Noble Energy, Inc. (NYSE:NBL) – Mitsubishi UFJ Financial Group boosted their FY2018 earnings per share (EPS) estimates for Noble Energy in a report issued on Thursday, October 11th. Mitsubishi UFJ Financial Group analyst M. Mcallister now forecasts that the oil and gas development company will post earnings of $0.89 per share for the year, up from their prior estimate of $0.87. Mitsubishi UFJ Financial Group currently has a “Overweight” rating and a $52.00 target price on the stock. Mitsubishi UFJ Financial Group also issued estimates for Noble Energy’s Q4 2018 earnings at $0.24 EPS, Q1 2019 earnings at $0.30 EPS, Q2 2019 earnings at $0.29 EPS, Q3 2019 earnings at $0.35 EPS, Q4 2019 earnings at $0.40 EPS, Q2 2020 earnings at $0.56 EPS and Q3 2020 earnings at $0.60 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 (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.05). Noble Energy had a net margin of 19.01% and a return on equity of 2.89%. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm earned $0.05 earnings per share. The company’s revenue was up 16.1% on a year-over-year basis.
Other equities analysts have also issued reports about the company. Citigroup lowered their price target on Noble Energy from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday, August 13th. Morgan Stanley lowered their price target on Noble Energy from $39.00 to $36.00 and set a “hold” rating on the stock in a research note on Thursday, August 16th. Jefferies Financial Group set a $46.00 price target on Noble Energy and gave the company a “buy” rating in a research note on Tuesday, August 7th. Oppenheimer assumed coverage on Noble Energy in a research note on Wednesday, October 3rd. They set a “market perform” rating and a $43.00 price target on the stock. Finally, Stifel Nicolaus set a $40.00 price target on Noble Energy and gave the company a “buy” rating in a research note on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the company. Noble Energy presently has an average rating of “Buy” and a consensus target price of $41.88.
Shares of NBL opened at $31.90 on Monday. Noble Energy has a 12-month low of $24.28 and a 12-month high of $37.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $15.07 billion, a P/E ratio of 102.90, a PEG ratio of 3.14 and a beta of 0.96.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Park National Corp OH acquired a new position in Noble Energy during the 2nd quarter worth $2,455,000. James Investment Research Inc. acquired a new position in shares of Noble Energy in the 2nd quarter valued at $2,101,000. American Century Companies Inc. lifted its stake in shares of Noble Energy by 1.6% in the 2nd quarter. American Century Companies Inc. now owns 7,460,070 shares of the oil and gas development company’s stock valued at $263,191,000 after purchasing an additional 119,166 shares during the period. CIBC World Markets Inc. lifted its stake in shares of Noble Energy by 50.0% in the 2nd quarter. CIBC World Markets Inc. now owns 19,206 shares of the oil and gas development company’s stock valued at $678,000 after purchasing an additional 6,404 shares during the period. Finally, Putnam Investments LLC lifted its stake in shares of Noble Energy by 28.1% in the 2nd quarter. Putnam Investments LLC now owns 151,413 shares of the oil and gas development company’s stock valued at $5,342,000 after purchasing an additional 33,248 shares during the period. 97.68% of the stock is currently owned by institutional investors and hedge funds.
In other news, major shareholder Nbl Midstream, Llc sold 14,137,198 shares of the business’s stock in a transaction that occurred on Wednesday, September 26th. The stock was sold at an average price of $17.75, for a total value of $250,935,264.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.96% of the stock is owned by insiders.
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.
Featured Story: The risks of owning bonds
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.