Noble Energy Company Profile (NYSE:NBL)

About Noble Energy

Noble Energy logoNoble Energy, Inc. is an independent energy company engaged in crude oil, natural gas and natural gas liquids (NGLs) exploration and production. The Company's portfolio is diversified between short-term and long-term projects, domestic and international and a balanced production mix among crude oil, natural gas and NGLs. The Company operates in over seven core areas, including the DJ Basin (onshore United States), the Marcellus Shale (onshore United States), Eagle Ford Shale (onshore United States), Permian Basin (onshore United States), the deepwater Gulf of Mexico (offshore United States), offshore West Africa and offshore Eastern Mediterranean. Its sanctioned projects include DJ Basin (onshore United States), Marcellus Shale (onshore United States), Eagle Ford Shale (onshore United States), Permian Basin (onshore United States), Gunflint (deepwater Gulf of Mexico) and Tamar Southwest (offshore Israel). Its proved reserves are approximately 1,420 million barrels oil equivalent.

Industry, Sector and Symbol:
  • Sector: Oils/Energy
  • Industry: Independent Oil & Gas
  • Sub-Industry: Oil & Gas Exploration & Production
  • Exchange: NYSE
  • Symbol: NBL
  • CUSIP: 65504410
Key Metrics:
  • Previous Close: $36.78
  • 50 Day Moving Average: $38.65
  • 200 Day Moving Average: $36.95
  • 52-Week Range: $27.85 - $42.03
  • Trailing P/E Ratio: N/A
  • Foreward P/E Ratio: 105.09
  • P/E Growth: -20.04
  • Market Cap: $15.89B
  • Outstanding Shares: 432,027,000
  • Beta: 1.16
  • Net Margins: -28.59%
  • Return on Equity: -2.51%
  • Return on Assets: -1.09%
  • Debt-to-Equity Ratio: 0.80%
  • Current Ratio: 1.82%
  • Quick Ratio: 1.82%
Additional Links:
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Analyst Ratings

Consensus Ratings for Noble Energy (NYSE:NBL) (?)
Ratings Breakdown: 6 Hold Ratings, 19 Buy Ratings
Consensus Rating:Buy (Score: 2.76)
Consensus Price Target: $43.65 (18.68% upside)

