Morgan Stanley Keeps a Buy Rating on Noble Energy (NBL)
Morgan Stanley analyst Devin McDermott maintained a Buy rating on Noble Energy (NBL) today and set a price target of $29.00. The company’s shares closed last Monday at $20.60.
According to TipRanks.com, McDermott is a 3-star analyst with an average return of 3.3% and a 42.0% success rate. McDermott covers the Basic Materials sector, focusing on stocks such as Cheniere Energy Partners LP, Occidental Petroleum, and Cheniere Energy Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Noble Energy with a $30.00 average price target.
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Based on Noble Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.08 billion and GAAP net loss of $10 million. In comparison, last year the company earned revenue of $1.14 billion and had a net profit of $227 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 geographical segments: United States, Eastern Mediterranean, West Africa, Other International and Midstream. The United States segment consists of U.S. onshore and Gulf of Mexico.