Stock of The Day: Will Noble Energy, Inc. Run Out of Steam Soon?

Stock of The Day: Will Noble Energy, Inc. Run Out of Steam Soon?

The stock of Noble Energy, Inc. (NYSE:NBL) hit a new 52-week high and has $40.04 target or 3.00% above today’s $38.87 share price. The 8 months bullish chart indicates low risk for the $18.38B company. The 1-year high was reported on Dec, 1 by If the $40.04 price target is reached, the company will be worth $551.40M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 1.86% or $0.71 on December 1, hitting $38.87. About 5.25 million shares traded hands or 24.70% up from the average. Noble Energy, Inc. (NYSE:NBL) has risen 6.74% since April 28, 2016 and is uptrending. It has outperformed by 0.82% the S&P500.

Analysts await Noble Energy, Inc. (NYSE:NBL) to report earnings on February, 15. They expect $-0.10 EPS, down 122.73% or $0.54 from last year’s $0.44 per share. After $-0.07 actual EPS reported by Noble Energy, Inc. for the previous quarter, Wall Street now forecasts 42.86% negative EPS growth.

Noble Energy, Inc. (NYSE:NBL) Ratings Coverage

Out of 21 analysts covering Noble Energy Inc. (NYSE:NBL), 15 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 71% are positive. Noble Energy Inc. has been the topic of 42 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Noble Energy, Inc. (NYSE:NBL) earned “Overweight” rating by Simmons & Co on Wednesday, June 8. The stock of Noble Energy, Inc. (NYSE:NBL) has “Outperform” rating given on Tuesday, August 4 by RBC Capital Markets. On Wednesday, December 16 the stock rating was downgraded by Argus Research to “Hold”. The stock of Noble Energy, Inc. (NYSE:NBL) earned “Buy” rating by Mizuho on Friday, October 14. The firm has “Overweight” rating given on Wednesday, August 5 by Barclays Capital. As per Tuesday, June 7, the company rating was upgraded by Seaport Global. UBS maintained it with “Buy” rating and $41 target price in Tuesday, November 3 report. Barclays Capital maintained the stock with “Overweight” rating in Thursday, July 14 report. The stock has “Overweight” rating given by Piper Jaffray on Wednesday, June 8. Deutsche Bank upgraded the stock to “Buy” rating in Thursday, January 7 report.

According to Zacks Investment Research, “Noble Energy, the parent company of Samedan Oil Corporation, Noble Gas Marketing, Inc. and Noble Trading, Inc., is one of the nation’s leading independent energy companies. Noble Energy operates throughout major basins in the United Stated including the Gulf of Mexico, as well as internationally, in Argentina, China, Ecuador, Equatorial Guinea, the Mediterranean Sea, the North Sea and Vietnam.”

Insitutional Activity: The institutional sentiment increased to 1.11 in 2016 Q2. Its up 0.09, from 1.02 in 2016Q1. The ratio is positive, as 46 funds sold all Noble Energy, Inc. shares owned while 170 reduced positions. 56 funds bought stakes while 165 increased positions. They now own 401.25 million shares or 1.78% less from 408.52 million shares in 2016Q1.
Tph Asset Ltd Liability reported 99,187 shares or 0.35% of all its holdings. Ontario Teachers Pension Plan Board has 0.74% invested in the company for 1.84 million shares. Fifth Third National Bank & Trust, a Ohio-based fund reported 2,871 shares. Moreover, Primecap Mngmt Ca has 0.09% invested in Noble Energy, Inc. (NYSE:NBL) for 2.30M shares. The New York-based Metropolitan Life Ins Company has invested 0.06% in Noble Energy, Inc. (NYSE:NBL). Gulf Interest National Bank & Trust (Uk) Limited last reported 0.08% of its portfolio in the stock. Oregon Public Employees Retirement Fund reported 75,020 shares or 0.06% of all its holdings. Employees Retirement Association Of Colorado holds 0.03% or 93,141 shares in its portfolio. Westpac has 0% invested in the company for 29,078 shares. Moreover, Fjarde Ap has 0.09% invested in Noble Energy, Inc. (NYSE:NBL) for 103,374 shares. Texan Cap Management holds 0.47% of its portfolio in Noble Energy, Inc. (NYSE:NBL) for 28,495 shares. Blair William Il holds 0.01% or 37,004 shares in its portfolio. Zwj Investment Counsel accumulated 216,209 shares or 0.78% of the stock. Engineers Gate Manager L P accumulated 22,700 shares or 0.06% of the stock. Kingdon Lc accumulated 2.52% or 1.28 million shares.

Insider Transactions: Since August 12, 2016, the stock had 0 insider buys, and 5 insider sales for $2.45 million net activity. Another trade for 12,000 shares valued at $403,440 was sold by EDELMAN THOMAS J. 7,918 Noble Energy, Inc. (NYSE:NBL) shares with value of $277,219 were sold by Gerhart Terry R.. 7,480 Noble Energy, Inc. (NYSE:NBL) shares with value of $276,760 were sold by Putnam Michael W.. On Wednesday, September 14 the insider BERENSON JEFFREY L sold $340,500. Shares for $1.15 million were sold by Craddock James E on Friday, August 12.

Another recent and important Noble Energy, Inc. (NYSE:NBL) news was published by which published an article titled: “More layoffs at Noble Energy in Colorado, Texas” on November 09, 2016.

NBL Company Profile

Noble Energy, Inc., incorporated on December 29, 1969, is an independent energy firm 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. The Firm operates in approximately seven core areas, including the DJ Basin (onshore United States), the Marcellus Shale (onshore United States), Eagle Ford Shale (onshore United States), Permian Basin (onshore United States), the deepwater Gulf of Mexico (offshore United States), offshore West Africa and offshore Eastern Mediterranean. The Company’s sanctioned projects include DJ Basin (onshore United States), Marcellus Shale (onshore United States), Eagle Ford Shale (onshore United States), Permian Basin (onshore United States), Gunflint (deepwater Gulf of Mexico) and Tamar Southwest (offshore Israel). The Company’s activities are grouped into approximately four components that are all primarily in the business of crude oil, natural gas and NGL exploration, development, production and acquisition: the United States; West Africa (Equatorial Guinea, Cameroon and Gabon); Eastern Mediterranean (Israel and Cyprus), and Other International and Corporate. Other International includes the Falkland Islands, Suriname, the North Sea and China, and new ventures. The Company’s proved reserves are approximately 1,420 million barrels oil equivalent.

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