Analysts' Ratings History for Noble Energy (NYSE:NBL)
DateFirmActionRatingPrice TargetDetails
2/16/2017WunderlichReiterated RatingBuy$53.00View Rating Details
2/16/2017KLR GroupBoost Price TargetBuy$66.00 -> $67.00View Rating Details
2/15/2017Credit Suisse GroupReiterated RatingBuy$46.00View Rating Details
2/14/2017ScotiabankReiterated RatingHold$46.00View Rating Details
1/23/2017Barclays PLCLower Price TargetOverweight$46.00 -> $44.00View Rating Details
1/18/2017MizuhoBoost Price TargetBuy$37.00 -> $47.00View Rating Details
1/17/2017Seaport Global SecuritiesUpgradeSell -> Neutral$33.00 -> $36.00View Rating Details
1/17/2017Jefferies Group LLCReiterated RatingBuy$46.00View Rating Details
1/11/2017BMO Capital MarketsUpgradeMarket Perform -> Outperform$45.00 -> $50.00View Rating Details
1/4/2017Deutsche Bank AGDowngradeBuy -> Hold$43.00View Rating Details
12/5/2016InstinetBoost Price TargetBuy$41.00 -> $44.00View Rating Details
11/22/2016Wells Fargo & CompanyReiterated RatingHoldView Rating Details
11/17/2016Bank of America CorpReiterated RatingHoldView Rating Details
11/17/2016NomuraReiterated RatingBuy$41.00View Rating Details
9/15/2016Johnson RiceReiterated RatingBuy$19.00 -> $21.00View Rating Details
7/18/2016J P Morgan Chase & CoReiterated RatingBuyView Rating Details
7/7/2016Citigroup Inc.UpgradeNeutral -> BuyView Rating Details
6/8/2016Piper Jaffray CompaniesInitiated CoverageOverweight$48.00View Rating Details
6/8/2016Stifel NicolausBoost Price TargetBuy$37.00 -> $45.00View Rating Details
6/8/2016SimmonsInitiated CoverageOverweight$48.00View Rating Details
5/25/2016Sterne Agee CRTUpgradeNeutral -> Buy$35.33 -> $47.00View Rating Details
5/5/2016Mitsubishi UFJ Financial GroupUpgradeUnderweight -> OverweightView Rating Details
5/5/2016Royal Bank of CanadaBoost Price TargetOutperform$43.00 -> $45.00View Rating Details
3/28/2016Tudor PickeringDowngradeBuy -> HoldView Rating Details
3/3/2016ArgusLower Price TargetBuy$20.00 -> $11.00View Rating Details
2/3/2016GMP SecuritiesInitiated CoverageBuy$39.00View Rating Details
12/14/2015Howard WeilDowngradeSector Outperform -> Sector PerformView Rating Details
12/8/2015Mitsubishi UFJ Financial Group IncReiterated RatingUnderweightView Rating Details
11/30/2015Morgan StanleyReiterated RatingOutperformView Rating Details
11/3/2015MacquarieBoost Price TargetNeutral$36.00 -> $38.00View Rating Details
10/27/2015Cowen and CompanyReiterated RatingTop Pick$52.00View Rating Details
7/2/2015Atlantic SecuritiesDowngradeOverweight -> Neutral$55.00 -> $48.00View Rating Details
6/30/2015Societe GeneraleUpgradeHold -> BuyView Rating Details
6/2/2015Evercore Partners Inc.Initiated CoverageBuy$51.00View Rating Details
6/2/2015Oppenheimer Holdings, Inc.Reiterated RatingMarket PerformView Rating Details
6/1/2015Evercore ISIInitiated CoverageBuy$51.00View Rating Details
5/19/2015Goldman Sachs Group, Inc. (The)Reiterated RatingBuy$54.00 -> $55.00View Rating Details
4/17/2015Wolfe ResearchUpgradePeer Perform -> OutperformView Rating Details
(Data available from 2/24/2015 forward)


Earnings History for Noble Energy (NYSE:NBL)
DateQuarterConsensus EstimateActual EPSRevenue EstimateActual RevenueRelease LinkConference CallDetails
2/13/2017Q416($0.10)$0.26$1.03 billion$1.01 billionViewN/AView Earnings Details
8/3/2016Q216($0.29)($0.24)$909.36 million$847.00 millionViewN/AView Earnings Details
5/4/2016Q116($0.57)($0.53)$800.78 million$724.00 millionViewN/AView Earnings Details
2/17/2016Q415($0.04)$0.44$1.04 billion$846.00 millionViewListenView Earnings Details
11/2/2015Q315($0.15)($0.21)$962.20 million$801.00 millionViewN/AView Earnings Details
8/3/2015Q215$0.06$0.26$885.93 million$730.00 millionViewN/AView Earnings Details
5/5/2015Q115$0.02$0.03$905.75 million$759.00 millionViewN/AView Earnings Details
2/19/2015Q414$0.41$0.38$1.30 billion$1.07 billionViewN/AView Earnings Details
10/28/2014Q314$0.54$0.28$1.34 billion$1.27 billionViewN/AView Earnings Details
7/24/2014Q214$0.77$0.87$1.39 billion$1.38 billionViewN/AView Earnings Details
4/24/2014Q114$0.75$0.82$1.32 billion$1.38 billionViewN/AView Earnings Details
2/6/2014Q413$0.92$0.50$1.31 billion$1.33 billionViewN/AView Earnings Details
10/24/2013Q313$0.95$0.97$1.37 billion$1.39 billionViewN/AView Earnings Details
7/25/2013Q2 2013$0.74$0.69$1.19 billion$1.15 billionViewN/AView Earnings Details
4/25/2013Q1 2013$1.25$1.48$1.09 billion$1.14 billionViewN/AView Earnings Details
2/7/2013Q4 2012$1.15$1.54$1.14 billion$1.17 billionViewN/AView Earnings Details
10/25/2012$1.04$0.93ViewN/AView Earnings Details
7/26/2012$1.03$0.77ViewN/AView Earnings Details
4/26/2012$1.40$1.75ViewN/AView Earnings Details
2/9/2012$1.16$1.18ViewN/AView Earnings Details
10/20/2011$1.01$1.24ViewN/AView Earnings Details
7/28/2011$1.32$1.44ViewN/AView Earnings Details
4/28/2011$1.14$1.35ViewN/AView Earnings Details
2/10/2011$1.01$1.04ViewN/AView Earnings Details
(Data available from 1/1/2011 forward)


