Noble Energy, Inc. (NYSE:NBL) – Equities researchers at Imperial Capital issued their Q1 2018 earnings estimates for Noble Energy in a note issued to investors on Wednesday. Imperial Capital analyst I. Haas anticipates that the oil and gas development company will post earnings per share of $0.19 for the quarter. Imperial Capital has a “Outperform” rating and a $52.00 price objective on the stock. Imperial Capital also issued estimates for Noble Energy’s Q2 2018 earnings at $0.25 EPS, Q3 2018 earnings at $0.24 EPS, Q4 2018 earnings at $0.25 EPS and FY2018 earnings at $0.93 EPS.
A number of other equities analysts have also weighed in on the stock. Morgan Stanley lifted their price objective on shares of Noble Energy from $36.00 to $39.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Mizuho set a $43.00 price objective on shares of Noble Energy and gave the company a “buy” rating in a research report on Tuesday, January 16th. JPMorgan Chase & Co. lowered shares of Noble Energy from an “overweight” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a research report on Friday, December 15th. Credit Suisse Group started coverage on shares of Noble Energy in a research report on Monday, December 11th. They issued an “outperform” rating and a $35.00 price objective on the stock. Finally, Barclays lowered their price objective on shares of Noble Energy from $33.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, November 16th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Noble Energy currently has a consensus rating of “Buy” and a consensus price target of $39.95.
Noble Energy (NYSE NBL) opened at $30.66 on Friday. Noble Energy has a 1 year low of $22.99 and a 1 year high of $37.70. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 0.95. The firm has a market cap of $14,920.00, a price-to-earnings ratio of -8.18 and a beta of 1.14.
Noble Energy (NYSE:NBL) last posted its quarterly earnings data on Tuesday, February 20th. The oil and gas development company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.28. Noble Energy had a negative net margin of 26.27% and a positive return on equity of 1.46%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the firm posted $0.26 EPS. Noble Energy’s quarterly revenue was up 18.9% on a year-over-year basis.
Several institutional investors have recently added to or reduced their stakes in NBL. Hexavest Inc. purchased a new stake in shares of Noble Energy in the 4th quarter worth about $38,964,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Noble Energy in the 4th quarter worth about $29,414,000. Alliancebernstein L.P. boosted its position in shares of Noble Energy by 22.4% in the 4th quarter. Alliancebernstein L.P. now owns 3,984,847 shares of the oil and gas development company’s stock worth $116,118,000 after buying an additional 728,937 shares in the last quarter. South Dakota Investment Council boosted its position in shares of Noble Energy by 76.0% in the 3rd quarter. South Dakota Investment Council now owns 1,379,863 shares of the oil and gas development company’s stock worth $39,133,000 after buying an additional 595,865 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Noble Energy by 16.2% in the 4th quarter. Bank of New York Mellon Corp now owns 4,258,901 shares of the oil and gas development company’s stock worth $124,105,000 after buying an additional 593,180 shares in the last quarter. Institutional investors and hedge funds own 94.47% of the company’s stock.
In related news, VP Gary W. Willingham bought 30,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were bought at an average cost of $26.00 per share, for a total transaction of $780,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas J. Edelman sold 200,000 shares of the business’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $26.99, for a total transaction of $5,398,000.00. Following the sale, the director now owns 2,952,878 shares in the company, valued at $79,698,177.22. The disclosure for this sale can be found here. 2.28% of the stock is currently owned by insiders.
Noble Energy announced that its board has approved a stock repurchase program on Thursday, February 15th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the oil and gas development company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, February 26th. Shareholders of record on Monday, February 12th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, February 9th. This represents a $0.40 annualized dividend and a dividend yield of 1.30%. Noble Energy’s payout ratio is currently -10.67%.
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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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