Noble Energy, Inc. (NYSE:NBL) – SunTrust Banks raised their FY2019 earnings per share estimates for Noble Energy in a research report issued on Tuesday, October 30th. SunTrust Banks analyst W. Fitzpatrick now forecasts that the oil and gas development company will post earnings of $1.09 per share for the year, up from their previous estimate of $0.90. SunTrust Banks also issued estimates for Noble Energy’s FY2020 earnings at $1.67 EPS.
Several other research analysts have also recently weighed in on NBL. TD Securities started coverage on Noble Energy in a research note on Thursday, July 5th. They issued a “buy” rating and a $45.00 price target for the company. Bank of America started coverage on Noble Energy in a research note on Tuesday, July 10th. They issued a “buy” rating and a $59.00 price target for the company. Morgan Stanley started coverage on Noble Energy in a research note on Thursday, July 12th. They issued an “equal weight” rating and a $39.00 price target for the company. Mitsubishi UFJ Financial Group boosted their price target on Noble Energy to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, July 19th. Finally, Mizuho started coverage on Noble Energy in a research note on Monday, July 23rd. They issued a “buy” rating and a $51.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $42.12.
Shares of NBL stock traded up $0.24 during mid-day trading on Friday, hitting $26.47. The company’s stock had a trading volume of 611,790 shares, compared to its average volume of 5,354,460. Noble Energy has a 52-week low of $23.83 and a 52-week high of $37.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $11.97 billion, a P/E ratio of 85.48, a P/E/G ratio of 2.61 and a beta of 0.97.
Noble Energy (NYSE:NBL) last released its earnings results on Thursday, November 1st. The oil and gas development company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.09. Noble Energy had a return on equity of 2.89% and a net margin of 19.01%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the company posted ($0.02) earnings per share. The company’s revenue for the quarter was up 32.6% compared to the same quarter last year.
A number of institutional investors have recently bought and sold shares of the stock. Artisan Partners Limited Partnership grew its holdings in Noble Energy by 12.1% during the second quarter. Artisan Partners Limited Partnership now owns 17,770,684 shares of the oil and gas development company’s stock valued at $626,950,000 after purchasing an additional 1,916,041 shares during the period. Jennison Associates LLC boosted its stake in shares of Noble Energy by 2.1% in the second quarter. Jennison Associates LLC now owns 7,754,063 shares of the oil and gas development company’s stock worth $273,563,000 after acquiring an additional 160,549 shares during the period. American Century Companies Inc. boosted its stake in shares of Noble Energy by 1.6% in the second quarter. American Century Companies Inc. now owns 7,460,070 shares of the oil and gas development company’s stock worth $263,191,000 after acquiring an additional 119,166 shares during the period. FMR LLC boosted its stake in shares of Noble Energy by 56.8% in the second quarter. FMR LLC now owns 7,170,389 shares of the oil and gas development company’s stock worth $252,972,000 after acquiring an additional 2,597,747 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Noble Energy by 1.2% in the second quarter. Northern Trust Corp now owns 5,891,531 shares of the oil and gas development company’s stock worth $207,853,000 after acquiring an additional 67,558 shares during the period. Institutional investors own 97.32% of the company’s stock.
In related news, major shareholder Nbl Midstream, Llc sold 14,137,198 shares of the company’s stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $17.75, for a total transaction of $250,935,264.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.96% of the stock is currently owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Investors of record on Monday, November 5th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Friday, November 2nd. Noble Energy’s dividend payout ratio (DPR) is presently 141.94%.
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. It owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins. It principal projects are primarily located in the US unconventional basins and various global offshore conventional basins.
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