Noble Energy (NBL) is Upgraded by Citigroup to Buy

Noble Energy (NBL) was Upgraded by Citigroup to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. Citigroup advised their investors in a research report released on Jul 7, 2016.

Many Wall Street Analysts have commented on Noble Energy. Company shares were Reiterated by Wunderlich on Jul 6, 2016 to “Buy”, Firm has raised the Price Target to $ 45 from a previous price target of $44 .Noble Energy was Initiated by Credit Agricole to “Outperform” on Jun 22, 2016. Noble Energy was Resumed by Piper Jaffray to “Overweight” on Jun 8, 2016.

On the company’s financial health, Noble Energy reported $-0.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 4, 2016. Analyst had a consensus of $-0.58. The company had revenue of $724.00 million for the quarter, compared to analysts expectations of $826.78 million. The company’s revenue was down -5.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.03 EPS.

Noble Energy closed down -0.61 points or -1.68% at $35.68 with 34,08,208 shares getting traded on Tuesday. Post opening the session at $35.55, the shares hit an intraday low of $35.19 and an intraday high of $35.8 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Jun 27, 2016, Thomas J Edelman (director) sold 12,000 shares at $35.09 per share price. According to the SEC, on Mar 8, 2016, Michael A Cawley (director) sold 7,000 shares at $32.35 per share price. On Jan 28, 2016, Kleef William T Van (director) sold 7,366 shares at $31.37 per share price, according to the Form-4 filing with the securities and exchange commission.

Noble Energy Inc. is an independent energy company engaged in crude oil natural gas and natural gas liquids exploration and production. Its operations are grouped into four components: the United States; West Africa (Equatorial Guinea Cameroon Gabon and Sierra Leone; Eastern Mediterranean (Israel and Cyprus) and Other International and Corporate. Its assets in the United States include DJ Basin Marcellus Shale Deepwater Gulf of Mexico and Other Onshore US. The onshore West Africa includes the Alba field Block O and Block I offshore Equatorial Guinea the YoYo mining concession and Tilapia PSC offshore Cameroon two blocks offshore Sierra Leone and one block offshore Gabon. In the Eastern Mediterranean it has six leases and five licenses operated offshore Israel and one license operated offshore Cyprus. Other International includes various international new ventures such as offshore Nicaragua and offshore Falkland Islands.

Noble Energy

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