What’s Noble Energy’s Mean Target Price?
By Rabindra SamantaUpdated
Mean target price
Analysts’ mean target price for Noble Energy (NBL) is ~$32.8, which implies an ~31.5% upside based on its last closing price. In comparison, the target prices for other top S&P 500 upstream holdings including EOG Resources (EOG) and ConocoPhillips (COP) suggest an upside of 23.5% and 14.7%, respectively.
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Noble Energy’s price performance
So far in 2019, Noble Energy stock has risen 33.7%—the fourth-largest gain among the S&P 500 upstream holdings. Noble Energy stock also outperformed oil and the broader market. On a year-to-date basis, the S&P 500 Index (SPY) has risen 13.9%, while US crude oil active futures have risen 32.1%. The factors discussed in the previous part might have boosted Noble Energy’s stock prices.