Noble Energy Inc. (NYSE:NBL) – Seaport Global Securities lowered their Q3 2016 earnings per share (EPS) estimates for Noble Energy in a research report issued on Wednesday. Seaport Global Securities analyst M. Kelly now anticipates that the firm will post earnings of ($0.29) per share for the quarter, down from their previous forecast of ($0.28). Seaport Global Securities also issued estimates for Noble Energy’s FY2016 earnings at ($1.25) EPS.
A number of other equities research analysts also recently weighed in on NBL. Credit Agricole SA began coverage on shares of Noble Energy in a report on Wednesday, June 22nd. They issued an “outperform” rating for the company. Wunderlich upped their price objective on shares of Noble Energy from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 6th. Citigroup Inc. raised shares of Noble Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, July 7th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Noble Energy in a research note on Sunday, July 10th. Finally, Barclays PLC upped their price objective on shares of Noble Energy from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, July 14th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $40.23.
Shares of Noble Energy (NYSE:NBL) opened at 35.18 on Friday. The firm’s 50-day moving average is $34.96 and its 200 day moving average is $35.08. Noble Energy has a 1-year low of $23.77 and a 1-year high of $39.85. The stock’s market capitalization is $15.13 billion.
Noble Energy (NYSE:NBL) last released its quarterly earnings data on Wednesday, August 3rd. The oil and gas development company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.05. Noble Energy had a negative net margin of 90.52% and a negative return on equity of 2.16%. The company earned $847 million during the quarter, compared to the consensus estimate of $909.36 million. During the same period in the previous year, the firm earned $0.26 earnings per share. Noble Energy’s revenue for the quarter was up 14.8% on a year-over-year basis.
In other Noble Energy news, Director Thomas J. Edelman sold 12,000 shares of Noble Energy stock in a transaction on Monday, September 26th. The stock was sold at an average price of $33.62, for a total transaction of $403,440.00. Following the completion of the transaction, the director now directly owns 3,032,978 shares of the company’s stock, valued at $101,968,720.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey L. Berenson sold 10,000 shares of Noble Energy stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $34.05, for a total value of $340,500.00. Following the transaction, the director now directly owns 82,269 shares of the company’s stock, valued at $2,801,259.45. The disclosure for this sale can be found here. Company insiders own 2.17% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Research Global Investors boosted its position in Noble Energy by 19.0% in the second quarter. Capital Research Global Investors now owns 49,608,485 shares of the oil and gas development company’s stock worth $1,779,456,000 after buying an additional 7,920,780 shares in the last quarter. Carmignac Gestion acquired a new position in Noble Energy during the second quarter worth about $218,343,000. Wellington Management Group LLP boosted its position in Noble Energy by 60.6% in the first quarter. Wellington Management Group LLP now owns 4,684,149 shares of the oil and gas development company’s stock worth $147,129,000 after buying an additional 1,767,615 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in Noble Energy by 46.8% in the second quarter. Artisan Partners Limited Partnership now owns 4,885,660 shares of the oil and gas development company’s stock worth $175,249,000 after buying an additional 1,557,412 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Noble Energy by 41.3% in the second quarter. Ameriprise Financial Inc. now owns 4,945,066 shares of the oil and gas development company’s stock worth $177,375,000 after buying an additional 1,444,868 shares in the last quarter. 93.83% of the stock is owned by institutional investors.
About Noble Energy
Noble Energy, Inc is an independent energy company engaged in crude oil, natural gas and natural gas liquids (NGLs) exploration and production. The Company’s portfolio is diversified between short-term and long-term projects, domestic and international and a balanced production mix among crude oil, natural gas and NGLs.
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