Earnings Estimates for Noble Energy (NYSE:NBL)
Current Year EPS Consensus Estimate: $-0.15 EPS
Next Year EPS Consensus Estimate: $0.35 EPS
QuarterNumber of EstimatesLow EstimateHigh EstimateAverage Estimate
Q1 20166($0.67)($0.21)($0.46)
Q2 20165($0.35)($0.23)($0.29)
Q3 20166($0.29)($0.17)($0.24)
Q4 20167($0.21)($0.05)($0.12)
Q1 20175($0.26)($0.03)($0.17)
Q2 20176($0.25)$0.03($0.12)
Q3 20176($0.21)$0.12($0.07)
Q4 20176($0.19)$0.18($0.04)
Q1 20183($0.12)$0.13($0.02)
Q2 20183($0.12)$0.17$0.01
Q3 20182$0.08$0.27$0.18
Q4 20181$0.38$0.38$0.38
(Data provided by Zacks Investment Research)


Current Dividend Information for Noble Energy (NYSE:NBL)
Annual Dividend:$0.40
Dividend Yield:1.09%
Dividend Growth:-9.80% (3 Year Average)
Payout Ratio:-17.24% (Based on Trailing 12 Months of Earnings)
-266.67% (Based on Current Year Consensus EPS Estimate)
114.29% (Based on Next Year Consensus EPS Estimate)

Dividend History for Noble Energy (NYSE:NBL)
AnnouncedPeriodAmountYieldEx-Dividend DateRecord DatePayable Date
(Data available from 1/1/2013 forward)

