Morningstar Rating

Stock Research and Analysis

by Stephen Simko, CFA

Bulls Say

Noble is seemingly good at everything: The company has a done a good job in the shales, exploration results are strong, and execution on large offshore projects has been impressive. This is a top-tier E&P.
Noble owns attractive resources in multiple countries, providing the company with ample geographic diversification should any of its assets be affected by operational issues or political concerns.
Future cash flows should double by 2018 as a host of new growth projects are brought on line. Read more 

Bears Say

Noble’s gas discoveries are both huge and economic, but the specter of Israeli politics is likely to remain for some time.
Noble has set very aggressive growth targets for the next few years, including 18% annual production growth. Though its targets are achievable, they nonetheless will require continued top-tier execution for a long period of time.
North American natural gas remains a material portion of Noble’s resource portfolio, and weak pricing can materially affect the company’s cash flows. Read more 

Management

Overall, we think Noble has been a great steward of shareholder capital in recent years. Charles Davidson joined Noble Energy as president and CEO in 2000 and became chairman in 2001. Davidson brought more than 30 years of industry experience, most   Read more 

Profile

Noble Energy is an oil and gas producer focused in the United States, Equatorial Guinea, and Israel. In the U.S., Noble operates in the Gulf of Mexico and onshore in the   Read more 

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