Equities Analysts Set Expectations for Noble Energy Inc.’s FY2017 Earnings (NBL)
Noble Energy Inc. (NYSE:NBL) – Investment analysts at Capital One Financial Corp. lifted their FY2017 earnings per share (EPS) estimates for Noble Energy in a research report issued on Thursday. Capital One Financial Corp. analyst P. Johnston now anticipates that the firm will post earnings per share of ($0.74) for the year, up from their prior forecast of ($0.77).
Noble Energy (NYSE:NBL) last announced its quarterly earnings data on Wednesday, August 3rd. The oil and gas development company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.05. The business had revenue of $847 million for the quarter, compared to analysts’ expectations of $909.36 million. Noble Energy had a negative net margin of 90.52% and a negative return on equity of 2.16%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the firm posted $0.26 earnings per share.
Other research analysts also recently issued reports about the stock. Stifel Nicolaus increased their target price on shares of Noble Energy from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, June 8th. Seaport Global Securities raised shares of Noble Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $36.00 to $45.00 in a research report on Tuesday, June 7th. Credit Suisse Group AG reissued a “buy” rating on shares of Noble Energy in a research report on Thursday, June 2nd. JPMorgan Chase & Co. reissued a “buy” rating on shares of Noble Energy in a research report on Wednesday, June 1st. Finally, Sterne Agee CRT raised shares of Noble Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $35.33 to $47.00 in a research report on Wednesday, May 25th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $41.10.
Shares of Noble Energy (NYSE:NBL) traded down 0.33% on Monday, reaching $33.43. 767,750 shares of the company were exchanged. Noble Energy has a 12-month low of $23.77 and a 12-month high of $39.85. The stock’s market capitalization is $14.37 billion. The firm has a 50 day moving average price of $34.93 and a 200-day moving average price of $34.83.
The company also recently declared a quarterly dividend, which was paid on Monday, August 22nd. Shareholders of record on Monday, August 8th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Thursday, August 4th. Noble Energy’s dividend payout ratio (DPR) is presently -5.88%.
In other news, Director Thomas J. Edelman sold 12,000 shares of Noble Energy stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $35.09, for a total transaction of $421,080.00. Following the sale, the director now owns 3,032,978 shares of the company’s stock, valued at approximately $106,427,198.02. The sale 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 Noble Energy stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $34.05, for a total transaction of $340,500.00. Following the sale, the director now directly owns 82,269 shares in the company, valued at approximately $2,801,259.45. The disclosure for this sale can be found here. 2.17% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the stock. Virginia Retirement System bought a new stake in shares of Noble Energy during the first quarter worth $793,000. Nisa Investment Advisors L.L.C. raised its stake in shares of Noble Energy by 24.2% in the first quarter. Nisa Investment Advisors L.L.C. now owns 124,068 shares of the oil and gas development company’s stock worth $3,897,000 after buying an additional 24,140 shares during the last quarter. Thomas White International Ltd. bought a new stake in shares of Noble Energy during the first quarter worth $496,000. Mn Services Vermogensbeheer B.V. bought a new stake in shares of Noble Energy during the first quarter worth $293,000. Finally, Glenmede Trust Co. NA raised its stake in shares of Noble Energy by 24.0% in the first quarter. Glenmede Trust Co. NA now owns 68,808 shares of the oil and gas development company’s stock worth $2,160,000 after buying an additional 13,330 shares during the last quarter. 93.85% of the stock is currently owned by hedge funds and other institutional investors.
Noble Energy Company Profile
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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