Noble Energy Inc. (NYSE:NBL) – Jefferies Group issued their Q1 2019 earnings per share (EPS) estimates for shares of Noble Energy in a research note issued on Monday. Jefferies Group analyst M. Lear anticipates that the oil and gas development company will post earnings of $0.16 per share for the quarter. Jefferies Group has a “Hold” rating and a $29.00 price objective on the stock. Jefferies Group also issued estimates for Noble Energy’s Q2 2019 earnings at $0.18 EPS, Q3 2019 earnings at $0.22 EPS and FY2019 earnings at $0.81 EPS.
Noble Energy (NYSE:NBL) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.18. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Noble Energy had a negative net margin of 46.63% and a positive return on equity of 0.86%. The firm’s revenue was up 25.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.24) EPS.
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Other equities research analysts have also issued reports about the stock. BMO Capital Markets reaffirmed a “buy” rating and set a $45.00 price target on shares of Noble Energy in a report on Thursday, June 22nd. Citigroup Inc. lowered their price target on shares of Noble Energy from $45.00 to $38.00 and set a “buy” rating for the company in a report on Friday, July 21st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $38.00 price target on shares of Noble Energy in a report on Thursday, July 20th. Cowen and Company set a $35.00 price target on shares of Noble Energy and gave the company a “buy” rating in a report on Tuesday, July 18th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $39.00 price target on shares of Noble Energy in a report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $41.02.
Hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp boosted its stake in shares of Noble Energy by 5.5% during the first quarter. Fifth Third Bancorp now owns 2,913 shares of the oil and gas development company’s stock valued at $100,000 after purchasing an additional 153 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Noble Energy during the second quarter valued at about $106,000. Harbour Capital Advisors LLC acquired a new stake in shares of Noble Energy during the first quarter valued at about $136,000. Global X Management Co. LLC boosted its stake in shares of Noble Energy by 30.1% during the first quarter. Global X Management Co. LLC now owns 5,702 shares of the oil and gas development company’s stock valued at $196,000 after purchasing an additional 1,319 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in shares of Noble Energy during the first quarter valued at about $201,000. 91.64% of the stock is currently owned by hedge funds and other institutional investors.
About Noble Energy
Noble Energy, Inc is an independent energy company. The Company is engaged in crude oil, natural gas and natural gas and natural gas liquids (NGLs) exploration, development, production and acquisition. The Company’s segments include: United States, including the onshore DJ Basin, Permian Basin, Eagle Ford Shale, Marcellus Shale and offshore deepwater Gulf of Mexico, as well as the consolidated accounts of Noble Midstream Partners LP (Noble Midstream Partners); Eastern Mediterranean, including offshore Israel and Cyprus; West Africa, including offshore Equatorial Guinea, Cameroon and Gabon, and Other International and Corporate, including new ventures, such as offshore the Falkland Islands, Suriname and Newfoundland.
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