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

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

Noble Energy Inc. (NYSE:NBL)’s share price shot up 0.7% during 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 changing hands. The stock had previously closed at $40.05.

Other equities analysts have also recently issued reports about the company. KLR Group reiterated a “buy” rating and set a $67.00 target price (up from $55.00) on shares of Noble Energy in a research note on Wednesday, December 7th. Seaport Global Securities cut Noble Energy from a “neutral” rating to a “sell” rating and reduced their target price for the company from $45.00 to $38.00 in a research note on Tuesday, December 6th. Vetr cut Noble Energy from a “buy” rating to a “hold” rating and set a $41.00 target price for the company. in a research note on Tuesday, December 13th. Wells Fargo & Co. restated a “hold” rating on shares of Noble Energy in a research note on Tuesday, November 22nd. Finally, Nomura restated a “buy” rating and set a $41.00 price objective on shares of Noble Energy in a research note on Monday, November 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $42.80.

In other Noble Energy news, VP Michael W. Putnam sold 7,480 shares of the firm’s stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $37.00, for a total transaction of $276,760.00. Following the completion of the sale, the vice president now directly owns 34,216 shares in the company, valued at approximately $1,265,992. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Arnold J. Johnson sold 24,505 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $42.00, for a total value of $1,029,210.00. Following the sale, the vice president now owns 159,764 shares of the company’s stock, valued at $6,710,088. The disclosure for this sale can be found here. Insiders have sold a total of 205,463 shares of company stock valued at $8,252,098 over the last 90 days. Corporate insiders own 2.17% of the company’s stock.

Several large investors have recently bought and sold shares of NBL. Northern Trust Corp increased its stake in Noble Energy by 1.1% in the third quarter. Northern Trust Corp now owns 4,912,477 shares of the oil and gas development company’s stock worth $175,572,000 after buying an additional 55,629 shares during the period. DnB Asset Management AS increased its stake in Noble Energy by 1,977.1% in the third quarter. DnB Asset Management AS now owns 759,044 shares of the oil and gas development company’s stock worth $27,128,000 after buying an additional 722,500 shares during the period. BP PLC purchased a new stake in Noble Energy during the second quarter worth $1,972,000. Macquarie Group Ltd. increased its stake in Noble Energy by 1,369.6% in the second quarter. Macquarie Group Ltd. now owns 214,560 shares of the oil and gas development company’s stock worth $7,696,000 after buying an additional 199,960 shares during the period. Finally, BlackRock Group LTD increased its stake in Noble Energy by 13.1% in the third quarter. BlackRock Group LTD now owns 5,073,604 shares of the oil and gas development company’s stock worth $181,332,000 after buying an additional 588,316 shares during the period. 92.82% of the stock is owned by institutional investors.

The firm has a 50 day moving average price of $39.10 and a 200-day moving average price of $36.30. The stock’s market capitalization is $17.32 billion.

About Noble Energy

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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