After RBC Capital and Jefferies gave Noble Energy (NYSE: NBL) a Buy rating last month, the company received another Buy, this time from BMO Capital. Analyst Phillip Jungwirth reiterated a Buy rating on Noble Energy today and set a price target of $40. The company’s shares closed yesterday at $32.38.
According to TipRanks.com, Jungwirth is a 4-star analyst with an average return of 7.4% and a 58.0% success rate. Jungwirth covers the Basic Materials sector, focusing on stocks such as HighPoint Resources Corporation, Whiting Petroleum Corp, and Occidental Petroleum.
Currently, the analyst consensus on Noble Energy is a Strong Buy with an average price target of $44.56, which is a 37.6% 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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The company has a one-year high of $37.76 and a one-year low of $22.99. Currently, Noble Energy has an average volume of 4.22M.
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.
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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.
