Noble Energy Inc. (NBL) Forecasted to Post Q3 2017 Earnings of ($0.11) Per Share
Noble Energy Inc. (NYSE:NBL) – Investment analysts at Imperial Capital issued their Q3 2017 earnings per share estimates for shares of Noble Energy in a research note issued to investors on Thursday. Imperial Capital analyst I. Haas forecasts that the oil and gas development company will post earnings of ($0.11) per share for the quarter. 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 ($0.05) EPS, FY2017 earnings at ($0.16) EPS and FY2018 earnings at $0.04 EPS.
Noble Energy (NYSE:NBL) last released its quarterly earnings data on Thursday, August 3rd. The oil and gas development company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.18. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Noble Energy had a positive return on equity of 0.86% and a negative net margin of 46.63%. The company’s revenue was up 25.0% compared to the same quarter last year. During the same period last year, the company posted ($0.24) EPS.
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Other equities analysts have also recently issued reports about the stock. BMO Capital Markets reaffirmed a “buy” rating and set a $45.00 target price on shares of Noble Energy in a report on Thursday, June 22nd. Citigroup Inc. cut their price target on Noble Energy from $45.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $38.00 price objective on shares of Noble Energy in a research note on Thursday, July 20th. Cowen and Company set a $35.00 price objective on Noble Energy and gave the company a “buy” rating in a report on Tuesday, July 18th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $39.00 target price on shares of Noble Energy in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $41.30.
Noble Energy (NBL) opened at 28.36 on Monday. The firm’s market capitalization is $13.39 billion. The company has a 50 day moving average price of $24.87 and a 200-day moving average price of $29.58. Noble Energy has a one year low of $22.99 and a one year high of $42.03.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp boosted its position in Noble Energy by 5.5% during the first quarter. Fifth Third Bancorp now owns 2,913 shares of the oil and gas development company’s stock valued at $100,000 after purchasing an additional 153 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in Noble Energy in the second quarter valued at approximately $106,000. Private Advisor Group LLC acquired a new position in shares of Noble Energy during the 1st quarter worth approximately $132,000. Harbour Capital Advisors LLC acquired a new position in shares of Noble Energy during the 1st quarter worth approximately $136,000. Finally, Global X Management Co. LLC increased its position in shares of Noble Energy by 30.1% during the 1st quarter. Global X Management Co. LLC now owns 5,702 shares of the oil and gas development company’s stock worth $196,000 after purchasing an additional 1,319 shares during the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.
Noble Energy Company Profile
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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