Noble Energy, Inc. (NYSE:NBL) – Analysts at Seaport Global Securities raised their FY2017 earnings estimates for shares of Noble Energy in a research report issued to clients and investors on Tuesday, according to Zacks Investment Research. Seaport Global Securities analyst M. Kelly now forecasts that the oil and gas development company will post earnings of ($0.01) per share for the year, up from their previous estimate of ($0.22). Seaport Global Securities currently has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Noble Energy’s Q4 2017 earnings at $0.01 EPS, Q1 2018 earnings at $0.12 EPS, Q2 2018 earnings at $0.12 EPS, Q3 2018 earnings at $0.13 EPS, Q4 2018 earnings at $0.12 EPS and FY2018 earnings at $0.49 EPS.
A number of other research firms have also recently issued reports on NBL. Piper Jaffray Companies reissued a “buy” rating and set a $41.00 target price on shares of Noble Energy in a research note on Tuesday. Capital One Financial raised Noble Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday. Stifel Nicolaus set a $39.00 target price on Noble Energy and gave the stock a “buy” rating in a research note on Thursday, October 5th. Mizuho reissued a “buy” rating on shares of Noble Energy in a research note on Friday, September 29th. Finally, Imperial Capital began coverage on Noble Energy in a research note on Thursday, September 28th. They set an “outperform” rating and a $40.00 target price for the company. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and nineteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $39.47.
Noble Energy (NYSE NBL) traded up $0.09 during midday trading on Friday, reaching $32.23. The company had a trading volume of 4,255,006 shares, compared to its average volume of 3,928,695. Noble Energy has a twelve month low of $22.99 and a twelve month high of $40.89. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.75. The company has a market cap of $15,639.56, a PE ratio of -8.08 and a beta of 1.16.
Noble Energy (NYSE:NBL) last announced its quarterly earnings results on Monday, October 30th. The oil and gas development company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.11. Noble Energy had a positive return on equity of 1.06% and a negative net margin of 45.85%. The company had revenue of $960.00 million during the quarter, compared to analysts’ expectations of $961.61 million. During the same period in the prior year, the business posted ($0.07) EPS. Noble Energy’s revenue was up 5.5% on a year-over-year basis.
In related news, VP Gary W. Willingham acquired 30,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was bought at an average price of $26.00 per share, with a total value of $780,000.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David L. Stover acquired 19,000 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was bought at an average cost of $26.31 per share, with a total value of $499,890.00. Following the acquisition, the chief executive officer now owns 727,254 shares in the company, valued at approximately $19,134,052.74. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 518,787 shares of company stock valued at $14,283,745. Insiders own 2.28% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NBL. Tower Research Capital LLC TRC acquired a new stake in shares of Noble Energy in the 2nd quarter valued at approximately $106,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of Noble Energy in the 3rd quarter valued at approximately $155,000. Sawyer & Company Inc acquired a new stake in shares of Noble Energy in the 4th quarter valued at approximately $169,000. Global X Management Co. LLC boosted its holdings in shares of Noble Energy by 22.6% in the 2nd 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. Finally, IndexIQ Advisors LLC acquired a new stake in shares of Noble Energy in the 2nd quarter valued at approximately $214,000. 94.16% of the stock is owned by institutional investors.
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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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