Stifel Nicolaus Thinks Noble Energy’s Stock is Going to Recover

By Austin Angelo

Stifel Nicolaus analyst Michael Scialla reiterated a Buy rating on Noble Energy (NYSE: NBL) on May 23 and set a price target of $43. The company’s shares closed yesterday at $29.45, close to its 52-week low of $29.33.

According to, Scialla is ranked 0 out of 5 stars with an average return of -9.7% and a 41.3% success rate. Scialla covers the Basic Materials sector, focusing on stocks such as Sanchez Energy Corporation, Quicksilver Resources Inc, and Abraxas Petroleum Corp.

Currently, the analyst consensus on Noble Energy is Strong Buy and the average price target is $44.67, representing a 51.7% upside.

In a report issued on May 8, Piper Jaffray also initiated coverage with a Buy rating on the stock with a $47 price target.

Based on Noble Energy’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $994 million and quarterly net profit of $36 million. In comparison, last year the company earned revenue of $705 million and had a GAAP net loss of $287 million.

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Noble Energy, Inc. is an independent oil and natural gas exploration and production company. It engages in the acquisition, exploration, and development of oil and gas properties. The company’s products include crude oil, natural gas, and natural gas liquids. Noble Energy was founded by Llyod Noble in 1932 and is headquartered in Houston, TX.