Noble Energy Inc. (NBL) Expected to Earn Q3 2017 Earnings of ($0.11) Per Share
Noble Energy Inc. (NYSE:NBL) – Investment analysts at Seaport Global Securities issued their Q3 2017 EPS estimates for Noble Energy in a research report issued to clients and investors on Monday. Seaport Global Securities analyst M. Kelly anticipates that the oil and gas development company will post earnings per share of ($0.11) for the quarter. Seaport Global Securities has a “Neutral” rating and a $26.00 price target on the stock. Seaport Global Securities also issued estimates for Noble Energy’s Q4 2017 earnings at ($0.10) EPS, FY2017 earnings at ($0.22) EPS and Q3 2018 earnings at ($0.15) EPS.
NBL has been the topic of a number of other research reports. BMO Capital Markets set a $33.00 target price on shares of Noble Energy and gave the company a “buy” rating in a research report on Tuesday, October 10th. Piper Jaffray Companies dropped their target price on shares of Noble Energy from $47.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, September 18th. Cowen and Company set a $35.00 target price on shares of Noble Energy and gave the company a “buy” rating in a research report on Tuesday, July 18th. Scotiabank set a $38.00 target price on shares of Noble Energy and gave the company a “hold” rating in a research report on Thursday, August 3rd. Finally, Barclays PLC boosted their target price on shares of Noble Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $40.76.
Shares of Noble Energy (NYSE:NBL) opened at 27.13 on Wednesday. Noble Energy has a one year low of $22.99 and a one year high of $42.03. The company’s 50 day moving average is $27.07 and its 200-day moving average is $28.43. The firm’s market capitalization is $12.81 billion.
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, topping analysts’ consensus estimates 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 business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the business posted ($0.24) earnings per share. The firm’s quarterly revenue was up 25.0% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 6th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.40 annualized dividend and a dividend yield of 1.47%. Noble Energy’s dividend payout ratio is currently -9.90%.
Several hedge funds have recently made changes to their positions in NBL. HighTower Advisors LLC grew its position in Noble Energy by 0.4% during the first quarter. HighTower Advisors LLC now owns 12,644 shares of the oil and gas development company’s stock valued at $434,000 after buying an additional 52 shares during the period. Fifth Third Bancorp grew its position in 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 buying an additional 153 shares during the period. Cadence Capital Management LLC grew its position in Noble Energy by 1.0% during the second quarter. Cadence Capital Management LLC now owns 15,922 shares of the oil and gas development company’s stock valued at $451,000 after buying an additional 163 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Noble Energy by 3.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 9,135 shares of the oil and gas development company’s stock valued at $259,000 after buying an additional 293 shares during the period. Finally, Norway Savings Bank grew its position in Noble Energy by 1.9% during the second quarter. Norway Savings Bank now owns 15,985 shares of the oil and gas development company’s stock valued at $452,000 after buying an additional 300 shares during the period. Institutional investors own 91.54% 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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