Insider Trades

Insider Trading History for Noble Energy (NYSE:NBL)
Insider Ownership Percentage: 2.17%
Institutional Ownership Percentage: 93.79%
Transaction DateInsider NameTitleBuy/SellNumber of SharesAverage Share PriceTotal TransactionDetails
2/7/2017Michael A CawleyDirectorSell3,000$39.51$118,530.00View SEC Filing  
1/31/2017David L StoverCEOSell48,610$39.63$1,926,414.30View SEC Filing  
1/9/2017Edward F CoxDirectorSell10,000$37.76$377,600.00View SEC Filing  
12/14/2016Arnold J JohnsonVPSell24,505$42.00$1,029,210.00View SEC Filing  
12/13/2016Kirby L HedrickDirectorSell10,000$41.00$410,000.00View SEC Filing  
12/12/2016Susan M CunninghamVPSell68,910$40.36$2,781,207.60View SEC Filing  
12/9/2016Michael A CawleyDirectorSell10,000$39.46$394,600.00View SEC Filing  
12/1/2016David L StoverCEOSell48,610$40.00$1,944,400.00View SEC Filing  
12/1/2016Gary W WillinghamVPSell15,958$40.00$638,320.00View SEC Filing  
12/1/2016Kleef William T VanDirectorSell10,000$40.00$400,000.00View SEC Filing  
11/2/2016Michael W PutnamVPSell7,480$37.00$276,760.00View SEC Filing  
9/26/2016Thomas J EdelmanDirectorSell12,000$33.62$403,440.00View SEC Filing  
9/14/2016Jeffrey L BerensonDirectorSell10,000$34.05$340,500.00View SEC Filing  
6/24/2016Thomas J EdelmanDirectorSell12,000$35.09$421,080.00View SEC Filing  
3/28/2016Thomas J EdelmanDirectorSell12,000$29.69$356,280.00View SEC Filing  
3/7/2016Michael A CawleyDirectorSell7,000$32.35$226,450.00View SEC Filing  
1/28/2016Kleef William T. VanDirectorSell7,366$31.37$231,071.42View SEC Filing  
1/6/2016Thomas J EdelmanDirectorSell12,000$31.69$380,280.00View SEC Filing  
12/4/2015Molly K WilliamsonDirectorBuy2,456$34.07$83,675.92View SEC Filing  
11/5/2015Kleef William T. VanDirectorSell22,400$37.99$850,976.00View SEC Filing  
11/5/2015Michael W. PutnamVPSell5,984$37.43$223,981.12View SEC Filing  
11/4/2015Thomas J EdelmanDirectorSell14,000$37.84$529,760.00View SEC Filing  
8/14/2015Eric P GrubmanDirectorBuy10,000$36.37$363,700.00View SEC Filing  
1/29/2015Susan M CunninghamVPSell31,160$46.42$1,446,447.20View SEC Filing  
1/16/2015Michael A CawleyDirectorSell19,300$45.14$871,202.00View SEC Filing  
1/5/2015Michael A CawleyDirectorSell700$45.73$32,011.00View SEC Filing  
12/19/2014Thomas J EdelmanDirectorSell12,000$51.19$614,280.00View SEC Filing  
9/24/2014Thomas J EdelmanDirectorSell13,000$70.42$915,460.00View SEC Filing  
6/23/2014Charles D DavidsonCEOSell53,338$79.50$4,240,371.00View SEC Filing  
6/17/2014Thomas J EdelmanDirectorSell9,000$76.02$684,180.00View SEC Filing  
6/12/2014Charles D DavidsonCEOSell104,010$76.03$7,907,880.30View SEC Filing  
6/11/2014Gary W WillinghamVPSell14,432$75.00$1,082,400.00View SEC Filing  
4/29/2014Michael PutnamVPSell3,224$72.51$233,772.24View SEC Filing  
4/28/2014Rodney CookVPSell79,154$72.28$5,721,251.12View SEC Filing  
4/23/2014J. Keith ElliottVPSell6,000$75.07$450,420.00View SEC Filing  
4/23/2014Kleef William VanDirectorSell10,000$75.00$750,000.00View SEC Filing  
2/24/2014Kleef William VanDirectorSell10,000$70.00$700,000.00View SEC Filing  
1/30/2014Susan CunninghamVPSell34,188$63.19$2,160,339.72View SEC Filing  
12/11/2013Michael CawleyDirectorSell20,000$69.49$1,389,800.00View SEC Filing  
12/3/2013J. Keith ElliottVPSell19,434$69.80$1,356,493.20View SEC Filing  
10/31/2013Ted D BrownVPSell13,807$76.01$1,049,470.07View SEC Filing  
10/30/2013John T LewisVPSell4,700$75.83$356,401.00View SEC Filing  
10/16/2013Arnold J JohnsonVPSell7,000$69.50$486,500.00View SEC Filing  
10/16/2013Charles D DavidsonCEOSell15,600$69.50$1,084,200.00View SEC Filing  
9/18/2013Charles DavidsonCEOSell28,015$67.50$1,891,012.50View SEC Filing  
9/18/2013Thomas EdelmanDirectorSell8,000$67.77$542,160.00View SEC Filing  
9/12/2013Rodney CookVPSell5,000$67.00$335,000.00View SEC Filing  
9/10/2013David L StoverCOOSell8,000$65.00$520,000.00View SEC Filing  
9/9/2013Rodney D CookVPSell5,000$64.00$320,000.00View SEC Filing  
9/6/2013Arnold J JohnsonVPSell13,078$63.50$830,453.00View SEC Filing  
9/6/2013Charles D DavidsonCEOSell38,254$63.75$2,438,692.50View SEC Filing  
9/4/2013David StoverCOOSell8,000$62.50$500,000.00View SEC Filing  
6/19/2013Thomas J EdelmanDirectorSell8,000$60.53$484,240.00View SEC Filing  
5/17/2013Andrea Lee RobisonVPSell11,968$120.00$1,436,160.00View SEC Filing  
5/17/2013Charles D DavidsonCEOSell38,254$119.00$4,552,226.00View SEC Filing  
5/17/2013David L StoverCOOSell11,160$120.00$1,339,200.00View SEC Filing  
3/22/2013Thomas J EdelmanDirectorSell10,600$114.16$1,210,096.00View SEC Filing  
(Data available from 1/1/2013 forward)


