Jefferies Group set a $40.00 target price on Noble Energy (NYSE:NBL) in a research report released on Monday morning. The firm currently has a buy rating on the oil and gas development company’s stock. Jefferies Group also issued estimates for Noble Energy’s Q1 2018 earnings at $0.21 EPS, Q2 2018 earnings at $0.18 EPS, Q3 2018 earnings at $0.19 EPS, Q4 2018 earnings at $0.24 EPS, FY2018 earnings at $0.81 EPS, Q1 2019 earnings at $0.25 EPS, Q2 2019 earnings at $0.27 EPS, Q3 2019 earnings at $0.31 EPS, Q4 2019 earnings at $0.35 EPS and FY2019 earnings at $1.19 EPS.
Several other equities analysts have also weighed in on the stock. Morgan Stanley upped their price objective on shares of Noble Energy from $36.00 to $39.00 and gave the company an overweight rating in a 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 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 report on Friday, December 15th. Bank of America upped their price objective on shares of Noble Energy from $52.00 to $57.00 and gave the company a buy rating in a report on Monday, February 26th. Finally, Credit Suisse Group started coverage on shares of Noble Energy in a report on Monday, December 11th. They set an outperform rating and a $35.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and twenty-one have assigned a buy rating to the stock. The company has an average rating of Buy and an average price target of $40.48.
Noble Energy stock opened at $30.99 on Monday. Noble Energy has a fifty-two week low of $22.99 and a fifty-two week high of $35.74. The firm has a market cap of $14,165.29, a PE ratio of -12.97 and a beta of 1.10. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.64.
Noble Energy (NYSE:NBL) last announced its quarterly earnings data on Tuesday, February 20th. The oil and gas development company reported $0.32 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the business earned $0.26 earnings per share. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. sell-side analysts forecast that Noble Energy will post 0.89 EPS for the current fiscal year.
Noble Energy announced that its Board of Directors has initiated a share buyback program on Thursday, February 15th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the oil and gas development company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Monday, February 12th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Friday, February 9th. Noble Energy’s payout ratio is -16.74%.
In other Noble Energy news, CFO Kenneth M. Fisher sold 7,621 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $28.80, for a total value of $219,484.80. Following the completion of the sale, the chief financial officer now directly owns 197,144 shares of the company’s stock, valued at approximately $5,677,747.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James E. Craddock sold 8,500 shares of the company’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $31.35, for a total transaction of $266,475.00. Following the completion of the sale, the director now directly owns 93,413 shares of the company’s stock, valued at $2,928,497.55. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Sawyer & Company Inc bought a new stake in Noble Energy in the 4th quarter worth about $169,000. Lourd Capital LLC bought a new position in shares of Noble Energy during the 4th quarter valued at approximately $203,000. Levin Capital Strategies L.P. bought a new position in shares of Noble Energy during the 4th quarter valued at approximately $219,000. FDx Advisors Inc. bought a new position in shares of Noble Energy during the 4th quarter valued at approximately $231,000. Finally, Assetmark Inc. grew its position in shares of Noble Energy by 355.5% during the 4th quarter. Assetmark Inc. now owns 8,558 shares of the oil and gas development company’s stock valued at $249,000 after acquiring an additional 6,679 shares during the period. 95.64% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION WARNING: “Jefferies Group Reiterates $40.00 Price Target for Noble Energy (NBL)” was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece of content on another publication, it was illegally copied and republished in violation of US and international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/03/22/jefferies-group-reiterates-40-00-price-target-for-noble-energy-nbl.html.
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.
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.