Q3 2016 Earnings Estimate for Noble Energy Inc. (NBL) Issued By Seaport Global Securities
Noble Energy Inc. (NYSE:NBL) – Equities researchers at Seaport Global Securities dropped their Q3 2016 earnings per share estimates for Noble Energy in a research report issued to clients and investors on Wednesday. Seaport Global Securities analyst M. Kelly now forecasts that the firm will earn ($0.29) per share for the quarter, down from their prior estimate of ($0.28). Seaport Global Securities also issued estimates for Noble Energy’s FY2016 earnings at ($1.25) EPS.
Noble Energy (NYSE:NBL) last released its earnings results on Wednesday, August 3rd. The oil and gas development company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.05. The business earned $847 million during the quarter, compared to the consensus estimate of $909.36 million. Noble Energy had a negative net margin of 90.52% and a negative return on equity of 2.16%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS.
A number of other analysts also recently issued reports on the company. Mizuho began coverage on Noble Energy in a research report on Friday. They set a “buy” rating and a $44.00 price target for the company. Nomura restated a “buy” rating and issued a $17.00 target price on shares of Noble Energy in a research report on Monday, September 26th. Johnson Rice restated a “buy” rating and issued a $21.00 target price (up previously from $19.00) on shares of Noble Energy in a research report on Thursday, September 15th. JPMorgan Chase & Co. restated a “buy” rating on shares of Noble Energy in a research report on Monday, July 18th. Finally, Barclays PLC restated a “buy” rating on shares of Noble Energy in a research report on Sunday, July 17th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-three have given a buy rating to the company. Noble Energy currently has a consensus rating of “Buy” and a consensus target price of $40.23.
Noble Energy (NYSE:NBL) opened at 35.18 on Friday. The company’s market capitalization is $15.13 billion. The firm’s 50 day moving average price is $34.96 and its 200-day moving average price is $35.08. Noble Energy has a 12-month low of $23.77 and a 12-month high of $39.85.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Checchi Capital Advisers LLC increased its position in Noble Energy by 1.4% in the second quarter. Checchi Capital Advisers LLC now owns 3,592 shares of the oil and gas development company’s stock worth $129,000 after buying an additional 49 shares in the last quarter. Advisor Group Inc. bought a new stake in shares of Noble Energy during the second quarter worth approximately $136,000. Bessemer Group Inc. bought a new stake in shares of Noble Energy during the first quarter worth approximately $150,000. Meeder Asset Management Inc. bought a new stake in shares of Noble Energy during the first quarter worth approximately $153,000. Finally, Creative Planning boosted its stake in shares of Noble Energy by 34.7% in the second quarter. Creative Planning now owns 5,281 shares of the oil and gas development company’s stock worth $189,000 after buying an additional 1,360 shares during the last quarter. 93.83% of the stock is currently owned by institutional investors.
In other Noble Energy news, Director Jeffrey L. Berenson sold 10,000 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $34.05, for a total value of $340,500.00. Following the transaction, the director now owns 82,269 shares of the company’s stock, valued at $2,801,259.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas J. Edelman sold 12,000 shares of the stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $33.62, for a total value of $403,440.00. Following the completion of the transaction, the director now directly owns 3,032,978 shares in the company, valued at approximately $101,968,720.36. The disclosure for this sale can be found here. Insiders own 2.17% of the company’s stock.
About Noble Energy
Noble Energy, Inc is an independent energy company engaged in crude oil, natural gas and natural gas liquids (NGLs) exploration and production. The Company’s portfolio is diversified between short-term and long-term projects, domestic and international and a balanced production mix among crude oil, natural gas and NGLs.
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