Latest Headlines for Noble Energy (NYSE:NBL)
DateHeadline logoNoble Energy Breaks Below 200-Day Moving Average - Notable for NBL (NYSE:NBL) - February 24 at 9:16 PM logoWhat Will It Take For Oil To Breakout? (NYSE:NBL) - February 24 at 9:16 PM logoNOBLE ENERGY INC Files SEC form 8-K, Other Events (NYSE:NBL) - February 24 at 9:16 PM
News IconNoble Energy Inc. (NYSE:NBL) Price Target Expected At $46.142 - Transcript Daily (NYSE:NBL) - February 24 at 4:09 PM
News IconTechnical Study: Following Indicators for Noble Energy Inc (NBL) - BVN (NYSE:NBL) - February 24 at 4:09 PM
News IconTaking a Look at the Data Behind Noble Energy, Inc. (NBL) - StockNewsJournal (NYSE:NBL) - February 24 at 4:09 PM logoRice Energy’s 4Q16 Earnings Were Much Better Than Expected (NYSE:NBL) - February 24 at 4:09 PM logoRice Energy’s Revenue Growth and Net Profit Margin Trends (NYSE:NBL) - February 24 at 4:09 PM logoNoble Energy, partners move ahead with $3.75B project (NYSE:NBL) - February 24 at 4:09 PM logoNoble Energy, Inc. : Blog Coverage Noble Energy Sanctions First Phase of its Leviathan Natural Gas Project (NYSE:NBL) - February 24 at 9:11 AM
News IconCommerzbank Aktiengesellschaft FI Buys 4968 Shares of Noble Energy Inc. (NBL) (NYSE:NBL) - February 24 at 9:11 AM logoBlog Coverage Noble Energy Sanctions First Phase of its Leviathan Natural Gas Project (NYSE:NBL) - February 24 at 9:11 AM
News IconNoble Sanctions Leviathan Gas Project Offshore Israel (NYSE:NBL) - February 23 at 6:49 PM logoMean Rating Of Noble Energy Inc. (NYSE:NBL) At $1.87 (NYSE:NBL) - February 23 at 6:49 PM logoWPX Energy (WPX) Q4 Loss Narrower than Expected, Sales Lag (NYSE:NBL) - February 23 at 6:49 PM logoLeviathan partners approve $3.75B final investment decision - Seeking Alpha (NYSE:NBL) - February 23 at 8:36 AM
News IconBuy or Sell? Average Brokerage Ratings on Noble Energy, Inc. (NBL), International Paper Company (IP) - StockNewsJournal (NYSE:NBL) - February 23 at 8:36 AM logoPartners in Israeli Leviathan gas field okay $3.75 bln investment (NYSE:NBL) - February 23 at 8:36 AM logoLeviathan Partners Ratify $3.75 Billion Gas-Development Plan (NYSE:NBL) - February 23 at 8:36 AM logoLeviathan Partners Approve $3.75 Billion Gas-Development Plan (NYSE:NBL) - February 23 at 8:36 AM logoNoble Energy Sanctions Leviathan Project Offshore Israel (NYSE:NBL) - February 23 at 8:35 AM logo6:35 am Noble Energy sanctions the first phase of the Leviathan natural gas project offshore Israel, with first gas targeted for the end of 2019 (NYSE:NBL) - February 23 at 8:35 AM
News IconChart Watch: Following Indicators on Shares of Noble Energy Inc (NBL) - BVN (NYSE:NBL) - February 23 at 12:38 AM
News IconLarge Outflow of Money Witnessed in Noble Energy Inc. - Money Flow Index & Trends (NYSE:NBL) - February 23 at 12:38 AM
