Brokers Issue Forecasts for Noble Energy Inc.’s FY2018 Earnings (NBL)
Noble Energy Inc. (NYSE:NBL) – Analysts at Credit Agricole SA lifted their FY2018 earnings estimates for shares of Noble Energy in a note issued to investors on Thursday. Credit Agricole SA analyst A. Sen now anticipates that the firm will post earnings per share of $0.04 for the year, up from their previous forecast of ($0.03).
Several other research firms have also weighed in on NBL. Credit Suisse Group AG reissued a “buy” rating on shares of Noble Energy in a report on Thursday, November 10th. Nomura reaffirmed a “buy” rating and set a $41.00 price objective on shares of Noble Energy in a research note on Monday, November 7th. Jefferies Group reaffirmed a “buy” rating and set a $45.00 price objective on shares of Noble Energy in a research note on Thursday, November 3rd. Bank of America Corp. reaffirmed a “hold” rating on shares of Noble Energy in a research note on Thursday. Finally, Seaport Global Securities lowered Noble Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $45.00 to $38.00 in a research note on Thursday. Three analysts have rated the stock with a sell rating, five have given a hold rating and twenty-one have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $40.71.
Shares of Noble Energy (NYSE:NBL) opened at 35.00 on Monday. The stock’s market capitalization is $15.05 billion. The firm’s 50-day moving average is $35.94 and its 200-day moving average is $35.57. Noble Energy has a 52 week low of $23.77 and a 52 week high of $38.62.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 21st. Stockholders of record on Monday, November 7th will be given a $0.10 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $0.40 annualized dividend and a dividend yield of 1.14%. Noble Energy’s payout ratio is -6.19%.
In related news, Director Thomas J. Edelman sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $33.62, for a total transaction of $403,440.00. Following the completion of the transaction, the director now owns 3,032,978 shares in the company, valued at approximately $101,968,720.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey L. Berenson sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The shares were 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 approximately $2,801,259.45. The disclosure for this sale can be found here. 2.17% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBL. BP PLC bought a new position in Noble Energy during the second quarter worth about $1,972,000. Strs Ohio raised its position in Noble Energy by 10.1% in the second quarter. Strs Ohio now owns 1,455,163 shares of the oil and gas development company’s stock worth $52,196,000 after buying an additional 133,449 shares in the last quarter. Carmignac Gestion bought a new position in Noble Energy during the second quarter worth about $218,343,000. Capital Fund Management S.A. bought a new position in Noble Energy during the second quarter worth about $22,382,000. Finally, National Investment Services Inc. WI raised its position in Noble Energy by 119.4% in the second quarter. National Investment Services Inc. WI now owns 85,122 shares of the oil and gas development company’s stock worth $3,053,000 after buying an additional 46,332 shares in the last quarter. Institutional investors and hedge funds own 95.38% 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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