Noble Energy Inc. (NBL) Downgraded by Jefferies Group LLC
Jefferies Group LLC cut shares of Noble Energy Inc. (NYSE:NBL) from a buy rating to a hold rating in a research report report published on Monday morning, Marketbeat.com reports. The firm currently has $29.00 price objective on the oil and gas development company’s stock. Jefferies Group also issued estimates for Noble Energy’s Q3 2017 earnings at ($0.13) EPS, Q4 2017 earnings at $0.00 EPS, FY2017 earnings at ($0.08) EPS, Q1 2018 earnings at $0.02 EPS, Q2 2018 earnings at $0.02 EPS, Q3 2018 earnings at $0.10 EPS, Q4 2018 earnings at $0.10 EPS, FY2018 earnings at $0.24 EPS, Q1 2019 earnings at $0.16 EPS, Q2 2019 earnings at $0.18 EPS, Q3 2019 earnings at $0.22 EPS and FY2019 earnings at $0.81 EPS.
Several other equities research analysts have also recently issued reports on the company. Citigroup Inc. reduced their target price on Noble Energy from $45.00 to $38.00 and set a buy rating on the stock in a report on Friday, July 21st. Scotiabank reaffirmed a hold rating and issued a $38.00 target price on shares of Noble Energy in a report on Friday, June 30th. Cowen and Company set a $35.00 target price on Noble Energy and gave the stock a buy rating in a report on Tuesday, July 18th. BidaskClub cut Noble Energy from a sell rating to a strong sell rating in a report on Friday, June 23rd. Finally, Seaport Global Securities cut Noble Energy from a neutral rating to a sell rating and reduced their target price for the stock from $36.00 to $23.00 in a report on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $41.02.
Shares of Noble Energy (NYSE NBL) traded down 1.37% during trading on Monday, reaching $27.41. The company’s stock had a trading volume of 362,097 shares. Noble Energy has a 12-month low of $22.99 and a 12-month high of $42.03. The company has a 50 day moving average of $26.18 and a 200 day moving average of $28.90. The company’s market cap is $12.94 billion.
Noble Energy (NYSE:NBL) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.18. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Noble Energy had a positive return on equity of 0.86% and a negative net margin of 46.63%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period last year, the firm earned ($0.24) earnings per share. On average, analysts anticipate that Noble Energy will post ($0.15) EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Fifth Third Bancorp increased its position in shares of Noble Energy by 5.5% during the first quarter. Fifth Third Bancorp now owns 2,913 shares of the oil and gas development company’s stock worth $100,000 after purchasing an additional 153 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Noble Energy during the second quarter worth $106,000. Harbour Capital Advisors LLC acquired a new position in shares of Noble Energy during the first quarter worth $136,000. Global X Management Co. LLC increased its position in shares of Noble Energy by 30.1% during the first quarter. Global X Management Co. LLC now owns 5,702 shares of the oil and gas development company’s stock worth $196,000 after purchasing an additional 1,319 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new position in shares of Noble Energy during the first quarter worth $201,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.
Noble Energy Company Profile
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.
Receive News & Ratings for Noble Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noble Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.