News IconNoble Energy Inc. (NYSE:NBL) EPS Projection Set At $0.1625 - Transcript Daily (NYSE:NBL) - February 22 at 6:51 PM
News IconWhat Analysts are Predicting For Noble Energy, Inc. (NBL), Western Digital Corporation (WDC)? - The USA Commerce (NYSE:NBL) - February 22 at 6:51 PM
News IconCompany Watch: Checking the Numbers for Noble Energy Inc (NBL) - SKV News (NYSE:NBL) - February 22 at 8:44 AM
News IconThe Must-Know Technicals As They Stand For Noble Energy, Inc. (NBL) - NY Stock News (NYSE:NBL) - February 22 at 8:44 AM
News IconWhy Analysts put forward these two stocks: Noble Energy, Inc. (NBL), Consolidated Edison, Inc. (ED) - The USA Commerce (NYSE:NBL) - February 22 at 8:44 AM logoNOBLE ENERGY INC Financials (NYSE:NBL) - February 17 at 5:09 PM logoNoble, Barclays Work on $1 Billion Tamar Stake Sale (NYSE:NBL) - February 16 at 6:20 PM logoWhat Analysts Recommend for Noble Energy after Its Earnings (NYSE:NBL) - February 16 at 6:20 PM logoNoble Energy, Inc. :NBL-US: Earnings Analysis: Q4, 2016 By the Numbers : February 15, 2017 (NYSE:NBL) - February 16 at 6:20 PM logoNoble Energy, Inc. :NBL-US: Earnings Analysis: 2016 By the Numbers : February 16, 2017 (NYSE:NBL) - February 16 at 6:20 PM logoHow Long Can The Permian Craze Continue? (NYSE:NBL) - February 16 at 6:20 PM
News IconNoble Energy (NBL) Releases Earnings Results, Beats Expectations By $0.36 EPS (NYSE:NBL) - February 15 at 2:23 AM logoNOBLE ENERGY, INC. (NYSE:NBL) Files An 8-K Results of Operations and Financial Condition (NYSE:NBL) - February 14 at 9:21 PM
News IconThe Noble Energy Inc. (NBL) Shares Sold by Cleararc Capital Inc (NYSE:NBL) - February 14 at 9:21 PM logoNoble Energy (NBL) Q4 2016 Results - Earnings Call Transcript (NYSE:NBL) - February 14 at 9:21 PM
News IconNoble Energy, Inc. (NYSE:NBL) PT Suggests Stock Is Worth Around $46.88 (NYSE:NBL) - February 14 at 9:21 PM logoNoble Energy (NBL) Posts Earnings in Q4, Misses on Revenues (NYSE:NBL) - February 14 at 9:21 PM logoNOBLE ENERGY INC Files SEC form 10-K, Annual Report (NYSE:NBL) - February 14 at 9:21 PM logoTakeaways from Noble Energy’s 4Q16 Earnings (NYSE:NBL) - February 14 at 9:21 PM logoNoble Energy Stock Fell after Its 4Q16 Earnings Release (NYSE:NBL) - February 14 at 9:21 PM logoEdited Transcript of NBL earnings conference call or presentation 14-Feb-17 2:00pm GMT (NYSE:NBL) - February 14 at 9:20 PM logoNoble Energy (NBL) Down Ahead of Anticipated Loss (NYSE:NBL) - February 14 at 12:58 AM logoNoble Energy (NBL) Offers FY17 Guidance (NYSE:NBL) - February 14 at 12:58 AM logoNoble Energy rises after stronger than expected Q4 (NYSE:NBL) - February 13 at 8:00 PM logoNoble Energy Inc Earnings Decline 41% In Q4 (NYSE:NBL) - February 13 at 7:56 PM logoNoble Energy Announces Fourth Quarter And Year-End 2016 Results (NYSE:NBL) - February 13 at 7:56 PM


