Jefferies Group Analysts Reduce Earnings Estimates for Noble Energy Inc. (NBL)
Noble Energy Inc. (NYSE:NBL) – Equities research analysts at Jefferies Group lowered their Q3 2017 EPS estimates for Noble Energy in a research note issued to investors on Tuesday. Jefferies Group analyst Z. Parham now forecasts that the oil and gas development company will post earnings per share of ($0.13) for the quarter, down from their previous forecast of ($0.04). Jefferies Group has a “Buy” rating and a $32.00 price objective on the stock. Jefferies Group also issued estimates for Noble Energy’s Q4 2017 earnings at $0.01 EPS, FY2017 earnings at ($0.08) EPS, Q1 2018 earnings at $0.04 EPS, Q2 2018 earnings at $0.03 EPS, Q3 2018 earnings at $0.10 EPS, Q4 2018 earnings at $0.12 EPS and FY2018 earnings at $0.29 EPS.
Other analysts also recently issued research reports about the company. Scotiabank reaffirmed a “hold” rating and set a $38.00 price objective on shares of Noble Energy in a research note on Friday, June 30th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $47.00 price objective on shares of Noble Energy in a research note on Tuesday, May 23rd. Citigroup Inc. dropped their price objective on Noble Energy from $45.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $43.00 price objective on shares of Noble Energy in a research note on Friday, May 26th. Finally, Tudor Pickering raised Noble Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Noble Energy has a consensus rating of “Buy” and a consensus price target of $41.11.
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Shares of Noble Energy (NYSE:NBL) opened at 23.72 on Thursday. Noble Energy has a 12-month low of $23.01 and a 12-month high of $42.03. The firm’s market cap is $11.20 billion. The firm has a 50-day moving average price of $26.53 and a 200 day moving average price of $31.13.
Noble Energy (NYSE:NBL) last posted its earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.18. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Noble Energy had a positive return on equity of 0.86% and a negative net margin of 46.63%. Noble Energy’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.24) earnings per share.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Monday, August 7th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.40 annualized dividend and a dividend yield of 1.69%. Noble Energy’s dividend payout ratio is -9.90%.
Several hedge funds have recently modified their holdings of NBL. Fifth Third Bancorp boosted its stake in shares of Noble Energy by 5.5% in the first quarter. Fifth Third Bancorp now owns 2,913 shares of the oil and gas development company’s stock valued at $100,000 after buying an additional 153 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Noble Energy during the second quarter valued at about $106,000. Private Advisor Group LLC purchased a new position in Noble Energy during the first quarter valued at about $132,000. Harbour Capital Advisors LLC purchased a new position in Noble Energy during the first quarter valued at about $136,000. Finally, Global X Management Co. LLC raised its position in Noble Energy by 30.1% in the first quarter. Global X Management Co. LLC now owns 5,702 shares of the oil and gas development company’s stock valued at $196,000 after buying an additional 1,319 shares during the last quarter. 91.83% of the stock is currently owned by institutional investors.
About Noble Energy
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.
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