Noble Energy (NBL)
Posted: Tue May 24, 2016 6:26 pm
Noble has posted a new presentation to their website. Check it out at:
http://www.oilandgas360.com/analytics/N ... pdf?a1fb5b
http://www.oilandgas360.com/analytics/N ... pdf?a1fb5b
Noble Energy’s (NBL) rating was raised to ‘buy’ from ‘neutral’ at Sterne Agee on Wednesday morning.
The firm also established a $47 price target on the stock.
"We have long viewed Noble as a great company. We now view NBL shares as a compelling investment, given overblown geopolitical headwinds, operational momentum and attractive valuation amid year-to-date underperformance," Sterne Agee wrote in a note to investors.
Noise around Israeli political "machinations" and the anti-hydrocarbon "crusade" in Colorado is overblown, the firm added.
"Investors should focus on improving drilling economics in the DJ Basin: about $5.3 million extended lateral wells with EURs trending to/above 720 mboe, with more efficiencies to come," Sterne Agee said.