UBS Maintains a 'Buy' on Noble Energy (NBL); Mediocre Sale Price for Anadarko Basin Assets

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UBS maintains a 'Buy' on Noble Energy (NYSE: NBL) price target of $125.00.

Analyst, William A. Featherston, thinks 2012 volume guidance will be adjusted as the company only got mediocre sale price for Anadarko Basin assets.

Featherston is referring to yesterday's news that Noble signed a definitive agreement to sell certain oil and natural gas properties in western Oklahoma and the Texas Panhandle to Unit Petroleum Company, a wholly owned subsidiary of Unit Corporation (NYSE: UNT), for $617 million. The properties include Noble Energy's interest in about 900 producing wells on approximately 84,000 net acres. Noble's president/COO said that the sale is just part of the previously announced divestiture of non-core assets.

For an analyst ratings summary and ratings history on Noble Energy click here. For more ratings news on Noble Energy click here.

Shares of Noble Energy closed at $84.87 yesterday, with a 52 week range of $65.91-$105.46.

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