What is Noble Energy's stock symbol?

Noble Energy trades on the New York Stock Exchange (NYSE) under the ticker symbol "NBL."

How often does Noble Energy pay dividends? What is the dividend yield for Noble Energy?

Noble Energy announced a quarterly dividend on Tuesday, January 24th. Investors of record on Monday, February 6th will be given a dividend of $0.10 per share on Tuesday, February 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Thursday, February 2nd.

Where is Noble Energy's stock going? Where will Noble Energy's stock price be in 2017?

25 brokers have issued 1 year target prices for Noble Energy's stock. Their forecasts range from $11.00 to $67.00. On average, they anticipate Noble Energy's share price to reach $43.65 in the next twelve months.

When will Noble Energy announce their earnings?

Noble Energy is scheduled to release their next quarterly earnings announcement on Tuesday, May, 2nd 2017.

What are analysts saying about Noble Energy stock?

Here are some recent quotes from research analysts about Noble Energy stock:

  • KLR Group analysts commented, "We are increasing our target price $1 to $67 per share driven by a ~5% increase in our 2H/17 volume outlook and lower LOE partly offset by higher gathering & transport expense and G&A." (2/16/2017)
  • Seaport Global Securities analysts commented, "We downgraded NBL on 11/17, stating that a lack of high-quality inventory would force management to either (1) resort to drilling tier 2 or 3 prospects or (2) get more active on the M&A front, and that either scenario would put full-cycle returns at risk. We see that management opted for option number two by paying $3.2B to pick up CWEI's 71K net Southern Delaware acres, equating to $32K-$38K/acre, which comes in above recent Southern Delaware deals in similar proximity (CDEV/Silverback for $20K/acre; FANG/Brigham for $26K/acre); we also note CWEI still has a considerable amount of delineation work to accomplish on the western portion of its acreage (~33% of the position, in our opinion). The price range values existing production of 10 Mboepd at $35K/flowing boepd, with the low end ($32K/acre) based on NBL's $600MM of midstream value, while the high end ($38K/acre) assumes $150MM of midstream value (what we had in our CWEI model). NBL is issuing 55MM shares (13% dilution) and paying $665MM in cash to fund the transaction ' if this was an all-stock deal it would represent a sizable ~17% dilution to NBL shares. With all that said, this was still the right move for NBL, in our opinion, as the transaction should prove to eliminate the "lack of inventory" label, which is all but a death sentence for an E&P company in the eyes of Wall Street. On 11/17, we pegged NBL's US resource inventory of proven formations capable of generating over a 40% IRR at a skinny 1,443 locations; post this transaction, we see this metric improving meaningfully to >2,850 wells, which should ensure at least a decade worth of high quality drilling opportunities. We are upgrading our rating to Neutral (from Sell) and increasing our NAV-based price target to $36 (from $33), largely driven by our updated inventory assumptions; additionally, we are revising our estimates to reflect the acquisition." (1/17/2017)
  • Jefferies Group LLC analysts commented, "NBL announced the acquisition of Clayton Williams Energy (CWEI) for $2.7 B in cash and stock, plus $500 MM in assumed debt. The transaction will more than double NBL’s acreage position in the southern Delaware Basin, which NBL considers the "long-term growth engine" of its U.S. oil portfolio. While the price was not cheap (~$32k per acre), the stacked pay opportunities across much of the acreage and NBL’s plans to accelerate can add value. NBL Announces Acquisition of CWEI: This afternoon, NBL announced the acquisition of Clayton Williams Energy (CWEI) for $3.2 B, which includes 55 MM shares of NBL stock, $665 MM in cash, and the assumption of $500 MM of CWEI debt. NBL intends to retire the assumed CWEI debt. NBL will fund the cash portion of the deal by drawing on its revolver, which was undrawn with a $4 B capacity at the end of 3Q16, though NBL noted plans to generate $1 B+ through portfolio management/optimization" during 2017. NBL believes the deal will be accretive to earnings and cash flow beginning in 2018. Expands Delaware Basin Position: The deal adds 71,000 net acres in Reeves and Ward Counties, 10 mboe/d of current production (70% oil), ~300 miles of gas, oil, and produced water pipelines, and 100,000 net acres in other parts of the Permian (outside of the core). The transaction expands NBL’s position in the southern Delaware Basin to just under ~120,000 net acres and adds ~2,400 gross locations to NBL’s current ~1,825 locations." (1/17/2017)

