Noble Energy Inc. (NYSE:NBL) Expected to Post Q4 2017 Earnings of $0.09 Per Share
Noble Energy Inc. (NYSE:NBL) – Research analysts at Jefferies Group reduced their Q4 2017 earnings per share estimates for shares of Noble Energy in a report released on Wednesday. Jefferies Group analyst Z. Parham now expects that the oil and gas development company will earn $0.09 per share for the quarter, down from their previous forecast of $0.11. Jefferies Group currently has a “Buy” rating and a $40.00 price target on the stock. Jefferies Group also issued estimates for Noble Energy’s Q1 2018 earnings at $0.12 EPS, Q2 2018 earnings at $0.17 EPS, Q3 2018 earnings at $0.24 EPS, Q4 2018 earnings at $0.31 EPS and FY2018 earnings at $0.84 EPS.
Other analysts have also recently issued reports about the stock. Scotiabank set a $38.00 target price on shares of Noble Energy and gave the stock a “hold” rating in a report on Monday, March 27th. BidaskClub raised shares of Noble Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Piper Jaffray Companies reissued an “overweight” rating and set a $47.00 target price on shares of Noble Energy in a report on Monday, May 8th. Evercore ISI reissued an “outperform” rating and set a $40.00 target price on shares of Noble Energy in a report on Tuesday, May 2nd. Finally, ValuEngine cut shares of Noble Energy from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $42.79.
Shares of Noble Energy (NYSE:NBL) traded down 0.57% during midday trading on Thursday, reaching $29.54. 854,781 shares of the company traded hands. Noble Energy has a 12 month low of $26.56 and a 12 month high of $42.03. The company has a 50 day moving average of $28.53 and a 200 day moving average of $33.54. The firm’s market capitalization is $12.73 billion.
Noble Energy (NYSE:NBL) last announced its quarterly earnings results on Monday, May 1st. The oil and gas development company reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.09. Noble Energy had a negative net margin of 17.75% and a negative return on equity of 0.44%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $974.54 million. During the same period last year, the business earned ($0.53) EPS. Noble Energy’s revenue for the quarter was up 43.1% compared to the same quarter last year.
Institutional investors have recently bought and sold shares of the stock. Cambiar Investors LLC raised its position in Noble Energy by 2.8% in the first quarter. Cambiar Investors LLC now owns 1,209,445 shares of the oil and gas development company’s stock valued at $41,532,000 after buying an additional 32,437 shares during the period. Bridgewater Associates LP raised its position in Noble Energy by 1.3% in the first quarter. Bridgewater Associates LP now owns 107,164 shares of the oil and gas development company’s stock valued at $3,680,000 after buying an additional 1,402 shares during the period. Morgan Stanley raised its position in Noble Energy by 12.5% in the first quarter. Morgan Stanley now owns 2,704,117 shares of the oil and gas development company’s stock valued at $92,859,000 after buying an additional 301,069 shares during the period. Retirement Systems of Alabama raised its position in Noble Energy by 3.6% in the first quarter. Retirement Systems of Alabama now owns 210,503 shares of the oil and gas development company’s stock valued at $7,229,000 after buying an additional 7,317 shares during the period. Finally, ProShare Advisors LLC raised its position in Noble Energy by 86.0% in the first quarter. ProShare Advisors LLC now owns 132,825 shares of the oil and gas development company’s stock valued at $4,561,000 after buying an additional 61,415 shares during the period. Institutional investors own 96.84% of the company’s stock.
About Noble Energy
Noble Energy, Inc is an independent energy company. The Company is engaged in crude oil, natural gas and natural gas and natural gas liquids (NGLs) exploration, development, production and acquisition. The Company’s segments include: United States, including the onshore DJ Basin, Permian Basin, Eagle Ford Shale, Marcellus Shale and offshore deepwater Gulf of Mexico, as well as the consolidated accounts of Noble Midstream Partners LP (Noble Midstream Partners); Eastern Mediterranean, including offshore Israel and Cyprus; West Africa, including offshore Equatorial Guinea, Cameroon and Gabon, and Other International and Corporate, including new ventures, such as offshore the Falkland Islands, Suriname and Newfoundland.
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