Noble Energy, Inc. (NYSE:NBL) – Research analysts at Piper Jaffray Companies cut their FY2018 earnings per share estimates for Noble Energy in a research report issued to clients and investors on Wednesday, January 9th. Piper Jaffray Companies analyst R. Todd now expects that the oil and gas development company will earn $0.87 per share for the year, down from their prior forecast of $0.89. Piper Jaffray Companies currently has a “Buy” rating and a $37.00 target price on the stock. Piper Jaffray Companies also issued estimates for Noble Energy’s Q4 2018 earnings at $0.08 EPS.
Noble Energy (NYSE:NBL) last issued its quarterly earnings data on Thursday, November 1st. The oil and gas development company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.09. Noble Energy had a return on equity of 4.82% and a net margin of 25.09%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the company posted ($0.02) earnings per share. Noble Energy’s revenue was up 32.6% compared to the same quarter last year.
NBL has been the subject of several other research reports. Mizuho set a $28.00 price objective on Noble Energy and gave the stock a “hold” rating in a report on Wednesday, November 28th. Capital One Financial lowered Noble Energy from an “overweight” rating to an “underweight” rating in a report on Thursday, December 20th. Morgan Stanley raised Noble Energy from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $37.00 to $33.00 in a report on Wednesday. Stephens assumed coverage on Noble Energy in a report on Thursday, December 6th. They issued an “overweight” rating and a $40.00 price objective for the company. Finally, TD Securities cut their price objective on Noble Energy from $42.00 to $39.00 and set a “buy” rating for the company in a report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $40.37.
Shares of NBL opened at $22.19 on Thursday. 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 has a one year low of $17.11 and a one year high of $37.76. The firm has a market capitalization of $10.67 billion, a P/E ratio of 71.58, a PEG ratio of 0.68 and a beta of 1.26.
Large investors have recently bought and sold shares of the stock. Chicago Equity Partners LLC purchased a new stake in shares of Noble Energy in the second quarter worth about $204,000. BB&T Corp purchased a new stake in shares of Noble Energy in the third quarter worth about $211,000. Lourd Capital LLC purchased a new stake in shares of Noble Energy in the third quarter worth about $220,000. Raymond James Trust N.A. purchased a new stake in shares of Noble Energy in the third quarter worth about $231,000. Finally, Fulton Bank N.A. purchased a new stake in shares of Noble Energy in the third quarter worth about $235,000. Institutional investors own 98.68% 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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