Noble Energy, Inc. (NYSE:NBL) – Equities research analysts at Jefferies Financial Group increased their Q2 2018 EPS estimates for shares of Noble Energy in a report issued on Monday, June 11th. Jefferies Financial Group analyst M. Lear now forecasts that the oil and gas development company will post earnings of $0.21 per share for the quarter, up from their prior forecast of $0.08. Jefferies Financial Group has a “Buy” rating and a $40.00 price objective on the stock. Jefferies Financial Group also issued estimates for Noble Energy’s Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.33 EPS, FY2018 earnings at $1.33 EPS, Q1 2019 earnings at $0.48 EPS, Q2 2019 earnings at $0.48 EPS, Q3 2019 earnings at $0.43 EPS, Q4 2019 earnings at $0.53 EPS, FY2019 earnings at $1.92 EPS, Q1 2020 earnings at $0.70 EPS and FY2020 earnings at $3.14 EPS.
Noble Energy (NYSE:NBL) last issued its quarterly earnings data on Tuesday, May 1st. The oil and gas development company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.28 by $0.07. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Noble Energy had a negative net margin of 13.32% and a positive return on equity of 3.25%. Noble Energy’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.05) earnings per share.
NBL has been the subject of a number of other research reports. Credit Suisse Group cut shares of Noble Energy from an “outperform” rating to a “neutral” rating in a research note on Wednesday, May 30th. Royal Bank of Canada set a $39.00 price target on shares of Noble Energy and gave the stock a “buy” rating in a research note on Friday, April 13th. UBS Group initiated coverage on shares of Noble Energy in a research note on Wednesday, March 7th. They issued a “buy” rating and a $40.00 price target for the company. Stifel Nicolaus set a $44.00 price target on shares of Noble Energy and gave the stock a “buy” rating in a research note on Tuesday, April 24th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $40.00 price target on shares of Noble Energy in a research note on Wednesday, April 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the company’s stock. Noble Energy presently has a consensus rating of “Buy” and an average target price of $40.30.
Shares of Noble Energy opened at $33.84 on Thursday, MarketBeat.com reports. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.17 and a quick ratio of 1.17. Noble Energy has a 12 month low of $22.99 and a 12 month high of $37.67. The company has a market cap of $16.72 billion, a P/E ratio of 109.16, a PEG ratio of 2.96 and a beta of 1.04.
A number of large investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd bought a new stake in Noble Energy during the 1st quarter valued at $1,784,000. Principal Financial Group Inc. raised its holdings in Noble Energy by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 748,383 shares of the oil and gas development company’s stock valued at $22,676,000 after buying an additional 11,869 shares during the last quarter. Xact Kapitalforvaltning AB raised its holdings in Noble Energy by 6.3% during the 1st quarter. Xact Kapitalforvaltning AB now owns 50,293 shares of the oil and gas development company’s stock valued at $1,524,000 after buying an additional 2,985 shares during the last quarter. Royal Bank of Canada raised its holdings in Noble Energy by 3.9% during the 1st quarter. Royal Bank of Canada now owns 680,853 shares of the oil and gas development company’s stock valued at $20,629,000 after buying an additional 25,830 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in Noble Energy by 1.7% during the 1st quarter. Legal & General Group Plc now owns 2,316,368 shares of the oil and gas development company’s stock valued at $70,127,000 after buying an additional 38,225 shares during the last quarter. Institutional investors own 98.58% of the company’s stock.
In related news, VP Andrea Lee Robison sold 8,760 shares of the company’s stock in a transaction on Monday, May 21st. The shares were sold at an average price of $37.00, for a total transaction of $324,120.00. Following the completion of the sale, the vice president now directly owns 100,918 shares in the company, valued at approximately $3,733,966. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP J. Keith Elliott sold 6,000 shares of the company’s stock in a transaction on Monday, May 7th. The shares were sold at an average price of $33.27, for a total transaction of $199,620.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,520 shares of company stock valued at $830,340. Company insiders own 1.96% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 21st. Stockholders of record on Monday, May 7th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.30%. This is a positive change from Noble Energy’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, May 4th. Noble Energy’s payout ratio is presently 141.94%.
Noble Energy Company Profile
Noble Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids worldwide. It owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins. It principal projects are primarily located in the US unconventional basins and various global offshore conventional basins.
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