Noble Energy, Inc. (NBL) was a big mover last session, as the company saw its shares rise almost 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company as the stock is now trading above the volatile price range of $61.19–$65.68 in the past one-month time frame.
This U.S. oil exploration and production stock witnessed 8 downward revisions over the past 30 days. The Zacks Consensus Estimate also moved down over the same time frame, signaling there may be trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent move higher lasts.
Noble Energy carries a Zacks Rank #3 (Hold), while its Earnings ESP is negative.
However, some of the better-ranked stocks in the same sector include Athlon Energy Inc. (ATHL), Cabot Oil & Gas Corporation (COG) and Linn Co, LLC (LNCO). All these stocks sport a Zacks Rank #1 (Strong Buy).
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