Several other analysts also recently weighed in on the stock. Piper Jaffray Companies restated an overweight rating on shares of Noble Energy in a research report on Friday, September 28th. Morgan Stanley set a $38.00 price objective on shares of Noble Energy and gave the stock a hold rating in a research report on Friday, October 12th. Oppenheimer initiated coverage on shares of Noble Energy in a research report on Wednesday, October 3rd. They set a market perform rating and a $43.00 price objective for the company. KLR Group restated a buy rating and set a $61.00 price objective on shares of Noble Energy in a research report on Monday, August 20th. Finally, Citigroup reduced their price objective on shares of Noble Energy from $44.00 to $42.00 and set a buy rating for the company in a research report on Monday, August 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the company. Noble Energy currently has a consensus rating of Buy and an average target price of $41.40.
NYSE NBL traded down $0.06 on Friday, hitting $23.78. 8,575,560 shares of the stock were exchanged, compared to its average volume of 5,551,302. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.58. Noble Energy has a fifty-two week low of $23.22 and a fifty-two week high of $37.76. The stock has a market capitalization of $11.44 billion, a PE ratio of 76.71, a price-to-earnings-growth ratio of 2.43 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 EPS for the quarter, topping the consensus estimate of $0.18 by $0.09. Noble Energy had a net margin of 25.09% and a return on equity of 4.82%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business posted ($0.02) EPS. The firm’s revenue was up 32.6% on a year-over-year basis. On average, equities research analysts expect that Noble Energy will post 0.98 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 19th. Shareholders of record on Monday, November 5th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, November 2nd. This represents a $0.44 annualized dividend and a yield of 1.85%. Noble Energy’s dividend payout ratio is currently 141.94%.
In other Noble Energy news, major shareholder Nbl Midstream, Llc sold 14,137,198 shares of the business’s stock in a transaction on Wednesday, September 26th. The shares were sold at an average price of $17.75, for a total value of $250,935,264.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.96% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue increased its stake in Noble Energy by 4.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 112,759 shares of the oil and gas development company’s stock valued at $3,515,000 after buying an additional 4,867 shares during the period. Bank of Montreal Can grew its stake in shares of Noble Energy by 29.3% during the 3rd quarter. Bank of Montreal Can now owns 216,958 shares of the oil and gas development company’s stock worth $6,767,000 after purchasing an additional 49,206 shares during the period. Putnam Investments LLC grew its stake in shares of Noble Energy by 28.1% during the 2nd quarter. Putnam Investments LLC now owns 151,413 shares of the oil and gas development company’s stock worth $5,342,000 after purchasing an additional 33,248 shares during the period. American Century Companies Inc. grew its stake in shares of Noble Energy by 1.6% during the 2nd quarter. American Century Companies Inc. now owns 7,460,070 shares of the oil and gas development company’s stock worth $263,191,000 after purchasing an additional 119,166 shares during the period. Finally, CIBC World Markets Inc. grew its stake in shares of Noble Energy by 50.0% during the 2nd quarter. CIBC World Markets Inc. now owns 19,206 shares of the oil and gas development company’s stock worth $678,000 after purchasing an additional 6,404 shares during the period. 98.77% of the stock is currently owned by institutional investors.
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.
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