The Noble Energy, Inc. (NBL) Trading Up -0.7% Following Analyst Upgrade

The Noble Energy, Inc. (NBL) Trading Up -0.7% Following Analyst Upgrade

Shares of Noble Energy, Inc. (NYSE:NBL) rose 0.7% during mid-day trading on Wednesday after Mizuho raised their price target on the stock from $37.00 to $47.00. Mizuho currently has a buy rating on the stock. Noble Energy traded as high as $40.84 and last traded at $39.75, with a volume of 3,424,129 shares. The stock had previously closed at $40.05.

NBL has been the subject of a number of other research reports. Nomura restated a “buy” rating and set a $17.00 target price on shares of Noble Energy in a research note on Monday, September 26th. Vetr upgraded shares of Noble Energy from a “hold” rating to a “strong-buy” rating and set a $44.50 target price for the company in a research note on Monday, December 26th. Jefferies Group restated a “buy” rating and set a $45.00 target price on shares of Noble Energy in a research note on Wednesday, October 19th. Bank of America Corporation restated a “hold” rating on shares of Noble Energy in a research note on Thursday, November 17th. Finally, Instinet raised their target price on shares of Noble Energy from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, December 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-one have given 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 a consensus target price of $42.80.

In related news, VP Susan M. Cunningham sold 68,910 shares of the business’s stock in a transaction on Monday, December 12th. The shares were sold at an average price of $40.36, for a total transaction of $2,781,207.60. Following the transaction, the vice president now owns 245,148 shares in the company, valued at approximately $9,894,173.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Arnold J. Johnson sold 24,505 shares of the business’s stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $42.00, for a total transaction of $1,029,210.00. Following the transaction, the vice president now owns 159,764 shares in the company, valued at approximately $6,710,088. The disclosure for this sale can be found here. Corporate insiders own 2.17% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. bought a new position in Noble Energy during the second quarter worth about $136,000. Penobscot Investment Management Company Inc. bought a new position in Noble Energy during the second quarter worth about $201,000. Carderock Capital Management Inc. bought a new position in Noble Energy during the second quarter worth about $206,000. Mizuho Asset Management Co. Ltd. increased its position in Noble Energy by 129.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 6,183 shares of the oil and gas development company’s stock worth $222,000 after buying an additional 3,485 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in Noble Energy by 5.7% in the second quarter. Pacer Advisors Inc. now owns 6,331 shares of the oil and gas development company’s stock worth $227,000 after buying an additional 344 shares during the last quarter. Institutional investors own 92.82% of the company’s stock.

The stock’s 50-day moving average price is $38.95 and its 200-day moving average price is $36.28. The company’s market cap is $17.06 billion.

Noble Energy Company Profile

Noble Energy, Inc is an independent energy company engaged in crude oil, natural gas and natural gas liquids (NGLs) exploration and production. The Company’s portfolio is diversified between short-term and long-term projects, domestic and international and a balanced production mix among crude oil, natural gas and NGLs.

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