Noble Energy, Inc. (NYSE:NBL) Stock Declines, Analysts: Hold Rating

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Noble Energy, Inc. (NBL) down -3.02 per cent in the past week, is under coverage of 36 analysts who collectively recommend a hold rating on stock. 21 of the analysts have a buy or better rating; the 0 sells versus 1 underperforms. The 32 equity analysts who rate the stock have an average target price at $39.78, with individual targets ranging between $32 and $51. The shares closed last trade at $35.24, implying that analysts see shares rising about 12.88 per cent in 12 months’ time.

Insider Activity: Insiders look pessimistic about the prospects of the company that they seem to offload shares while they are 7.65 up so far this year. A Director at Noble Energy, Inc. (NBL) sold shares in the company in a transaction completed on Monday March 28, 2016. Edelman Thomas J offloaded 12,000 shares in the company at an average price of $29.69 and ended up generating $356,300 in proceeds. Edelman Thomas J retains 3,856,978 shares in the company after this transaction. A Director in the company, Cawley Michael A, on Monday March 07, 2016 collected $226,500 from the Sell of 7,000 shares at $29.69 each. Insiders are expected to know better about the health and prospects of their company, which is why insiders’ move deserves attention.

Earnings to Watch: Investors considering NBL stock at the going market price of $35.24/share should know the stock will next release quarterly results for the 42537 quarter. For the reporting quarter, analysts expect the company to deliver -$0.35 in earnings per share (EPS). That would represent a -234.62% year-over-year decrease Revenue for the same period is expected to arrive at $823.83M.

Earnings Roundup: In the last fiscal quarter alone, Noble Energy, Inc. generated around $724M in revenue and net income of -$0.53/share. That compares with the consensus estimate $784.47M and -$0.57/share, respectively. For the prior quarter revenue for the company hit $846M, with earnings at $0.44/share.

Analyst Coverage: Tudor Pickering has been a brokerage house following shares of Noble Energy, Inc. (NBL), so its rating change is noteworthy. The stock was downgraded to Hold from Buy, wrote analysts at Tudor Pickering, in a note issued to clients on Monday March 28, 2016. There was another key note issued by Nomura on Thursday January 21, 2016. The firm lifted its rating on NBL from Neutral to Buy.

Price Momentum: Despite the -0.73% decrease in value, the stock’s new closing price represents a -27.48% fall in value from company’s one year high of $46.93. The stock is currently holding above its 50 day moving average of $7.21 and above its 200 day moving average of $33.44. Over the last three months and over the last six months, the shares of Noble Energy, Inc. (NBL), have changed 7.53% and 32.77%, respectively.

 

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