Jefferies Financial Group Equities Analysts Decrease Earnings Estimates for Noble Energy, Inc. (NBL)

Noble Energy, Inc. (NYSE:NBL) – Jefferies Financial Group decreased their Q3 2018 earnings per share estimates for Noble Energy in a report released on Monday, October 15th. Jefferies Financial Group analyst M. Lear now forecasts that the oil and gas development company will post earnings of $0.12 per share for the quarter, down from their prior forecast of $0.22. 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 Q1 2020 earnings at $0.65 EPS, Q2 2020 earnings at $0.70 EPS, Q3 2020 earnings at $0.77 EPS and FY2020 earnings at $2.91 EPS.

Noble Energy (NYSE:NBL) last released its quarterly earnings data on Friday, August 3rd. The oil and gas development company reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.05). Noble Energy had a net margin of 19.01% and a return on equity of 2.89%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the business earned $0.05 earnings per share. The business’s quarterly revenue was up 16.1% on a year-over-year basis.

A number of other analysts have also recently issued reports on NBL. TD Securities initiated coverage on Noble Energy in a research report on Thursday, July 5th. They issued a “buy” rating and a $45.00 price objective for the company. Bank of America began coverage on Noble Energy in a report on Tuesday, July 10th. They set a “buy” rating and a $59.00 price target for the company. Morgan Stanley began coverage on Noble Energy in a report on Thursday, July 12th. They set an “equal weight” rating and a $39.00 price target for the company. Mitsubishi UFJ Financial Group lifted their price target on Noble Energy to $52.00 and gave the stock an “overweight” rating in a report on Thursday, July 19th. Finally, Mizuho began coverage on Noble Energy in a report on Monday, July 23rd. They set a “buy” rating and a $51.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have given a buy rating to the stock. Noble Energy has an average rating of “Buy” and a consensus price target of $41.88.

NBL opened at $30.70 on Wednesday. Noble Energy has a 12-month low of $24.28 and a 12-month high of $37.76. The company has a market capitalization of $15.07 billion, a PE ratio of 99.16, a price-to-earnings-growth ratio of 3.14 and a beta of 0.96. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.58.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. United Capital Financial Advisers LLC raised its holdings in Noble Energy by 23.7% in the 1st quarter. United Capital Financial Advisers LLC now owns 9,510 shares of the oil and gas development company’s stock valued at $288,000 after acquiring an additional 1,823 shares in the last quarter. Amalgamated Bank raised its holdings in Noble Energy by 3.4% in 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 acquiring an additional 1,897 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Noble Energy by 1.3% in 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 acquiring an additional 1,915 shares in the last quarter. Glen Harbor Capital Management LLC raised its holdings in Noble Energy by 5.9% in 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 acquiring an additional 2,006 shares in the last quarter. Finally, Penn Davis Mcfarland Inc. raised its holdings in Noble Energy by 0.7% in the 2nd quarter. Penn Davis Mcfarland Inc. now owns 285,447 shares of the oil and gas development company’s stock valued at $10,071,000 after acquiring an additional 2,025 shares in the last quarter. 97.68% of the stock is owned by hedge funds and other institutional investors.

About Noble Energy

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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