Imperial Capital Analysts Boost Earnings Estimates for Noble Energy Inc. (NBL)
Noble Energy Inc. (NYSE:NBL) – Research analysts at Imperial Capital lifted their FY2017 earnings estimates for shares of Noble Energy in a research report issued on Wednesday. Imperial Capital analyst I. Haas now anticipates that the oil and gas development company will post earnings of ($0.02) per share for the year, up from their previous estimate of ($0.08). Imperial Capital currently has a “Outperform” rating and a $40.00 target price on the stock. Imperial Capital also issued estimates for Noble Energy’s Q4 2017 earnings at $0.00 EPS and FY2018 earnings at $0.02 EPS.
A number of other analysts have also recently commented on the company. Citigroup Inc. reduced their price target on Noble Energy from $45.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Cowen and Company set a $35.00 price objective on Noble Energy and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $32.00 price objective (down previously from $36.00) on shares of Noble Energy in a research note on Tuesday, August 29th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Noble Energy in a research note on Thursday, July 20th. Finally, BMO Capital Markets set a $37.00 price objective on Noble Energy and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $40.76.
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Shares of Noble Energy (NYSE:NBL) opened at $28.30 on Monday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.95 and a quick ratio of 0.99. The company has a market capitalization of $13,770.98, a PE ratio of 117.92 and a beta of 1.18. Noble Energy has a 1 year low of $22.99 and a 1 year high of $42.03.
Noble Energy (NYSE:NBL) last posted its quarterly earnings data on Monday, October 30th. The oil and gas development company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.11. The company had revenue of $960.00 million during the quarter, compared to analysts’ expectations of $961.61 million. Noble Energy had a positive return on equity of 1.06% and a negative net margin of 45.85%. Noble Energy’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.07) earnings per share.
Institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning lifted its position in Noble Energy by 34.1% during the 2nd quarter. Creative Planning now owns 36,377 shares of the oil and gas development company’s stock worth $1,029,000 after acquiring an additional 9,247 shares during the period. Shell Asset Management Co. raised its stake in shares of Noble Energy by 4.4% during the 2nd quarter. Shell Asset Management Co. now owns 108,468 shares of the oil and gas development company’s stock valued at $3,070,000 after buying an additional 4,528 shares during the last quarter. State of Tennessee Treasury Department raised its stake in shares of Noble Energy by 68.3% during the 2nd quarter. State of Tennessee Treasury Department now owns 200,290 shares of the oil and gas development company’s stock valued at $5,668,000 after buying an additional 81,285 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Noble Energy during the 2nd quarter valued at about $460,000. Finally, CNH Partners LLC purchased a new position in shares of Noble Energy during the 2nd quarter valued at about $1,348,000. 91.56% of the stock is owned by institutional investors.
In other news, Director James E. Craddock sold 18,787 shares of the firm’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $28.57, for a total value of $536,744.59. Following the completion of the sale, the director now owns 114,226 shares of the company’s stock, valued at approximately $3,263,436.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.28% of the stock is owned by company insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 6th will be given a $0.10 dividend. The ex-dividend date is Friday, November 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.41%. Noble Energy’s payout ratio is -10.03%.
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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