Noble Energy, Inc. Forecasted to Earn Q4 2018 Earnings of $0.10 Per Share (NBL)

Noble Energy, Inc. (NYSE:NBL) – Investment analysts at Piper Jaffray Companies lowered their Q4 2018 earnings estimates for shares of Noble Energy in a research note issued on Thursday, November 15th. Piper Jaffray Companies analyst R. Todd now forecasts that the oil and gas development company will earn $0.10 per share for the quarter, down from their previous estimate of $0.16. Piper Jaffray Companies currently has a “Overweight” rating on the stock.

A number of other analysts also recently issued reports on the stock. Tudor Pickering raised shares of Noble Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, November 7th. Raymond James raised shares of Noble Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, November 7th. TD Securities dropped their target price on shares of Noble Energy from $42.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, November 2nd. Stifel Nicolaus set a $46.00 target price on shares of Noble Energy and gave the stock a “buy” rating in a research report on Thursday, November 1st. Finally, Oppenheimer reissued a “hold” rating on shares of Noble Energy in a research report on Thursday, November 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $41.96.

NBL opened at $25.17 on Monday. The company has a market cap of $12.08 billion, a P/E ratio of 81.19, a price-to-earnings-growth ratio of 2.48 and a beta of 1.08. Noble Energy has a 1 year low of $23.83 and a 1 year high of $37.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81.

Noble Energy (NYSE:NBL) last posted its earnings results on Thursday, November 1st. The oil and gas development company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.09. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.16 billion. Noble Energy had a net margin of 25.09% and a return on equity of 4.82%. The company’s revenue was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.02) EPS.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Monday, November 5th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Friday, November 2nd. Noble Energy’s dividend payout ratio (DPR) is 141.94%.

In other Noble Energy news, major shareholder Nbl Midstream, Llc sold 14,137,198 shares of the stock in a transaction that occurred on Wednesday, September 26th. The shares were sold at an average price of $17.75, for a total value of $250,935,264.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.96% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of NBL. Amalgamated Bank boosted its stake in shares of Noble Energy by 3.4% during the 2nd quarter. Amalgamated Bank now owns 58,051 shares of the oil and gas development company’s stock valued at $2,048,000 after buying an additional 1,897 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Noble Energy by 1.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 152,805 shares of the oil and gas development company’s stock valued at $4,766,000 after buying an additional 1,915 shares during the last quarter. Glen Harbor Capital Management LLC boosted its stake in shares of Noble Energy by 5.9% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 36,176 shares of the oil and gas development company’s stock valued at $1,276,000 after buying an additional 2,006 shares during the last quarter. Whittier Trust Co. purchased a new position in shares of Noble Energy during the 2nd quarter valued at approximately $163,000. Finally, Greenwood Capital Associates LLC boosted its stake in shares of Noble Energy by 10.1% during the 2nd quarter. Greenwood Capital Associates LLC now owns 23,007 shares of the oil and gas development company’s stock valued at $812,000 after buying an additional 2,120 shares during the last quarter. 98.52% of the stock is owned by institutional investors.

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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Earnings History and Estimates for Noble Energy (NYSE:NBL)

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