Noble Energy (NYSE:NBL) PT Set at $28.00 by Piper Jaffray Companies

Noble Energy (NYSE:NBL) has been assigned a $28.00 price objective by stock analysts at Piper Jaffray Companies in a research note issued to investors on Friday, TipRanks reports. The brokerage currently has a “buy” rating on the oil and gas development company’s stock. Piper Jaffray Companies’ target price suggests a potential upside of 24.67% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Barclays raised shares of Noble Energy from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $26.00 to $33.00 in a research note on Tuesday, April 30th. UBS Group set a $34.00 price objective on shares of Noble Energy and gave the stock a “buy” rating in a research note on Thursday, May 16th. Wells Fargo & Co boosted their price objective on shares of Noble Energy from $26.00 to $28.00 and gave the stock a “market perform” rating in a research note on Monday, August 12th. TD Securities dropped their price objective 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. Finally, JPMorgan Chase & Co. raised shares of Noble Energy from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $28.00 to $32.00 in a research note on Monday, April 29th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $34.64.

NYSE:NBL traded up $0.95 during mid-day trading on Friday, hitting $22.46. 4,851,412 shares of the company’s stock were exchanged, 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 debt-to-equity ratio of 0.68, a current ratio of 0.59 and a quick ratio of 0.59. The business has a fifty day moving average price of $21.67 and a 200 day moving average price of $22.97. The company has a market cap of $10.15 billion, a PE ratio of 24.96 and a beta of 1.41.

Noble Energy (NYSE:NBL) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas development company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.03. Noble Energy had a negative net margin of 19.93% and a positive return on equity of 0.87%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the firm posted $0.17 earnings per share. On average, equities analysts forecast that Noble Energy will post -0.34 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NBL. Dimensional Fund Advisors LP boosted its stake in Noble Energy by 9.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,173,152 shares of the oil and gas development company’s stock valued at $115,802,000 after purchasing an additional 528,212 shares during the period. Geode Capital Management LLC raised its holdings in Noble Energy by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 6,154,920 shares of the oil and gas development company’s stock valued at $115,261,000 after acquiring an additional 425,920 shares in the last quarter. Retirement Systems of Alabama raised its holdings in Noble Energy by 1.1% in the 1st quarter. Retirement Systems of Alabama now owns 225,178 shares of the oil and gas development company’s stock valued at $5,569,000 after acquiring an additional 2,382 shares in the last quarter. Raymond James Trust N.A. acquired a new position in Noble Energy in the 1st quarter valued at approximately $287,000. Finally, Gulf International Bank UK Ltd raised its holdings in Noble Energy by 2.8% in the 1st quarter. Gulf International Bank UK Ltd now owns 123,317 shares of the oil and gas development company’s stock valued at $3,049,000 after acquiring an additional 3,400 shares in the last quarter. 98.28% of the stock is owned by hedge funds and other institutional investors.

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. The company owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins.

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Analyst Recommendations for Noble Energy (NYSE:NBL)

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