Noble Energy Inc. (NYSE:NBL) had its price objective reduced by equities researchers at Barclays PLC from $33.00 to $30.00 in a research note issued to investors on Thursday. The firm currently has an “overweight” rating on the oil and gas development company’s stock. Barclays PLC’s price objective indicates a potential upside of 15.43% from the stock’s current price.
NBL has been the topic of a number of other research reports. BMO Capital Markets set a $33.00 price target on Noble Energy and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Piper Jaffray Companies reduced their price target on Noble Energy from $47.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, September 18th. Scotiabank set a $38.00 price target on Noble Energy and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Morgan Stanley increased their price target on Noble Energy from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. Finally, Seaport Global Securities raised Noble Energy from a “sell” rating to a “neutral” rating and increased their price target for the stock from $23.00 to $26.00 in a research note on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Noble Energy has an average rating of “Buy” and an average target price of $40.52.
Noble Energy (NYSE NBL) traded down $0.68 during mid-day trading on Thursday, reaching $25.99. The company had a trading volume of 6,274,700 shares, compared to its average volume of 5,210,593. Noble Energy has a 12-month low of $22.99 and a 12-month high of $42.03. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.75. The stock has a market cap of $12,650.00, a price-to-earnings ratio of 111.13 and a beta of 1.18.
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In other news, Director Thomas J. Edelman sold 300,000 shares of the 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James E. Craddock sold 18,787 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $28.57, for a total transaction 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 disclosure for this sale can be found here. 2.28% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of NBL. Tower Research Capital LLC TRC bought a new position in shares of Noble Energy during the second quarter worth about $106,000. Massey Quick Simon & CO. LLC bought a new position in Noble Energy in the third quarter worth about $155,000. Global X Management Co. LLC lifted its holdings in Noble Energy by 22.6% in the second quarter. Global X Management Co. LLC now owns 6,993 shares of the oil and gas development company’s stock worth $198,000 after acquiring an additional 1,291 shares during the last quarter. IBM Retirement Fund lifted its holdings in Noble Energy by 50.1% in the second quarter. IBM Retirement Fund now owns 7,142 shares of the oil and gas development company’s stock worth $202,000 after acquiring an additional 2,384 shares during the last quarter. Finally, IndexIQ Advisors LLC bought a new position in Noble Energy in the second quarter worth about $214,000. 91.49% of the stock is currently owned by institutional investors and hedge funds.
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.
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