Q1 2018 EPS Estimates for Noble Energy Inc. (NBL) Lifted by Analyst
Noble Energy Inc. (NYSE:NBL) – Jefferies Group boosted their Q1 2018 earnings estimates for shares of Noble Energy in a report released on Wednesday. Jefferies Group analyst M. Lear now expects that the oil and gas development company will earn $0.05 per share for the quarter, up from their prior estimate of $0.02. 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 2018 earnings at $0.04 EPS, Q3 2018 earnings at $0.13 EPS, Q4 2018 earnings at $0.14 EPS, Q1 2019 earnings at $0.20 EPS, Q2 2019 earnings at $0.24 EPS and Q3 2019 earnings at $0.28 EPS.
A number of other analysts also recently issued reports on NBL. Imperial Capital assumed coverage on shares of Noble Energy in a report on Thursday, September 28th. They set an “outperform” rating and a $40.00 price target on the stock. Mizuho reaffirmed a “buy” rating on shares of Noble Energy in a report on Friday, September 29th. Seaport Global Securities raised shares of Noble Energy from a “sell” rating to a “neutral” rating and raised their price target for the company from $23.00 to $26.00 in a report on Friday, August 11th. Cowen and Company set a $35.00 price target on shares of Noble Energy and gave the company a “buy” rating in a report on Friday, August 25th. Finally, Morgan Stanley raised their price target on shares of Noble Energy from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. Two equities research 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 has an average rating of “Buy” and an average target price of $40.76.
Noble Energy (NYSE:NBL) last announced its quarterly earnings data on Monday, October 30th. The oil and gas development company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.11. The business had revenue of $960.00 million for the quarter, compared to analyst estimates of $961.61 million. Noble Energy had a negative net margin of 45.85% and a positive return on equity of 1.06%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.07) earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 6th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Friday, November 3rd. Noble Energy’s payout ratio is currently -10.03%.
Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new stake in shares of Noble Energy during the second quarter valued at approximately $106,000. Highbridge Capital Management LLC bought a new stake in shares of Noble Energy during the first quarter valued at approximately $201,000. Global X Management Co. LLC raised its position in shares of Noble Energy by 22.6% during the second quarter. Global X Management Co. LLC now owns 6,993 shares of the oil and gas development company’s stock valued at $198,000 after buying an additional 1,291 shares during the last quarter. IBM Retirement Fund raised its position in shares of Noble Energy by 50.1% during the second quarter. IBM Retirement Fund now owns 7,142 shares of the oil and gas development company’s stock valued at $202,000 after buying an additional 2,384 shares during the last quarter. Finally, IndexIQ Advisors LLC bought a new stake in shares of Noble Energy during the second quarter valued at approximately $214,000. Hedge funds and other institutional investors own 91.56% 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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