Noble Energy, Inc. (NYSE:NBL) – Investment analysts at Oppenheimer cut their Q1 2019 earnings per share estimates for Noble Energy in a research note issued on Tuesday, February 19th. Oppenheimer analyst T. Rezvan now anticipates that the oil and gas development company will earn ($0.06) per share for the quarter, down from their previous estimate of $0.06. Oppenheimer has a “Hold” rating on the stock. Oppenheimer also issued estimates for Noble Energy’s Q2 2019 earnings at ($0.01) EPS and FY2019 earnings at $0.27 EPS.
Noble Energy (NYSE:NBL) last issued its earnings results on Tuesday, February 19th. The oil and gas development company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. Noble Energy had a negative net margin of 1.32% and a positive return on equity of 3.93%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business posted $0.32 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis.
NBL has been the subject of several other research reports. Tudor Pickering raised shares of Noble Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, November 7th. TD Securities dropped their price target on shares of Noble Energy from $42.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Stifel Nicolaus set a $46.00 price target on shares of Noble Energy and gave the company a “buy” rating in a research note on Thursday, November 1st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $37.00 price target on shares of Noble Energy in a research note on Monday, November 19th. Finally, Raymond James set a $32.00 price target on shares of Noble Energy and gave the company a “buy” rating in a research note on Wednesday, January 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the stock. Noble Energy currently has a consensus rating of “Buy” and an average price target of $39.13.
Shares of Noble Energy stock opened at $23.16 on Friday. Noble Energy has a fifty-two week low of $17.11 and a fifty-two week high of $37.76. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $11.40 billion, a price-to-earnings ratio of 25.73, a P/E/G ratio of 1.21 and a beta of 1.38.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Huntington National Bank raised its stake in Noble Energy by 59.2% during the fourth quarter. Huntington National Bank now owns 1,430 shares of the oil and gas development company’s stock worth $27,000 after buying an additional 532 shares during the last quarter. Pearl River Capital LLC acquired a new stake in Noble Energy in the fourth quarter worth $30,000. Rational Advisors LLC grew its holdings in Noble Energy by 2,271.8% in the fourth quarter. Rational Advisors LLC now owns 1,684 shares of the oil and gas development company’s stock worth $32,000 after purchasing an additional 1,613 shares during the period. Ayalon Holdings Ltd. acquired a new stake in Noble Energy in the fourth quarter worth $33,000. Finally, First Mercantile Trust Co. grew its holdings in Noble Energy by 1,750.0% in the fourth quarter. First Mercantile Trust Co. now owns 2,960 shares of the oil and gas development company’s stock worth $55,000 after purchasing an additional 2,800 shares during the period. 95.98% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Kenneth M. Fisher sold 16,564 shares of Noble Energy stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $22.89, for a total transaction of $379,149.96. Following the completion of the transaction, the chief financial officer now owns 215,854 shares of the company’s stock, valued at $4,940,898.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.96% of the stock is owned by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Monday, February 25th. Investors of record on Monday, February 11th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Friday, February 8th. Noble Energy’s dividend payout ratio is presently 48.89%.
About Noble Energy
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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