Noble Energy Inc. (NBL) Forecasted to Post Q1 2018 Earnings of $0.01 Per Share
Noble Energy Inc. (NYSE:NBL) – Investment analysts at Imperial Capital issued their Q1 2018 earnings per share (EPS) estimates for Noble Energy in a research note issued on Wednesday. Imperial Capital analyst I. Haas expects that the oil and gas development company will post earnings of $0.01 per share for the quarter. Imperial Capital has a “Outperform” rating and a $40.00 price target on the stock. Imperial Capital also issued estimates for Noble Energy’s Q2 2018 earnings at $0.00 EPS, Q3 2018 earnings at $0.00 EPS and Q4 2018 earnings at $0.02 EPS.
NBL has been the topic of a number of other reports. Mizuho restated a “buy” rating on shares of Noble Energy in a report on Friday, September 29th. Seaport Global Securities upgraded Noble Energy from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $23.00 to $26.00 in a report on Friday, August 11th. Cowen and Company set a $35.00 target price on Noble Energy and gave the stock a “buy” rating in a report on Friday, August 25th. Morgan Stanley lifted their target price on Noble Energy from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Finally, Barclays PLC lifted their target price on Noble Energy from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Noble Energy presently has an average rating of “Buy” and a consensus price target of $40.76.
Noble Energy (NYSE:NBL) last posted its earnings results on Monday, October 30th. The oil and gas development company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.11. The company had revenue of $960.00 million for the quarter, compared to analyst estimates of $961.61 million. Noble Energy had a positive return on equity of 1.06% and a negative net margin of 45.85%. Noble Energy’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.07) earnings per share.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Planning boosted its position in Noble Energy by 34.1% during the second quarter. Creative Planning now owns 36,377 shares of the oil and gas development company’s stock valued at $1,029,000 after purchasing an additional 9,247 shares during the last quarter. Shell Asset Management Co. lifted its position in shares of Noble Energy by 4.4% in the second quarter. Shell Asset Management Co. now owns 108,468 shares of the oil and gas development company’s stock worth $3,070,000 after buying an additional 4,528 shares during the last quarter. State of Tennessee Treasury Department lifted its position in shares of Noble Energy by 68.3% in the second quarter. State of Tennessee Treasury Department now owns 200,290 shares of the oil and gas development company’s stock worth $5,668,000 after buying an additional 81,285 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Noble Energy in the second quarter worth about $460,000. Finally, CNH Partners LLC acquired a new stake in shares of Noble Energy in the second quarter worth about $1,348,000. 91.56% of the stock is owned by hedge funds and other institutional investors.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, November 6th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 1.44%. Noble Energy’s payout ratio is -10.03%.
Noble Energy Company Profile
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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