Noble Energy, Inc. (NYSE:NBL) – Equities research analysts at Oppenheimer dropped their Q1 2019 EPS estimates for shares of Noble Energy in a note issued to investors on Wednesday, April 3rd. Oppenheimer analyst T. Rezvan now forecasts that the oil and gas development company will post earnings of ($0.10) per share for the quarter, down from their previous estimate of ($0.06).
Noble Energy (NYSE:NBL) last announced its earnings results on Tuesday, February 19th. The oil and gas development company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01. Noble Energy had a positive return on equity of 3.93% and a negative net margin of 1.32%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the firm earned $0.32 earnings per share. The company’s revenue was down .3% on a year-over-year basis.
A number of other equities research analysts have also weighed in on the company. ValuEngine upgraded Noble Energy from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Stephens set a $35.00 target price on Noble Energy and gave the company a “buy” rating in a research report on Tuesday, February 26th. Mizuho upgraded Noble Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $28.00 to $29.00 in a research note on Tuesday, March 19th. Imperial Capital set a $39.00 target price on Noble Energy and gave the company a “buy” rating in a research note on Wednesday, February 20th. Finally, UBS Group set a $34.00 price target on shares of Noble Energy and gave the stock a “buy” rating in a research note on Wednesday, February 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $38.97.
NYSE:NBL opened at $25.73 on Friday. The stock has a market capitalization of $12.03 billion, a P/E ratio of 28.59 and a beta of 1.35. Noble Energy has a one year low of $17.11 and a one year high of $37.76. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.
Several hedge funds and other institutional investors have recently bought and sold shares of NBL. Capital International Investors raised its stake in Noble Energy by 5,125.4% during the third quarter. Capital International Investors now owns 43,365,048 shares of the oil and gas development company’s stock worth $1,352,556,000 after acquiring an additional 42,535,159 shares in the last quarter. Norges Bank bought a new position in Noble Energy during the fourth quarter worth $81,451,000. Boston Partners raised its stake in Noble Energy by 36.8% during the fourth quarter. Boston Partners now owns 14,419,600 shares of the oil and gas development company’s stock worth $270,511,000 after buying an additional 3,881,212 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Noble Energy by 1,843.9% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,948,365 shares of the oil and gas development company’s stock valued at $55,311,000 after buying an additional 2,796,692 shares during the period. Finally, Lord Abbett & CO. LLC lifted its holdings in Noble Energy by 228.2% in the fourth quarter. Lord Abbett & CO. LLC now owns 3,883,465 shares of the oil and gas development company’s stock valued at $72,854,000 after buying an additional 2,700,096 shares during the period. 97.80% of the stock is owned by institutional investors and hedge funds.
In other Noble Energy news, CFO Kenneth M. Fisher sold 16,564 shares of the business’s stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $22.89, for a total transaction of $379,149.96. Following the completion of the sale, the chief financial officer now owns 215,854 shares in the company, valued at $4,940,898.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James E. Craddock sold 9,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $23.62, for a total transaction of $212,580.00. The disclosure for this sale can be found here. Company insiders own 1.81% of the company’s stock.
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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