  • Mizuho analysts commented, "CEO David Stover mentioned "location, location, location" when referencing the acquisition on this morning's call, but we believe "locations" is the better word, as in an increase of 2,400 or more of them in the core of the Delaware Basin. Noble has created a base for a massive Permian growth engine that can self-fund after 2017. Looking to 2018, we see multiple compression from stronger oil growth than previously expected. We expect Leviathan sanctioning news before 4Q earnings, the final news that can crystallize visibility in the diversified growth engine Noble has in place, in our view. PT increases to $48 from $44 on steeper earnings accretion in '18 from Permian acceleration." (1/17/2017)
  • Stifel Nicolaus analysts commented, "NBL is one of the few companies in our peer group generating double-digit production growth this year," analyst Michael Scialla wrote in a note.Scialla, who has a Buy rating on the stock, sees 2016 volumes to increase 15 percent y/y, while discretionary cash flow exceeds capex by more than $300 million. The latter excludes the first half 2016 divestiture proceeds of $743 million or potential future sales.Noting that the company's DJ basin is generating strong returns, Scialla said liquidity and cash should stay above $5 billion and $1 billion, respectively, throughout 2016 as a credit facility with a $4 billion borrowing base remains undrawn.Related Link: Simmons Assumes Overweight Rating, $48 PT On Nobel Energy"We project debt/TTM EBITDA to increase to 3.1x at YE16 from 2.8x at YE15," the analyst highlighted.In addition, the company's first two Delaware Basin wells are significantly outperforming the analyst's 600 MBoe type curve after 30 days of production.The analyst expects Colorado political landscape improves this year. Moreover, Leviathan appears to be taking steps toward sanction, as Israel's government recently added a new clause to its "Natural Gas Framework" (6/8/2016)

Who owns Noble Energy stock?

Noble Energy's stock is owned by a variety of of retail and institutional investors. Top institutional investors include State Street Corp (6.61%), SailingStone Capital Partners LLC (2.09%), FMR LLC (1.94%), Artisan Partners Limited Partnership (1.26%), Dimensional Fund Advisors LP (0.54%) and Franklin Resources Inc. (0.44%). Company insiders that own Noble Energy stock include Arnold J Johnson, David L Stover, Edward F Cox, Eric P Grubman, Gary W Willingham, Jeffrey L Berenson, Kirby L Hedrick, Kleef William T Van, Michael A Cawley, Michael W Putnam, Molly K Williamson, Susan M Cunningham and Thomas J Edelman.

Who sold Noble Energy stock? Who is selling Noble Energy stock?

Noble Energy's stock was sold by a variety of institutional investors in the last quarter, including FMR LLC, SailingStone Capital Partners LLC, Janus Capital Management LLC, Aviva PLC, Caymus Capital Partners L.P., Employees Retirement System of Texas, RidgeWorth Capital Management LLC and Caxton Associates LP. Company insiders that have sold Noble Energy stock in the last year include Arnold J Johnson, David L Stover, Edward F Cox, Gary W Willingham, Jeffrey L Berenson, Kirby L Hedrick, Kleef William T Van, Michael A Cawley, Michael W Putnam, Susan M Cunningham and Thomas J Edelman.

Who bought Noble Energy stock? Who is buying Noble Energy stock?

Noble Energy's stock was acquired by a variety of institutional investors in the last quarter, including State Street Corp, Artisan Partners Limited Partnership, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main, Franklin Resources Inc., Asset Management One Co. Ltd., Key Square Capital Management LLC, DFT Energy LP and A.R.T. Advisors LLC. Company insiders that have bought Noble Energy stock in the last two years include Eric P Grubman and Molly K Williamson.

How do I buy Noble Energy stock?

Shares of Noble Energy can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

How much does a share of Noble Energy stock cost?

One share of Noble Energy stock can currently be purchased for approximately $36.78.

Noble Energy (NYSE:NBL) Chart for Friday, February, 24, 2017

Institutional Ownership Chart

Institutional Ownership by Quarter for Noble Energy (NYSE:NBL)

Earnings History Chart

Earnings by Quarter for Noble Energy (NYSE:NBL)

Dividend History Chart

Dividend Payments by Quarter for Noble Energy (NYSE:NBL)

Last Updated on 2/24/2017 by Staff