Noble Energy (NBL) PT Set at $39.00 by Royal Bank of Canada

Royal Bank of Canada set a $39.00 price objective on Noble Energy (NYSE:NBL) in a report issued on Friday, April 13th. The brokerage currently has a buy rating on the oil and gas development company’s stock.

Other equities analysts have also issued reports about the company. Morgan Stanley boosted their price target on Noble Energy from $36.00 to $39.00 and gave the stock an overweight rating in a research report on Wednesday, January 24th. Credit Suisse Group set a $40.00 price target on Noble Energy and gave the stock a buy rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Jefferies Group set a $38.00 target price on Noble Energy and gave the company a buy rating in a research report on Tuesday, January 30th. Stifel Nicolaus set a $40.00 target price on Noble Energy and gave the company a buy rating in a research report on Monday, January 29th. Finally, Piper Jaffray reaffirmed a buy rating and issued a $41.00 target price on shares of Noble Energy in a research report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-one have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $40.90.

How to Become a New Pot Stock Millionaire

Shares of NBL stock opened at $33.77 on Friday. Noble Energy has a twelve month low of $22.99 and a twelve month high of $34.95. The stock has a market capitalization of $16,621.32, a P/E ratio of 112.57 and a beta of 1.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.27.



Noble Energy (NYSE:NBL) last posted its quarterly earnings results on Tuesday, February 20th. The oil and gas development company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.04 by $0.28. Noble Energy had a positive return on equity of 1.46% and a negative net margin of 26.27%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the business earned $0.26 EPS. The firm’s revenue was up 18.9% on a year-over-year basis. analysts expect that Noble Energy will post 0.98 EPS for the current year.

Noble Energy announced that its Board of Directors has approved a stock repurchase plan on Thursday, February 15th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the oil and gas development company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

In related news, CFO Kenneth M. Fisher sold 7,621 shares of the stock in a transaction dated Monday, February 5th. The stock was 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 of the company’s stock, valued at approximately $5,677,747.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James E. Craddock sold 8,500 shares of the stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $31.35, for a total value of $266,475.00. Following the completion of the sale, the director now directly owns 93,413 shares of the company’s stock, valued at $2,928,497.55. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. lifted its stake in Noble Energy by 3.8% in the 4th quarter. American Century Companies Inc. now owns 8,726,274 shares of the oil and gas development company’s stock worth $254,284,000 after acquiring an additional 321,942 shares in the last quarter. Jennison Associates LLC increased its position in Noble Energy by 3.5% in the 4th quarter. Jennison Associates LLC now owns 8,365,528 shares of the oil and gas development company’s stock worth $243,771,000 after purchasing an additional 286,126 shares during the last quarter. Geode Capital Management LLC increased its position in Noble Energy by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 5,235,837 shares of the oil and gas development company’s stock worth $152,254,000 after purchasing an additional 140,886 shares during the last quarter. OppenheimerFunds Inc. increased its position in Noble Energy by 7.4% in the 4th quarter. OppenheimerFunds Inc. now owns 4,399,822 shares of the oil and gas development company’s stock worth $128,211,000 after purchasing an additional 302,201 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Noble Energy by 16.2% in 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 last quarter. 95.65% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: This report was posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://stocknewstimes.com/2018/04/23/royal-bank-of-canada-analysts-give-noble-energy-nbl-a-39-00-price-target.html.

Noble Energy Company Profile

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.

Analyst Recommendations for Noble Energy (NYSE:NBL)

Receive News & Ratings for Noble Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noble Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply