Noble Energy Inc. (NYSE:NBL) – Credit Agricole SA raised their Q3 2016 earnings estimates for shares of Noble Energy in a research report issued to clients and investors on Wednesday. Credit Agricole SA analyst A. Sen now forecasts that the firm will earn ($0.29) per share for the quarter, up from their prior estimate of ($0.30). Credit Agricole SA has a “Outperform” rating on the stock. Credit Agricole SA also issued estimates for Noble Energy’s FY2016 earnings at ($1.27) EPS and FY2017 earnings at ($0.92) EPS.
NBL has been the subject of several other reports. Citigroup Inc. upgraded Noble Energy from a “neutral” rating to a “buy” rating in a report on Thursday, July 7th. Barclays PLC reiterated a “buy” rating on shares of Noble Energy in a report on Sunday, July 17th. Johnson Rice reiterated a “buy” rating and issued a $21.00 price target (up from $19.00) on shares of Noble Energy in a report on Thursday, September 15th. Mizuho began coverage on Noble Energy in a report on Friday. They issued a “buy” rating and a $44.00 price target for the company. Finally, Wunderlich boosted their price target on Noble Energy from $44.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 6th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $40.23.
Noble Energy (NYSE:NBL) opened at 35.18 on Friday. The stock’s market capitalization is $15.13 billion. The company has a 50-day moving average price of $34.96 and a 200-day moving average price of $35.08. Noble Energy has a 12-month low of $23.77 and a 12-month high of $39.85.
Noble Energy (NYSE:NBL) last released its earnings results on Wednesday, August 3rd. The oil and gas development company reported ($0.24) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.05. The firm earned $847 million during the quarter, compared to analyst estimates of $909.36 million. Noble Energy had a negative return on equity of 2.16% and a negative net margin of 90.52%. Noble Energy’s revenue was up 14.8% compared to the same quarter last year. During the same period last year, the business posted $0.26 earnings per share.
In other Noble Energy news, Director Jeffrey L. Berenson sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $34.05, for a total value of $340,500.00. Following the sale, the director now owns 82,269 shares in the company, valued at $2,801,259.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas J. Edelman sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $33.62, for a total transaction of $403,440.00. Following the completion of the sale, the director now owns 3,032,978 shares in the company, valued at approximately $101,968,720.36. The disclosure for this sale can be found here. 2.17% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in NBL. Checchi Capital Advisers LLC raised its stake in shares of Noble Energy by 1.4% in the second quarter. Checchi Capital Advisers LLC now owns 3,592 shares of the oil and gas development company’s stock valued at $129,000 after buying an additional 49 shares during the last quarter. Advisor Group Inc. bought a new position in Noble Energy during the second quarter valued at about $136,000. Bessemer Group Inc. bought a new position in Noble Energy during the first quarter valued at about $150,000. Meeder Asset Management Inc. bought a new position in Noble Energy during the first quarter valued at about $153,000. Finally, Creative Planning boosted its position in Noble Energy by 34.7% in the second quarter. Creative Planning now owns 5,281 shares of the oil and gas development company’s stock valued at $189,000 after buying an additional 1,360 shares during the period. Institutional investors own 93.83% of the company’s stock.
About Noble Energy
Noble Energy, Inc is an independent energy company engaged in crude oil, natural gas and natural gas liquids (NGLs) exploration and production. The Company’s portfolio is diversified between short-term and long-term projects, domestic and international and a balanced production mix among crude oil, natural gas and NGLs.
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