Noble Energy Inc. (NBL) to Post Q3 2017 Earnings of ($0.13) Per Share, Jefferies Group Forecasts
Noble Energy Inc. (NYSE:NBL) – Jefferies Group issued their Q3 2017 EPS estimates for shares of Noble Energy in a note issued to investors on Monday. Jefferies Group analyst M. Lear forecasts that the oil and gas development company will post earnings per share of ($0.13) for the quarter. Jefferies Group has a “Hold” rating and a $29.00 price target on the stock. Jefferies Group also issued estimates for Noble Energy’s Q4 2017 earnings at $0.00 EPS, FY2017 earnings at ($0.08) EPS, Q1 2018 earnings at $0.02 EPS, Q2 2018 earnings at $0.02 EPS, Q3 2018 earnings at $0.10 EPS, Q4 2018 earnings at $0.10 EPS and FY2018 earnings at $0.24 EPS.
Several other equities analysts have also recently issued reports on NBL. BMO Capital Markets set a $33.00 target price on Noble Energy and gave the stock a “buy” rating in a research report on Tuesday. Barclays PLC boosted their target price on Noble Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Wednesday. Stifel Nicolaus set a $39.00 target price on Noble Energy and gave the stock a “buy” rating in a research report on Thursday, October 5th. Imperial Capital began coverage on Noble Energy in a research report on Thursday, September 28th. They set an “outperform” rating and a $40.00 target price on the stock. Finally, Mizuho reiterated a “buy” rating on shares of Noble Energy in a research report on Friday, September 29th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $41.02.
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Shares of Noble Energy (NBL) opened at 27.79 on Thursday. The firm’s market capitalization is $13.12 billion. The firm has a 50-day moving average price of $26.18 and a 200 day moving average price of $28.90. Noble Energy has a one year low of $22.99 and a one year high of $42.03.
Noble Energy (NYSE:NBL) last issued its quarterly earnings data on Thursday, August 3rd. The oil and gas development company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.18. Noble Energy had a positive return on equity of 0.86% and a negative net margin of 46.63%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company earned ($0.24) earnings per share. Noble Energy’s quarterly revenue was up 25.0% compared to the same quarter last year.
A number of large investors have recently added to or reduced their stakes in NBL. Fifth Third Bancorp grew its stake in shares of Noble Energy by 5.5% during the first 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 in the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Noble Energy during the second quarter valued at about $106,000. Harbour Capital Advisors LLC acquired a new stake in shares of Noble Energy during the first quarter valued at about $136,000. Global X Management Co. LLC grew its stake in shares of Noble Energy by 30.1% during the first quarter. Global X Management Co. LLC now owns 5,702 shares of the oil and gas development company’s stock valued at $196,000 after acquiring an additional 1,319 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in shares of Noble Energy during the first quarter valued at about $201,000. 91.64% of the stock is currently owned by 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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