Noble Energy, Inc. (NYSE:NBL) has been given a consensus rating of “Buy” by the twenty-nine research firms that are presently covering the company, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation and twenty have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $41.52.

A number of analysts have commented on NBL shares. KLR Group reaffirmed a “buy” rating and set a $61.00 target price on shares of Noble Energy in a report on Monday. Stifel Nicolaus set a $40.00 target price on shares of Noble Energy and gave the stock a “buy” rating in a report on Friday, August 3rd. Tudor Pickering lowered shares of Noble Energy from a “buy” rating to a “hold” rating in a report on Friday, June 8th. Morgan Stanley started coverage on shares of Noble Energy in a report on Thursday, July 12th. They set an “equal weight” rating and a $39.00 target price for the company. Finally, Bank of America started coverage on shares of Noble Energy in a report on Tuesday, July 10th. They set a “buy” rating and a $59.00 target price for the company.

In related news, major shareholder Nbl Midstream, Llc sold 7,475,000 shares of the business’s stock in a transaction on Friday, June 29th. The shares were sold at an average price of $18.03, for a total value of $134,774,250.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Gary W. Willingham sold 24,646 shares of the business’s stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $37.50, for a total transaction of $924,225.00. Following the completion of the sale, the vice president now directly owns 194,640 shares in the company, valued at $7,299,000. The disclosure for this sale can be found here. Insiders own 1.96% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Park National Corp OH bought a new stake in Noble Energy in the 2nd quarter valued at $2,455,000. James Investment Research Inc. bought a new stake in Noble Energy during the 2nd quarter worth about $2,101,000. Artisan Partners Limited Partnership lifted its position in Noble Energy by 95.1% during the 1st quarter. Artisan Partners Limited Partnership now owns 15,854,643 shares of the oil and gas development company’s stock worth $480,396,000 after buying an additional 7,730,137 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Noble Energy by 10.0% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 247,889 shares of the oil and gas development company’s stock worth $7,511,000 after buying an additional 22,556 shares in the last quarter. Finally, Adams Natural Resources Fund Inc. lifted its position in Noble Energy by 257.8% during the 2nd quarter. Adams Natural Resources Fund Inc. now owns 190,700 shares of the oil and gas development company’s stock worth $6,728,000 after buying an additional 137,400 shares in the last quarter. 98.46% of the stock is currently owned by institutional investors and hedge funds.

NBL opened at $29.55 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.76 and a quick ratio of 0.76. Noble Energy has a 52 week low of $22.99 and a 52 week high of $37.76. The firm has a market cap of $13.88 billion, a price-to-earnings ratio of 95.32, a price-to-earnings-growth ratio of 2.84 and a beta of 1.07.

Noble Energy (NYSE:NBL) last released its earnings results on Friday, August 3rd. The oil and gas development company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.05). Noble Energy had a return on equity of 2.89% and a net margin of 19.01%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the firm posted $0.05 EPS. Noble Energy’s revenue was up 16.1% on a year-over-year basis. equities analysts expect that Noble Energy will post 1.01 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 20th. Investors of record on Monday, August 6th were given a $0.11 dividend. The ex-dividend date was Friday, August 3rd. This represents a $0.44 annualized dividend and a yield of 1.49%. Noble Energy’s dividend payout ratio is currently 141.94%.

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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Analyst Recommendations for Noble Energy (NYSE:NBL)

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