Piper Jaffray Companies Analysts Give Noble Energy (NYSE:NBL) a $28.00 Price Target

Piper Jaffray Companies set a $28.00 price objective on Noble Energy (NYSE:NBL) in a research report released on Friday, TipRanks reports. The brokerage currently has a buy rating on the oil and gas development company’s stock.

A number of other research firms have also recently weighed in on NBL. TD Securities dropped their target price on shares of Noble Energy from $33.00 to $32.00 and set a buy rating on the stock in a research note on Monday, May 6th. Morgan Stanley dropped their target price on shares of Noble Energy from $33.00 to $30.00 and set an overweight rating on the stock in a research note on Friday, July 12th. Capital One Financial upgraded shares of Noble Energy from an equal weight rating to an overweight rating in a research note on Thursday, May 23rd. JPMorgan Chase & Co. upgraded shares of Noble Energy from a neutral rating to an overweight rating and boosted their target price for the company from $28.00 to $32.00 in a research note on Monday, April 29th. Finally, Mitsubishi UFJ Financial Group dropped their target price on shares of Noble Energy to $34.00 and set an overweight rating on the stock in a research note on Monday, May 6th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $34.64.

NBL stock traded up $0.95 during trading on Friday, reaching $22.46. The stock had a trading volume of 4,851,412 shares, compared to its average volume of 5,759,504. Noble Energy has a one year low of $17.11 and a one year high of $32.73. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.68. The company’s 50 day moving average is $21.67 and its two-hundred day moving average is $22.97. The company has a market capitalization of $10.15 billion, a price-to-earnings ratio of 24.96 and a beta of 1.41.

Noble Energy (NYSE:NBL) last released its earnings results on Friday, August 2nd. The oil and gas development company reported ($0.10) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.03. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Noble Energy had a negative net margin of 19.93% and a positive return on equity of 0.87%. During the same period in the previous year, the company earned $0.17 earnings per share. As a group, research analysts predict 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. Investors of record on Monday, August 5th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Friday, August 2nd. Noble Energy’s payout ratio is currently 53.33%.

Several hedge funds have recently made changes to their positions in NBL. Boston Partners lifted its stake in shares of Noble Energy by 53.6% during the 1st quarter. Boston Partners now owns 22,144,841 shares of the oil and gas development company’s stock valued at $547,642,000 after buying an additional 7,725,241 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Noble Energy by 23.8% during the 2nd quarter. Invesco Ltd. now owns 20,397,565 shares of the oil and gas development company’s stock valued at $456,904,000 after buying an additional 3,914,966 shares in the last quarter. Frontier Capital Management Co. LLC purchased a new stake in shares of Noble Energy during the 1st quarter valued at approximately $46,274,000. Nuveen Asset Management LLC lifted its stake in shares of Noble Energy by 7,030.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,802,904 shares of the oil and gas development company’s stock valued at $40,385,000 after buying an additional 1,777,621 shares in the last quarter. Finally, Balyasny Asset Management LLC purchased a new stake in shares of Noble Energy during the 2nd quarter valued at approximately $29,064,000. Institutional investors own 98.28% of the company’s stock.

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.

Featured Article: What is a Candlestick Chart?

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.