Nomura Holdings Believes NBL Still Has Room to Grow

By Ryan Adsit

In a report released today, Lloyd Byrne from Nomura Holdings reiterated a Buy rating on Noble Energy (NYSE: NBL), with a price target of $41. The company’s shares opened today at $37.69, close to its 52-week high of $38.62.

According to, Byrne is a 4-star analyst with an average return of 8.6% and a 62.0% success rate. Byrne covers the Basic Materials sector, focusing on stocks such as Diamond Offshore Drilling, Parker Drilling Company, and Whiting Petroleum Corp.

Currently, the analyst consensus on Noble Energy is Strong Buy and the average price target is $43.33, representing a 15.0% upside.

In a report issued on November 1, Jefferies also reiterated a Buy rating on the stock with a $45 price target.

Based on Noble Energy’s latest earnings report from June 30, the company posted quarterly revenue of $823M and quarterly net profit of -$315M. In comparison, last year the company earned revenue of $765M and had a net profit of -$283M.

Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Thomas Edelman, a Director at NBL bought 10,000 shares for a total of $267,500.

Noble Energy, Inc. engages in the acquisition, exploration, and development of oil and gas properties. It operates through the following geographical segments: the United States; West Africa; Eastern Mediterranean; and Other International and Corporate. Its products include crude oil, natural gas, and natural gas liquids. The company was founded by Llyod Noble in 1932 and is headquartered in Houston, TX.