Jefferies Financial Group Analysts Reduce Earnings Estimates for Noble Energy, Inc. (NBL)
Noble Energy, Inc. (NYSE:NBL) – Investment analysts at Jefferies Financial Group dropped their Q2 2019 earnings estimates for shares of Noble Energy in a report released on Monday, May 13th. Jefferies Financial Group analyst M. Lear now anticipates that the oil and gas development company will earn ($0.10) per share for the quarter, down from their prior forecast of ($0.04). Jefferies Financial Group also issued estimates for Noble Energy’s Q3 2019 earnings at ($0.06) EPS, Q4 2019 earnings at $0.01 EPS, FY2019 earnings at ($0.04) EPS, Q1 2020 earnings at ($0.07) EPS, Q2 2020 earnings at ($0.02) EPS, Q3 2020 earnings at $0.02 EPS, FY2020 earnings at $0.25 EPS and Q1 2021 earnings at $0.11 EPS.
A number of other research firms have also commented on NBL. Barclays raised shares of Noble Energy from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $26.00 to $33.00 in a report on Tuesday, April 30th. JPMorgan Chase & Co. raised shares of Noble Energy from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $28.00 to $32.00 in a report on Monday, April 29th. ValuEngine raised shares of Noble Energy from a “sell” rating to a “hold” rating in a report on Monday, April 1st. TD Securities lowered their target price on shares of Noble Energy from $33.00 to $32.00 and set a “buy” rating for the company in a report on Monday, May 6th. Finally, Mitsubishi UFJ Financial Group lowered their target price on shares of Noble Energy to $34.00 and set an “overweight” rating for the company in a report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have given a buy rating to the company’s stock. Noble Energy currently has an average rating of “Buy” and a consensus price target of $38.19.
Noble Energy (NYSE:NBL) last released its earnings results on Friday, May 3rd. The oil and gas development company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). Noble Energy had a positive return on equity of 2.05% and a negative net margin of 19.63%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the firm posted $0.35 EPS. Noble Energy’s revenue was down 18.2% on a year-over-year basis.
Hedge funds have recently made changes to their positions in the company. Legal & General Group Plc lifted its position in Noble Energy by 5.8% in the 4th quarter. Legal & General Group Plc now owns 2,442,745 shares of the oil and gas development company’s stock valued at $45,787,000 after acquiring an additional 134,069 shares in the last quarter. Gotham Asset Management LLC bought a new stake in Noble Energy in the 4th quarter valued at $297,000. RNC Capital Management LLC lifted its position in Noble Energy by 73.1% in the 1st quarter. RNC Capital Management LLC now owns 179,898 shares of the oil and gas development company’s stock valued at $4,449,000 after acquiring an additional 75,975 shares in the last quarter. Guinness Asset Management Ltd lifted its position in Noble Energy by 15.5% in the 4th quarter. Guinness Asset Management Ltd now owns 373,525 shares of the oil and gas development company’s stock valued at $7,007,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Advisor Partners LLC bought a new stake in Noble Energy in the 1st quarter valued at $271,000. 98.57% of the stock is owned by institutional investors.
In other news, Director James E. Craddock sold 9,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $23.62, for a total value of $212,580.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.81% of the stock is owned by insiders.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 6th will be issued a $0.12 dividend. This is a positive change from Noble Energy’s previous quarterly dividend of $0.11. The ex-dividend date is Friday, May 3rd. This represents a $0.48 annualized dividend and a dividend yield of 1.99%. Noble Energy’s payout ratio is 53.33%.
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. The company owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins.
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