Q3 2018 Earnings Forecast for Noble Energy, Inc. (NBL) Issued By Jefferies Financial Group
Noble Energy, Inc. (NYSE:NBL) – Equities research analysts at Jefferies Financial Group cut their Q3 2018 EPS estimates for shares of Noble Energy in a report released on Tuesday, August 7th. Jefferies Financial Group analyst M. Lear now forecasts that the oil and gas development company will post earnings of $0.22 per share for the quarter, down from their previous estimate of $0.29. Jefferies Financial Group currently has a “Buy” rating and a $46.00 target price on the stock. Jefferies Financial Group also issued estimates for Noble Energy’s Q4 2018 earnings at $0.27 EPS, FY2018 earnings at $1.18 EPS, Q1 2019 earnings at $0.40 EPS, Q2 2019 earnings at $0.37 EPS, Q3 2019 earnings at $0.36 EPS, Q4 2019 earnings at $0.47 EPS, FY2019 earnings at $1.60 EPS, Q1 2020 earnings at $0.64 EPS and Q2 2020 earnings at $0.69 EPS.
Other analysts have also recently issued reports about the stock. Johnson Rice upgraded shares of Noble Energy from an “accumulate” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday, April 25th. Stifel Nicolaus set a $44.00 price objective on shares of Noble Energy and gave the stock a “buy” rating in a research note on Tuesday, April 24th. Credit Suisse Group set a $40.00 price objective on shares of Noble Energy and gave the stock a “buy” rating in a research note on Friday, April 13th. Royal Bank of Canada set a $39.00 price objective on shares of Noble Energy and gave the stock a “buy” rating in a research note on Friday, April 13th. Finally, Bank of America began coverage on shares of Noble Energy in a research note on Tuesday, July 10th. They issued a “buy” rating and a $59.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $41.25.
Noble Energy (NYSE:NBL) last issued its quarterly earnings data on Friday, August 3rd. The oil and gas development company reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.05). Noble Energy had a return on equity of 2.89% and a net margin of 19.01%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the firm posted $0.05 earnings per share. Noble Energy’s quarterly revenue was up 16.1% compared to the same quarter last year.
Institutional investors have recently made changes to their positions in the business. Park National Corp OH bought a new stake in Noble Energy in the 2nd quarter valued at $2,455,000. James Investment Research Inc. bought a new stake in Noble Energy in the 2nd quarter valued at $2,101,000. Artisan Partners Limited Partnership increased its holdings in Noble Energy by 95.1% in the 1st quarter. Artisan Partners Limited Partnership now owns 15,854,643 shares of the oil and gas development company’s stock valued at $480,396,000 after buying an additional 7,730,137 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Noble Energy by 10.0% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 247,889 shares of the oil and gas development company’s stock valued at $7,511,000 after buying an additional 22,556 shares during the period. Finally, Virginia Retirement Systems ET AL increased its holdings in Noble Energy by 64.1% in the 1st quarter. Virginia Retirement Systems ET AL now owns 499,600 shares of the oil and gas development company’s stock valued at $15,138,000 after buying an additional 195,208 shares during the period. 98.66% of the stock is currently owned by hedge funds and other institutional investors.
In other Noble Energy news, major shareholder Nbl Midstream, Llc sold 7,475,000 shares of the business’s stock in a transaction on Friday, June 29th. The shares were sold at an average price of $18.03, for a total value of $134,774,250.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Gary W. Willingham sold 24,646 shares of the business’s stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $37.50, for a total transaction of $924,225.00. Following the completion of the sale, the vice president now directly owns 194,640 shares in the company, valued at approximately $7,299,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,508,406 shares of company stock valued at $136,022,595. Corporate insiders own 1.96% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 20th. Investors of record on Monday, August 6th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Friday, August 3rd. Noble Energy’s payout ratio is currently 141.94%.
Noble Energy Company Profile
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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