Noble Energy (NYSE:NBL) PT Raised to $18.00

Noble Energy (NYSE:NBL) had its target price lifted by stock analysts at UBS Group from $11.00 to $18.00 in a research note issued on Monday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the oil and gas development company’s stock. UBS Group’s target price points to a potential upside of 100.89% from the company’s previous close.

NBL has been the topic of a number of other research reports. Barclays raised their price target on shares of Noble Energy from $8.00 to $11.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. Credit Suisse Group raised their price target on shares of Noble Energy from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Mizuho lifted their target price on shares of Noble Energy from $12.00 to $14.00 in a research note on Friday, June 19th. Piper Sandler lowered shares of Noble Energy from an “overweight” rating to a “neutral” rating and cut their target price for the company from $30.00 to $7.00 in a research note on Tuesday, March 24th. Finally, Raymond James lowered shares of Noble Energy from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 17th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $19.07.

NBL stock opened at $8.96 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.55 and a current ratio of 0.55. Noble Energy has a 52 week low of $2.73 and a 52 week high of $27.31. The firm’s fifty day moving average is $9.84 and its 200 day moving average is $13.88. The firm has a market cap of $4.30 billion, a P/E ratio of 9.96 and a beta of 1.43.

Noble Energy (NYSE:NBL) last released its earnings results on Friday, May 8th. The oil and gas development company reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.15. Noble Energy had a negative net margin of 25.33% and a negative return on equity of 0.82%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the firm earned ($0.09) EPS. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. As a group, analysts forecast that Noble Energy will post -0.41 EPS for the current year.

A number of institutional investors have recently modified their holdings of the business. State Street Corp raised its holdings in Noble Energy by 13.6% in the first quarter. State Street Corp now owns 28,188,569 shares of the oil and gas development company’s stock worth $170,259,000 after buying an additional 3,368,604 shares during the last quarter. Royal Bank of Canada raised its holdings in Noble Energy by 529.7% in the first quarter. Royal Bank of Canada now owns 444,156 shares of the oil and gas development company’s stock worth $2,683,000 after buying an additional 373,624 shares during the last quarter. AXA raised its holdings in shares of Noble Energy by 9.5% during the first quarter. AXA now owns 61,637 shares of the oil and gas development company’s stock valued at $372,000 after purchasing an additional 5,353 shares during the last quarter. Optimal Asset Management Inc. raised its holdings in shares of Noble Energy by 104.2% during the first quarter. Optimal Asset Management Inc. now owns 39,072 shares of the oil and gas development company’s stock valued at $236,000 after purchasing an additional 19,939 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its holdings in shares of Noble Energy by 6.2% during the first quarter. Public Employees Retirement Association of Colorado now owns 70,556 shares of the oil and gas development company’s stock valued at $426,000 after purchasing an additional 4,109 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

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. The company owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins.

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Analyst Recommendations for Noble Energy (NYSE:NBL)

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