Noble Energy (NYSE:NBL) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Noble Energy (NYSE:NBL) from a sell rating to a hold rating in a report issued on Thursday morning, ValuEngine reports.

NBL has been the topic of a number of other research reports. KeyCorp initiated coverage on shares of Noble Energy in a research report on Wednesday. They issued a sector weight rating on the stock. JPMorgan Chase & Co. raised shares of Noble Energy from a neutral rating to an overweight rating and lifted their price target for the company from $28.00 to $32.00 in a research report on Monday, April 29th. Barclays raised shares of Noble Energy from an underweight rating to an equal weight rating and lifted their price target for the company from $26.00 to $33.00 in a research report on Tuesday, April 30th. TD Securities dropped their price target on shares of Noble Energy from $33.00 to $32.00 and set a buy rating on the stock in a research report on Monday, May 6th. Finally, Capital One Financial raised shares of Noble Energy from an equal weight rating to an overweight rating in a research report on Thursday, May 23rd. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Noble Energy presently has an average rating of Buy and a consensus target price of $36.66.

Shares of NYSE:NBL traded up $1.50 during trading on Thursday, reaching $21.88. The stock had a trading volume of 12,090,193 shares, compared to its average volume of 4,735,127. Noble Energy has a 52 week low of $17.11 and a 52 week high of $33.50. The stock has a market capitalization of $9.80 billion, a price-to-earnings ratio of 24.31 and a beta of 1.41. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.64 and a quick ratio of 0.64. The firm’s fifty day moving average is $21.44.

Noble Energy (NYSE:NBL) last released its quarterly earnings results on Friday, August 2nd. The oil and gas development company reported ($0.10) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.03. Noble Energy had a negative net margin of 19.63% and a positive return on equity of 2.05%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the firm posted $0.17 earnings per share. On average, equities analysts expect that Noble Energy will post -0.34 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Monday, August 5th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.19%. The ex-dividend date is Friday, August 2nd. Noble Energy’s dividend payout ratio is 53.33%.

A number of institutional investors have recently made changes to their positions in NBL. Nomura Asset Management Co. Ltd. increased its position in Noble Energy by 0.5% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 87,750 shares of the oil and gas development company’s stock worth $2,170,000 after buying an additional 472 shares during the period. Eagle Boston Investment Management Inc. grew its position in Noble Energy by 1.2% in the first quarter. Eagle Boston Investment Management Inc. now owns 42,833 shares of the oil and gas development company’s stock valued at $1,059,000 after acquiring an additional 524 shares during the last quarter. Wealthcare Advisory Partners LLC grew its position in Noble Energy by 24.3% in the first quarter. Wealthcare Advisory Partners LLC now owns 3,071 shares of the oil and gas development company’s stock valued at $76,000 after acquiring an additional 600 shares during the last quarter. Bank of Hawaii grew its position in Noble Energy by 2.8% in the first quarter. Bank of Hawaii now owns 22,692 shares of the oil and gas development company’s stock valued at $561,000 after acquiring an additional 611 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. grew its position in Noble Energy by 0.3% in the first quarter. ZWJ Investment Counsel Inc. now owns 277,925 shares of the oil and gas development company’s stock valued at $6,873,000 after acquiring an additional 726 shares during the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.

About Noble Energy

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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