Noble Energy (NBL) Received its Third Buy in a Row


After RBC Capital and Credit Suisse gave Noble Energy (NYSE: NBL) a Buy rating last month, the company received another Buy, this time from Jefferies. Analyst Mark Lear reiterated a Buy rating on Noble Energy today and set a price target of $46. The company’s shares closed yesterday at $32.38.

According to TipRanks.com, Lear is a 3-star analyst with an average return of 1.4% and a 49.4% success rate. Lear covers the Basic Materials sector, focusing on stocks such as CNX Resources Corporation, Whiting Petroleum Corp, and Jagged Peak Energy Inc.

Noble Energy has an analyst consensus of Strong Buy, with a price target consensus of $44.40, which is a 37.1% upside from current levels. In a report issued on July 23, Mizuho Securities also initiated coverage with a Buy rating on the stock with a $51 price target.

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Noble Energy’s market cap is currently $15.83B and has a P/E ratio of 17.79. The company has a Price to Book ratio of 1.53.

Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2018, Dustin Hatley, the VP & CAO of NBL sold 4,178 shares for a total of $140,297.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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