Noble Energy, Inc. (NYSE:NBL) – Equities research analysts at Imperial Capital cut their FY2019 earnings per share (EPS) estimates for Noble Energy in a report released on Monday, May 6th. Imperial Capital analyst I. Haas now forecasts that the oil and gas development company will post earnings of $0.24 per share for the year, down from their prior forecast of $0.33. Imperial Capital has a “Buy” rating and a $39.00 price objective on the stock. Imperial Capital also issued estimates for Noble Energy’s Q1 2020 earnings at $0.32 EPS, Q2 2020 earnings at $0.30 EPS, Q3 2020 earnings at $0.30 EPS, Q4 2020 earnings at $0.00 EPS and FY2020 earnings at $1.25 EPS.
Noble Energy (NYSE:NBL) last posted its quarterly earnings data on Friday, May 3rd. The oil and gas development company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.01). The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1 billion. Noble Energy had a negative net margin of 19.63% and a positive return on equity of 2.01%. The business’s revenue for the quarter was down 18.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.35 earnings per share.
A number of other research firms also recently weighed in on NBL. Barclays upgraded Noble Energy from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $26.00 to $33.00 in a report on Tuesday, April 30th. Morgan Stanley set a $35.00 price objective on Noble Energy and gave the company a “buy” rating in a report on Tuesday, January 29th. Stephens set a $35.00 price objective on Noble Energy and gave the company a “buy” rating in a report on Tuesday, February 26th. ValuEngine upgraded Noble Energy from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Finally, Mizuho upgraded Noble Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $28.00 to $29.00 in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $38.19.
NYSE NBL opened at $24.55 on Tuesday. The firm has a market capitalization of $11.74 billion, a P/E ratio of 27.28 and a beta of 1.38. Noble Energy has a twelve month low of $17.11 and a twelve month high of $37.76. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.12 per share. This is an increase from Noble Energy’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Friday, May 3rd. Noble Energy’s dividend payout ratio (DPR) is presently 53.33%.
In other Noble Energy news, Director James E. Craddock sold 9,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $23.62, for a total transaction of $212,580.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.81% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Legal & General Group Plc boosted its position in shares of Noble Energy by 5.8% during the 4th quarter. Legal & General Group Plc now owns 2,442,745 shares of the oil and gas development company’s stock worth $45,787,000 after purchasing an additional 134,069 shares in the last quarter. Gotham Asset Management LLC bought a new position in shares of Noble Energy during the 4th quarter worth about $297,000. AQR Capital Management LLC boosted its position in shares of Noble Energy by 887.5% during the 3rd quarter. AQR Capital Management LLC now owns 202,857 shares of the oil and gas development company’s stock worth $6,327,000 after purchasing an additional 182,314 shares in the last quarter. RNC Capital Management LLC boosted its position in shares of Noble Energy by 73.1% during the 1st quarter. RNC Capital Management LLC now owns 179,898 shares of the oil and gas development company’s stock worth $4,449,000 after purchasing an additional 75,975 shares in the last quarter. Finally, Guinness Asset Management Ltd boosted its position in shares of Noble Energy by 15.5% during the 4th quarter. Guinness Asset Management Ltd now owns 373,525 shares of the oil and gas development company’s stock worth $7,007,000 after purchasing an additional 50,000 shares in the last quarter. Hedge funds and other institutional investors own 97.74% 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. The company owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins.
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