Noble Energy, Inc. (NYSE:NBL) – Stock analysts at Jefferies Group cut their Q2 2017 earnings estimates for shares of Noble Energy in a report released on Wednesday. Jefferies Group analyst Z. Parham now forecasts that the oil and gas development company will post earnings of ($0.17) per share for the quarter, down from their previous forecast of ($0.11). Jefferies Group currently has a “Buy” rating and a $40.00 target price on the stock. Jefferies Group also issued estimates for Noble Energy’s Q3 2017 earnings at $0.04 EPS, Q4 2017 earnings at $0.11 EPS, FY2017 earnings at ($0.04) EPS, Q1 2018 earnings at $0.14 EPS, Q2 2018 earnings at $0.18 EPS, Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.34 EPS and FY2018 earnings at $0.92 EPS.
Noble Energy (NYSE:NBL) last released its quarterly earnings results on Monday, May 1st. The oil and gas development company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.09. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $974.54 million. Noble Energy had a negative return on equity of 2.51% and a negative net margin of 28.59%. Noble Energy’s revenue was up 43.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.53) earnings per share.
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A number of other equities research analysts also recently weighed in on NBL. Barclays PLC cut their target price on Noble Energy from $46.00 to $44.00 and set an “overweight” rating for the company in a research report on Monday, January 23rd. Scotiabank reaffirmed a “hold” rating and issued a $46.00 price target on shares of Noble Energy in a report on Tuesday, February 14th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $46.00 price target on shares of Noble Energy in a report on Wednesday, February 15th. KLR Group upped their price target on Noble Energy from $66.00 to $67.00 and gave the company a “buy” rating in a report on Thursday, February 16th. Finally, Wunderlich reaffirmed a “buy” rating and issued a $53.00 price target on shares of Noble Energy in a report on Thursday, February 16th. Four analysts have rated the stock with a hold rating, twenty have assigned 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 an average target price of $44.55.
Noble Energy (NYSE:NBL) opened at 31.24 on Friday. The stock’s market cap is $13.46 billion. Noble Energy has a 52-week low of $29.39 and a 52-week high of $42.03. The firm’s 50-day moving average price is $33.00 and its 200 day moving average price is $36.33.
Several institutional investors have recently bought and sold shares of NBL. Fifth Third Bancorp increased its position in Noble Energy by 5.5% in the first quarter. Fifth Third Bancorp now owns 2,913 shares of the oil and gas development company’s stock worth $100,000 after buying an additional 153 shares during the period. Harbour Capital Advisors LLC bought a new position in Noble Energy during the first quarter worth $136,000. Seven Eight Capital LP bought a new position in Noble Energy during the fourth quarter worth $156,000. Boothbay Fund Management LLC bought a new position in Noble Energy during the fourth quarter worth $204,000. Finally, IFM Investors Pty Ltd bought a new position in Noble Energy during the fourth quarter worth $205,000. 93.79% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Jeffrey L. Berenson sold 23,000 shares of the company’s stock in a transaction on Friday, March 10th. The shares were sold at an average price of $34.27, for a total value of $788,210.00. Following the transaction, the director now directly owns 51,803 shares of the company’s stock, valued at $1,775,288.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.17% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Monday, May 22nd. Stockholders of record on Monday, May 8th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Thursday, May 4th. Noble Energy’s dividend payout ratio (DPR) is presently -17.24%.
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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