Jefferies Group Comments on Noble Energy Inc.’s Q1 2019 Earnings (NBL)
Noble Energy Inc. (NYSE:NBL) – Equities research analysts at Jefferies Group issued their Q1 2019 earnings per share estimates for Noble Energy in a research note issued to investors on Monday. Jefferies Group analyst M. Lear forecasts that the oil and gas development company will earn $0.16 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $29.00 target price on the stock. Jefferies Group also issued estimates for Noble Energy’s Q2 2019 earnings at $0.18 EPS, Q3 2019 earnings at $0.22 EPS and FY2019 earnings at $0.81 EPS.
Noble Energy (NYSE:NBL) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.18. Noble Energy had a negative net margin of 46.63% and a positive return on equity of 0.86%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the firm posted ($0.24) earnings per share. The company’s quarterly revenue was up 25.0% compared to the same quarter last year.
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Other equities analysts also recently issued reports about the stock. Scotiabank reaffirmed a “hold” rating and set a $38.00 price objective on shares of Noble Energy in a report on Friday, June 30th. Citigroup Inc. cut their price objective on shares of Noble Energy from $45.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Seaport Global Securities downgraded shares of Noble Energy from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $36.00 to $23.00 in a report on Wednesday, June 21st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $38.00 price objective on shares of Noble Energy in a report on Thursday, July 20th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $45.00 price objective on shares of Noble Energy in a report on Thursday, June 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $40.98.
Noble Energy (NYSE:NBL) traded up 0.236% during mid-day trading on Wednesday, reaching $27.605. 1,200,647 shares of the company’s stock traded hands. Noble Energy has a 12 month low of $22.99 and a 12 month high of $42.03. The stock’s market cap is $13.43 billion. The company has a 50 day moving average price of $26.06 and a 200-day moving average price of $28.91.
A number of institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC raised its stake in Noble Energy by 0.4% in the 1st quarter. HighTower Advisors LLC now owns 12,644 shares of the oil and gas development company’s stock valued at $434,000 after acquiring an additional 52 shares during the period. Fifth Third Bancorp raised its stake in Noble Energy by 5.5% in the 1st quarter. Fifth Third Bancorp now owns 2,913 shares of the oil and gas development company’s stock valued at $100,000 after acquiring an additional 153 shares during the period. Cadence Capital Management LLC raised its stake in Noble Energy by 1.0% in the 2nd quarter. Cadence Capital Management LLC now owns 15,922 shares of the oil and gas development company’s stock valued at $451,000 after acquiring an additional 163 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in Noble Energy by 2.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,842 shares of the oil and gas development company’s stock valued at $304,000 after acquiring an additional 203 shares during the period. Finally, Cleararc Capital Inc. raised its stake in Noble Energy by 2.2% in the 1st quarter. Cleararc Capital Inc. now owns 10,641 shares of the oil and gas development company’s stock valued at $365,000 after acquiring an additional 233 shares during the period. Institutional investors and hedge funds own 91.64% 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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