Noble Energy, Inc. (NYSE:NBL) – Research analysts at Jefferies Group boosted their Q2 2018 earnings estimates for Noble Energy in a research report issued on Wednesday. Jefferies Group analyst M. Lear now expects that the oil and gas development company will post earnings per share of $0.21 for the quarter, up from their previous estimate of $0.14. Jefferies Group currently has a “Buy” rating and a $38.00 target price on the stock. Jefferies Group also issued estimates for Noble Energy’s Q3 2018 earnings at $0.22 EPS, Q4 2018 earnings at $0.27 EPS, Q1 2019 earnings at $0.28 EPS, Q2 2019 earnings at $0.31 EPS, Q3 2019 earnings at $0.35 EPS and Q4 2019 earnings at $0.38 EPS.
Several other research analysts have also recently issued reports on NBL. Barclays cut their price target on shares of Noble Energy from $33.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, November 16th. Piper Jaffray Companies reissued a “buy” rating and set a $35.00 price target on shares of Noble Energy in a report on Friday, November 17th. Scotiabank set a $35.00 price target on shares of Noble Energy and gave the stock a “hold” rating in a report on Saturday, November 25th. Stifel Nicolaus set a $41.00 price target on shares of Noble Energy and gave the stock a “buy” rating in a report on Tuesday, November 28th. Finally, Cowen set a $40.00 target price on shares of Noble Energy and gave the company a “buy” rating in a report on Sunday, December 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nineteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $39.74.
Noble Energy (NBL) opened at $29.13 on Thursday. The stock has a market cap of $14,178.61, a PE ratio of -12.19 and a beta of 1.14. Noble Energy has a 1-year low of $22.99 and a 1-year high of $37.78. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.75.
Noble Energy (NYSE:NBL) last posted its quarterly earnings results on Tuesday, February 20th. The oil and gas development company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.28. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Noble Energy had a negative net margin of 26.27% and a positive return on equity of 1.49%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share.
Noble Energy announced that its Board of Directors has initiated a share buyback program on Thursday, February 15th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the oil and gas development company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 26th. Stockholders of record on Monday, February 12th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, February 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.37%. Noble Energy’s dividend payout ratio (DPR) is -16.74%.
In other Noble Energy news, CEO David L. Stover acquired 19,000 shares of the company’s stock in a transaction dated Monday, December 18th. The stock was acquired at an average cost of $26.31 per share, with a total value of $499,890.00. Following the purchase, the chief executive officer now directly owns 727,254 shares in the company, valued at approximately $19,134,052.74. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas J. Edelman sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $26.99, for a total transaction of $5,398,000.00. Following the transaction, the director now directly owns 2,952,878 shares of the company’s stock, valued at $79,698,177.22. The disclosure for this sale can be found here. Company insiders own 2.28% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of NBL. Hexavest Inc. purchased a new position in shares of Noble Energy during the 4th quarter worth approximately $38,964,000. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Noble Energy during the 4th quarter worth approximately $29,414,000. Alliancebernstein L.P. boosted its position in Noble Energy by 22.4% during the fourth quarter. Alliancebernstein L.P. now owns 3,984,847 shares of the oil and gas development company’s stock worth $116,118,000 after acquiring an additional 728,937 shares during the last quarter. South Dakota Investment Council boosted its position in Noble Energy by 76.0% during the third quarter. South Dakota Investment Council now owns 1,379,863 shares of the oil and gas development company’s stock worth $39,133,000 after acquiring an additional 595,865 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Noble Energy by 16.2% during the fourth quarter. Bank of New York Mellon Corp now owns 4,258,901 shares of the oil and gas development company’s stock worth $124,105,000 after acquiring an additional 593,180 shares during the last quarter. 94.47% of the stock is owned by institutional investors and hedge funds.
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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