Noble Energy Inc. to Post Q4 2017 Earnings of $0.08 Per Share, Jefferies Group Forecasts (NBL)
Noble Energy Inc. (NYSE:NBL) – Analysts at Jefferies Group reduced their Q4 2017 EPS estimates for shares of Noble Energy in a research note issued to investors on Monday. Jefferies Group analyst Z. Parham now expects that the oil and gas development company will earn $0.08 per share for the quarter, down from their previous forecast of $0.09. Jefferies Group has a “Buy” rating and a $40.00 price target on the stock. Jefferies Group also issued estimates for Noble Energy’s Q3 2018 earnings at $0.22 EPS, Q4 2018 earnings at $0.28 EPS and FY2018 earnings at $0.80 EPS.
Noble Energy (NYSE:NBL) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.18. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Noble Energy had a positive return on equity of 0.86% and a negative net margin of 46.63%. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period last year, the company posted ($0.24) EPS.
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A number of other analysts have also commented on NBL. Barclays PLC reaffirmed an “overweight” rating and set a $41.00 target price (down previously from $46.00) on shares of Noble Energy in a report on Saturday, April 22nd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $48.00 target price on shares of Noble Energy in a report on Tuesday, April 25th. Credit Suisse Group reaffirmed a “buy” rating and set a $44.00 target price on shares of Noble Energy in a report on Thursday, April 27th. Evercore ISI reaffirmed an “outperform” rating and set a $40.00 target price on shares of Noble Energy in a report on Tuesday, May 2nd. Finally, Scotiabank reaffirmed a “hold” rating and set a $38.00 target price on shares of Noble Energy in a report on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $41.48.
Shares of Noble Energy (NBL) traded down 0.77% during trading on Wednesday, reaching $24.38. The company’s stock had a trading volume of 378,708 shares. The company’s 50-day moving average is $27.53 and its 200-day moving average is $31.95. Noble Energy has a 12 month low of $24.25 and a 12 month high of $42.03. The company’s market capitalization is $11.51 billion.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, August 7th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Thursday, August 3rd. Noble Energy’s payout ratio is presently -9.90%.
Institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Noble Energy by 2,679.8% in the first quarter. BlackRock Inc. now owns 30,020,041 shares of the oil and gas development company’s stock worth $1,030,889,000 after buying an additional 28,940,088 shares during the last quarter. Ares Management LLC bought a new position in shares of Noble Energy during the second quarter worth $499,364,000. Capital World Investors raised its position in shares of Noble Energy by 20.8% in the second quarter. Capital World Investors now owns 55,184,801 shares of the oil and gas development company’s stock worth $1,561,730,000 after buying an additional 9,488,951 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Noble Energy by 29.8% in the second quarter. Vanguard Group Inc. now owns 38,933,217 shares of the oil and gas development company’s stock worth $1,101,810,000 after buying an additional 8,933,476 shares during the last quarter. Finally, Carmignac Gestion raised its position in shares of Noble Energy by 107.3% in the second quarter. Carmignac Gestion now owns 11,753,883 shares of the oil and gas development company’s stock worth $332,635,000 after buying an additional 6,084,237 shares during the last quarter. 86.57% of the stock is owned by hedge funds and other institutional investors.
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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