Morgan Stanley Reaffirms Their Buy Rating on Noble Energy (NBL)

Morgan Stanley analyst Devin McDermott maintained a Buy rating on Noble Energy (NBL) on July 8. The company’s shares closed last Friday at $9.01.

According to, McDermott has 0 stars on 0-5 stars ranking scale with an average return of -7.9% and a 35.6% success rate. McDermott covers the Utilities sector, focusing on stocks such as Continental Resources, Occidental Petroleum, and Concho Resources.

Currently, the analyst consensus on Noble Energy is a Strong Buy with an average price target of $14.00, which is a 63.7% upside from current levels. In a report issued on June 29, UBS also maintained a Buy rating on the stock with a $18.00 price target.

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Based on Noble Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.02 billion and GAAP net loss of $3.96 billion. In comparison, last year the company earned revenue of $1.05 billion and had a GAAP net loss of $313 million.

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Noble Energy, Inc. operates as an exploration and production company. It engages in the acquisition, exploration and development of crude oil and natural gas. The firm 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. The Eastern Mediterranean segment includes Israel and Cyprus. The West Africa segment comprises of Equatorial Guinea, Cameroon, and Gabon. The Other International segment is composed of Newfoundland, Suriname, and other new ventures. The Midstream segment owns, operates, develops, and acquires domestic midstream infrastructure assets with current focus areas being the DJ and Delaware Basins. The company was founded by Lloyd Noble in 1932 and is headquartered in Houston, TX.

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