Noble Energy, Inc. (NYSE:NBL) – Mitsubishi UFJ Financial Group reduced their Q3 2018 earnings estimates for shares of Noble Energy in a research report issued to clients and investors on Thursday, August 16th. Mitsubishi UFJ Financial Group analyst M. Mcallister now expects that the oil and gas development company will post earnings of $0.13 per share for the quarter, down from their previous forecast of $0.26. Mitsubishi UFJ Financial Group has a “Overweight” rating and a $52.00 price objective on the stock. Mitsubishi UFJ Financial Group also issued estimates for Noble Energy’s Q4 2018 earnings at $0.22 EPS, FY2018 earnings at $0.87 EPS, Q1 2019 earnings at $0.23 EPS, Q2 2019 earnings at $0.23 EPS, Q3 2019 earnings at $0.28 EPS, Q4 2019 earnings at $0.31 EPS, FY2019 earnings at $1.05 EPS, Q1 2020 earnings at $0.37 EPS, Q2 2020 earnings at $0.43 EPS and FY2020 earnings at $1.85 EPS.
Noble Energy (NYSE:NBL) last issued its quarterly earnings results on Friday, August 3rd. The oil and gas development company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.05). The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.15 billion. Noble Energy had a net margin of 19.01% and a return on equity of 2.89%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 EPS.
Other equities research analysts have also recently issued research reports about the company. ValuEngine raised Noble Energy from a “sell” rating to a “hold” rating in a research note on Thursday, May 17th. Citigroup decreased their price target on Noble Energy from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Monday, August 13th. Credit Suisse Group increased their price target on Noble Energy from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Sunday, May 20th. Jefferies Financial Group set a $46.00 target price on Noble Energy and gave the company a “buy” rating in a research report on Tuesday, August 7th. Finally, Morgan Stanley cut their target price on Noble Energy from $39.00 to $36.00 and set a “hold” rating on the stock in a research report on Thursday, August 16th. Nine investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $41.62.
Shares of NBL stock opened at $28.73 on Monday. The stock has a market capitalization of $13.90 billion, a PE ratio of 92.68, a P/E/G ratio of 2.85 and a beta of 1.07. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.58. Noble Energy has a 1-year low of $22.99 and a 1-year high of $37.76.
Large investors have recently made changes to their positions in the business. Point72 Asia Hong Kong Ltd boosted its holdings in Noble Energy by 656.0% in the first quarter. Point72 Asia Hong Kong Ltd now owns 3,833 shares of the oil and gas development company’s stock worth $116,000 after acquiring an additional 3,326 shares in the last quarter. Advisors Preferred LLC bought a new position in Noble Energy in the second quarter worth approximately $126,000. Whittier Trust Co. bought a new position in Noble Energy in the second quarter worth approximately $163,000. Piedmont Investment Advisors LLC bought a new position in Noble Energy in the second quarter worth approximately $200,000. Finally, Ingalls & Snyder LLC bought a new position in Noble Energy in the second quarter worth approximately $202,000. Institutional investors and hedge funds own 98.46% of the company’s stock.
In other Noble Energy news, major shareholder Nbl Midstream, Llc sold 7,475,000 shares of the stock in a transaction that occurred on Friday, June 29th. The stock was sold at an average price of $18.03, for a total value of $134,774,250.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Gary W. Willingham sold 24,646 shares of the stock in a transaction that occurred on Tuesday, July 10th. The stock was sold at an average price of $37.50, for a total value of $924,225.00. Following the completion of the transaction, the vice president now owns 194,640 shares in the company, valued at approximately $7,299,000. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by corporate insiders.
The company also recently declared a quarterly dividend, which was paid on Monday, August 20th. Shareholders of record on Monday, August 6th were issued a $0.11 dividend. The ex-dividend date was Friday, August 3rd. This represents a $0.44 annualized dividend and a yield of 1.53%. Noble Energy’s payout ratio is currently 141.94%.
About Noble Energy
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.
Read More: Short Selling Stocks, A Beginner’s Guide
Receive News & Ratings for Noble Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noble Energy and related companies with MarketBeat.com's FREE daily email newsletter.