 3rd quarter. South Dakota Investment Council now owns 1,379,863 shares of the oil and gas development company’s stock worth $39,133,000 after purchasing an additional 595,865 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Noble Energy by 16.2% during the 4th quarter. Bank of New York Mellon Corp now owns 4,258,901 shares of the oil and gas development company’s stock worth $124,105,000 after purchasing an additional 593,180 shares during the period. 94.47% of the stock is currently owned by hedge funds and other institutional investors.
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Noble Energy Company Profile
Noble Energy, Inc is an independent energy company. The Company is engaged in crude oil, natural gas and natural gas and natural gas liquids (NGLs) exploration, development, production and acquisition. The Company’s segments include: United States, including the onshore DJ Basin, Permian Basin, Eagle Ford Shale, Marcellus Shale and offshore deepwater Gulf of Mexico, as well as the consolidated accounts of Noble Midstream Partners LP (Noble Midstream Partners); Eastern Mediterranean, including offshore Israel and Cyprus; West Africa, including offshore Equatorial Guinea, Cameroon and Gabon, and Other International and Corporate, including new ventures, such as offshore the Falkland Islands, Suriname and Newfoundland.
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