Credit Suisse Maintains Their Buy Rating on Noble Energy

By Carrie Williams

In a report issued on April 12, William Featherston from Credit Suisse maintained a Buy rating on Noble Energy (NYSE: NBL), with a price target of $40. The company’s shares closed yesterday at $32.10.

According to TipRanks.com, Featherston is a 1-star analyst with an average return of -2.6% and a 53.6% success rate. Featherston covers the Basic Materials sector, focusing on stocks such as Anadarko Petroleum, Devon Energy Corp, and Concho Resources.

Currently, the analyst consensus on Noble Energy is Strong Buy and the average price target is $44.33, representing a 38.1% upside.

In a report issued on March 28, Stifel Nicolaus also reiterated a Buy rating on the stock with a $45 price target.

Based on Noble Energy’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $1.14 billion and quarterly net profit of $494 million. In comparison, last year the company earned revenue of $994 million and had a net profit of $36 million.

Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock.

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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.