NEW YORK (TheStreet) -- Shares of Noble Energy (NBL - Get Report) are falling 0.30% to $36.76 this afternoon after CSLA initiated coverage of the stock earlier today with an "outperform" rating and a $42 target price.
The company, based in Houston, is a producer and explorer in the crude oil, natural gas and natural gas liquids (NGLs) market.
CLSA's coverage and positive rating of Noble Energy come in the face of large capital expenditure cuts across the oil industry. Despite major capex cuts, the firm is confident that Noble Energy will stay resilient.
The company also offers a balanced mix of both geography and commodity exposure, CSLA noted. In addition, Noble Energy's presence in the Denver-Julesberg (DJ) Basin has attracted analysts.
Separately, TheStreet Ratings rated Noble Energy stock as a "sell" with a ratings score of D. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, weak operating cash flow, disappointing return on equity, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: NBL