Noble Energy’s (NBL) “Buy” Rating Reaffirmed at Piper Jaffray Companies

Piper Jaffray Companies reissued their buy rating on shares of Noble Energy Inc. (NYSE:NBL) in a report published on Friday. The firm currently has a $35.00 target price on the oil and gas development company’s stock.

Other equities analysts have also recently issued reports about the stock. Citigroup Inc. dropped their price objective on shares of Noble Energy from $45.00 to $38.00 and set a buy rating on the stock in a research note on Friday, July 21st. Royal Bank Of Canada set a $37.00 price objective on shares of Noble Energy and gave the company a buy rating in a research note on Sunday, October 15th. Barclays PLC dropped their price objective on shares of Noble Energy from $33.00 to $30.00 and set an overweight rating on the stock in a research note on Thursday. BMO Capital Markets set a $37.00 price objective on shares of Noble Energy and gave the company a buy rating in a research note on Thursday, August 3rd. Finally, Imperial Capital assumed coverage on shares of Noble Energy in a research note on Thursday, September 28th. They issued an outperform rating and a $40.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $40.64.

Shares of Noble Energy (NBL) traded up $0.16 on Friday, reaching $25.96. 4,015,860 shares of the company’s stock traded hands, compared to its average volume of 5,202,507. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.75. The firm has a market cap of $12,520.00, a PE ratio of 111.13 and a beta of 1.18. Noble Energy has a 12 month low of $22.99 and a 12 month high of $42.03.

Noble Energy (NYSE:NBL) last announced its quarterly earnings data on Monday, October 30th. The oil and gas development company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.11. The company had revenue of $960.00 million for the quarter, compared to analysts’ expectations of $961.61 million. Noble Energy had a negative net margin of 45.85% and a positive return on equity of 1.06%. Noble Energy’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.07) EPS. sell-side analysts anticipate that Noble Energy will post -0.06 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, November 6th will be given a $0.10 dividend. The ex-dividend date is Friday, November 3rd. This represents a $0.40 annualized dividend and a dividend yield of 1.54%. Noble Energy’s dividend payout ratio is presently -10.03%.

In other Noble Energy news, Director James E. Craddock sold 18,787 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $28.57, for a total value of $536,744.59. Following the transaction, the director now directly owns 114,226 shares in the company, valued at approximately $3,263,436.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas J. Edelman sold 300,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $27.83, for a total transaction of $8,349,000.00. The disclosure for this sale can be found here. 2.28% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Capital World Investors lifted its holdings in Noble Energy by 20.8% in the 2nd quarter. Capital World Investors now owns 55,184,801 shares of the oil and gas development company’s stock valued at $1,561,730,000 after purchasing an additional 9,488,951 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Noble Energy by 29.8% in the 2nd quarter. Vanguard Group Inc. now owns 38,933,217 shares of the oil and gas development company’s stock valued at $1,101,810,000 after purchasing an additional 8,933,476 shares in the last quarter. BlackRock Inc. lifted its holdings in Noble Energy by 7.4% in the 2nd quarter. BlackRock Inc. now owns 32,231,480 shares of the oil and gas development company’s stock valued at $912,152,000 after purchasing an additional 2,211,439 shares in the last quarter. State Street Corp lifted its holdings in Noble Energy by 5.7% in the 2nd quarter. State Street Corp now owns 27,225,558 shares of the oil and gas development company’s stock valued at $770,487,000 after purchasing an additional 1,471,064 shares in the last quarter. Finally, Ares Management LLC purchased a new position in Noble Energy in the 2nd quarter valued at about $499,364,000. Institutional investors own 91.49% of the company’s stock.

About Noble Energy

Noble Energy, Inc is an independent energy company. The Company is engaged in crude oil, natural gas and natural gas and natural gas liquids (NGLs) exploration, development, production and acquisition. The Company’s segments include: United States, including the onshore DJ Basin, Permian Basin, Eagle Ford Shale, Marcellus Shale and offshore deepwater Gulf of Mexico, as well as the consolidated accounts of Noble Midstream Partners LP (Noble Midstream Partners); Eastern Mediterranean, including offshore Israel and Cyprus; West Africa, including offshore Equatorial Guinea, Cameroon and Gabon, and Other International and Corporate, including new ventures, such as offshore the Falkland Islands, Suriname and Newfoundland.

Analyst Recommendations for Noble Energy (NYSE:NBL)

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