Noble Energy, Inc. (NYSE:NBL) – Stock analysts at Jefferies Group cut their Q1 2018 EPS estimates for Noble Energy in a report released on Monday. Jefferies Group analyst M. Lear now forecasts that the oil and gas development company will post earnings per share of $0.21 for the quarter, down from their previous estimate of $0.23. Jefferies Group has a “Buy” rating and a $40.00 price objective on the stock. Jefferies Group also issued estimates for Noble Energy’s Q2 2018 earnings at $0.18 EPS, Q3 2018 earnings at $0.19 EPS, Q4 2018 earnings at $0.24 EPS, FY2018 earnings at $0.81 EPS, Q1 2019 earnings at $0.25 EPS, Q2 2019 earnings at $0.27 EPS, Q3 2019 earnings at $0.31 EPS, Q4 2019 earnings at $0.35 EPS and FY2019 earnings at $1.19 EPS.
Noble Energy (NYSE:NBL) last issued its quarterly earnings data on Tuesday, February 20th. The oil and gas development company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.28. Noble Energy had a positive return on equity of 1.46% and a negative net margin of 26.27%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company posted $0.26 EPS. The business’s revenue for the quarter was up 18.9% compared to the same quarter last year.
A number of other equities research analysts have also recently commented on the company. Argus raised Noble Energy from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Tuesday, March 13th. UBS began coverage on Noble Energy in a research note on Wednesday, March 7th. They set a “buy” rating and a $40.00 price objective for the company. BMO Capital Markets reaffirmed a “buy” rating and set a $38.00 price objective on shares of Noble Energy in a research note on Tuesday, February 27th. Bank of America lifted their price objective on Noble Energy from $52.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Finally, Royal Bank of Canada set a $37.00 price objective on Noble Energy and gave the stock a “buy” rating in a research note on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-one have issued a buy rating to the stock. Noble Energy presently has a consensus rating of “Buy” and a consensus target price of $40.48.
Shares of NBL stock opened at $30.99 on Wednesday. The firm has a market capitalization of $14,165.29, a price-to-earnings ratio of -12.97 and a beta of 1.10. Noble Energy has a 52-week low of $22.99 and a 52-week high of $35.74. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.27.
Institutional investors have recently modified their holdings of the company. Sawyer & Company Inc bought a new stake in shares of Noble Energy in the fourth quarter valued at about $169,000. Lourd Capital LLC bought a new stake in shares of Noble Energy in the fourth quarter valued at about $203,000. Levin Capital Strategies L.P. bought a new stake in shares of Noble Energy in the fourth quarter valued at about $219,000. FDx Advisors Inc. bought a new stake in shares of Noble Energy in the fourth quarter valued at about $231,000. Finally, Assetmark Inc. lifted its holdings in shares of Noble Energy by 355.5% in the fourth quarter. Assetmark Inc. now owns 8,558 shares of the oil and gas development company’s stock valued at $249,000 after purchasing an additional 6,679 shares in the last quarter. Institutional investors own 95.64% of the company’s stock.
In other news, CFO Kenneth M. Fisher sold 7,621 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $28.80, for a total value of $219,484.80. Following the sale, the chief financial officer now directly owns 197,144 shares in the company, valued at $5,677,747.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James E. Craddock sold 8,500 shares of the business’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $31.35, for a total value of $266,475.00. Following the completion of the sale, the director now owns 93,413 shares in the company, valued at $2,928,497.55. The disclosure for this sale can be found here. Insiders own 1.96% of the company’s stock.
Noble Energy announced that its board has initiated a stock repurchase program on Thursday, February 15th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the oil and gas development company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Monday, February 12th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.29%. Noble Energy’s dividend payout ratio (DPR) is -16.74%.
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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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