Q2 2018 EPS Estimates for Noble Energy, Inc. Lifted by Seaport Global Securities (NBL)
Noble Energy, Inc. (NYSE:NBL) – Equities research analysts at Seaport Global Securities upped their Q2 2018 earnings per share estimates for Noble Energy in a report issued on Monday. Seaport Global Securities analyst M. Kelly now forecasts that the oil and gas development company will earn $0.13 per share for the quarter, up from their prior estimate of $0.12. Seaport Global Securities has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Noble Energy’s Q3 2018 earnings at $0.14 EPS and FY2018 earnings at $0.51 EPS.
Several other equities analysts also recently commented on NBL. BMO Capital Markets set a $33.00 price target on shares of Noble Energy and gave the company a “buy” rating in a report on Tuesday, October 10th. Barclays upped their price target on shares of Noble Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Wednesday, October 11th. Royal Bank of Canada set a $37.00 price target on shares of Noble Energy and gave the company a “buy” rating in a report on Sunday, October 15th. Morgan Stanley upped their price target on shares of Noble Energy from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $35.00 price target on shares of Noble Energy in a report on Friday, November 17th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nineteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $39.89.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its position in shares of Noble Energy by 3.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 9,135 shares of the oil and gas development company’s stock worth $259,000 after purchasing an additional 293 shares during the period. Energy Opportunities Capital Management LLC lifted its position in shares of Noble Energy by 0.4% in the 2nd quarter. Energy Opportunities Capital Management LLC now owns 68,867 shares of the oil and gas development company’s stock worth $1,949,000 after purchasing an additional 305 shares during the period. Gofen & Glossberg LLC IL lifted its position in shares of Noble Energy by 5.3% in the 2nd quarter. Gofen & Glossberg LLC IL now owns 9,129 shares of the oil and gas development company’s stock worth $258,000 after purchasing an additional 456 shares during the period. Nordea Investment Management AB lifted its position in shares of Noble Energy by 2.8% in the 2nd quarter. Nordea Investment Management AB now owns 19,763 shares of the oil and gas development company’s stock worth $559,000 after purchasing an additional 543 shares during the period. Finally, Sentry Investment Management LLC lifted its position in shares of Noble Energy by 1.9% in the 2nd quarter. Sentry Investment Management LLC now owns 34,495 shares of the oil and gas development company’s stock worth $976,000 after purchasing an additional 650 shares during the period. 94.59% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Thomas J. Edelman sold 300,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $27.83, for a total value of $8,349,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Gary W. Willingham purchased 30,000 shares of the stock in a transaction dated Wednesday, November 29th. The stock was acquired at an average cost of $26.00 per share, with a total value of $780,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders sold 507,621 shares of company stock valued at $13,966,485. 2.28% of the stock is owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 26th. Shareholders of record on Monday, February 12th will be given a $0.10 dividend. The ex-dividend date is Friday, February 9th. This represents a $0.40 annualized dividend and a yield of 1.42%. Noble Energy’s dividend payout ratio (DPR) is -10.03%.
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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