Royal Bank of Canada Analysts Give Noble Energy (NBL) a $39.00 Price Target

Noble Energy (NYSE:NBL) has been given a $39.00 price target by equities researchers at Royal Bank of Canada in a note issued to investors on Friday. The firm currently has a “buy” rating on the oil and gas development company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 23.81% from the company’s current price.

NBL has been the subject of a number of other research reports. UBS began coverage on Noble Energy in a report on Wednesday, March 7th. They set a “buy” rating and a $40.00 target price for the company. JPMorgan Chase cut Noble Energy from an “overweight” rating to a “neutral” rating and set a $30.00 target price for the company. in a report on Friday, December 15th. Capital One Financial raised Noble Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, January 10th. Jefferies Group raised Noble Energy from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Wednesday, December 20th. Finally, Deutsche Bank set a $40.00 target price on Noble Energy and gave the company a “buy” rating in a report on Wednesday, February 21st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-one have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $40.90.

Shares of Noble Energy stock opened at $31.50 on Friday. Noble Energy has a 12 month low of $22.99 and a 12 month high of $35.52. The company has a market cap of $15,469.59, a price-to-earnings ratio of 101.61 and a beta of 1.04. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64.



Noble Energy (NYSE:NBL) last announced its earnings results on Tuesday, February 20th. The oil and gas development company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the firm earned $0.26 earnings per share. The business’s revenue was up 18.9% compared to the same quarter last year. equities research analysts anticipate that Noble Energy will post 0.91 EPS for the current fiscal year.

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

In other Noble Energy news, Director James E. Craddock sold 8,500 shares of the firm’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $31.35, for a total transaction of $266,475.00. Following the completion of the sale, the director now owns 93,413 shares of the company’s stock, valued at $2,928,497.55. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kenneth M. Fisher sold 7,621 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $28.80, for a total value of $219,484.80. Following 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 disclosure for this sale can be found here. 1.96% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. Lucas Capital Management increased its stake in Noble Energy by 18.7% during the fourth quarter. Lucas Capital Management now owns 12,700 shares of the oil and gas development company’s stock worth $372,000 after acquiring an additional 2,000 shares during the last quarter. Ellington Management Group LLC increased its stake in Noble Energy by 12.6% during the fourth quarter. Ellington Management Group LLC now owns 17,900 shares of the oil and gas development company’s stock worth $522,000 after acquiring an additional 2,000 shares during the last quarter. Meadow Creek Investment Management LLC increased its stake in Noble Energy by 9.6% during the fourth quarter. Meadow Creek Investment Management LLC now owns 26,124 shares of the oil and gas development company’s stock worth $761,000 after acquiring an additional 2,296 shares during the last quarter. Norinchukin Bank The increased its stake in Noble Energy by 7.4% during the fourth quarter. Norinchukin Bank The now owns 38,906 shares of the oil and gas development company’s stock worth $1,134,000 after acquiring an additional 2,692 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its stake in Noble Energy by 3.5% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 89,581 shares of the oil and gas development company’s stock worth $2,610,000 after acquiring an additional 3,070 shares during the last quarter. 95.64% of the stock is owned by institutional investors.

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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)

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