Morgan Stanley Keeps Their Hold Rating on Noble Energy (NBL)


Morgan Stanley analyst Devin McDermott maintained a Hold rating on Noble Energy (NBL) today and set a price target of $37. The company’s shares opened today at $24.41, close to its 52-week low of $23.68.

According to TipRanks.com, McDermott is a 2-star analyst with an average return of 1.0% and a 35.5% success rate. McDermott covers the Basic Materials sector, focusing on stocks such as Gulfport Energy Corp, Occidental Petroleum, and Range Resources Corp.

Currently, the analyst consensus on Noble Energy is a Moderate Buy with an average price target of $39.71.

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Based on Noble Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.14 billion and net profit of $227 million. In comparison, last year the company earned revenue of $907 million and had a GAAP net loss of $136 million.

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Noble Energy, Inc. engages in the acquisition, exploration, and development of crude oil and natural gas. It operates through the following segments: United States, Eastern Mediterranean, West Africa, Other International, and Midstream. The United States segment consists of U.S. onshore and Gulf of Mexico.

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