Noble Energy, Inc. (NYSE:NBL) – Stock analysts at Seaport Global Securities boosted their Q1 2018 EPS estimates for shares of Noble Energy in a note issued to investors on Thursday. Seaport Global Securities analyst M. Kelly now anticipates that the oil and gas development company will post earnings per share of $0.22 for the quarter, up from their prior estimate of $0.12. Seaport Global Securities currently has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Noble Energy’s Q2 2018 earnings at $0.22 EPS, Q3 2018 earnings at $0.22 EPS, Q4 2018 earnings at $0.23 EPS and FY2018 earnings at $0.89 EPS.
Noble Energy (NYSE:NBL) last announced its quarterly earnings data on Tuesday, February 20th. The oil and gas development company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.28. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.18 billion. Noble Energy had a positive return on equity of 1.46% and a negative net margin of 26.27%. The company’s revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.26 earnings per share.
Noble Energy (NYSE NBL) opened at $31.43 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $15,290.00, a PE ratio of -8.38 and a beta of 1.14. Noble Energy has a 1-year low of $22.99 and a 1-year high of $37.33.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. boosted its holdings in Noble Energy by 3.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 9,135 shares of the oil and gas development company’s stock valued at $259,000 after purchasing an additional 293 shares during the period. Nationwide Fund Advisors boosted its holdings in Noble Energy by 2.5% in the third quarter. Nationwide Fund Advisors now owns 765,933 shares of the oil and gas development company’s stock valued at $21,722,000 after purchasing an additional 18,528 shares during the period. Xact Kapitalforvaltning AB boosted its holdings in Noble Energy by 4.9% in the third quarter. Xact Kapitalforvaltning AB now owns 41,203 shares of the oil and gas development company’s stock valued at $1,169,000 after purchasing an additional 1,943 shares during the period. First Trust Advisors LP boosted its holdings in Noble Energy by 27.3% in the third quarter. First Trust Advisors LP now owns 1,050,176 shares of the oil and gas development company’s stock valued at $29,783,000 after purchasing an additional 225,302 shares during the period. Finally, Highstreet Asset Management Inc. boosted its holdings in Noble Energy by 69.3% in the third quarter. Highstreet Asset Management Inc. now owns 70,082 shares of the oil and gas development company’s stock valued at $1,988,000 after purchasing an additional 28,679 shares during the period. Institutional investors and hedge funds own 94.47% of the company’s stock.
In other news, CFO Kenneth M. Fisher sold 7,621 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $28.80, for a total transaction of $219,484.80. Following the completion of the transaction, the chief financial officer now directly owns 197,144 shares in the company, valued at $5,677,747.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Gary W. Willingham purchased 30,000 shares of the stock in a transaction dated Wednesday, November 29th. The shares were purchased at an average price of $26.00 per share, with a total value of $780,000.00. The disclosure for this purchase can be found here. Company insiders own 2.28% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Monday, February 12th were given a dividend of $0.10 per share. The ex-dividend date was Friday, February 9th. This represents a $0.40 annualized dividend and a dividend yield of 1.27%. Noble Energy’s dividend payout ratio is currently -10.67%.
Noble Energy declared that its board has initiated a share buyback plan on Thursday, February 15th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the oil and gas development company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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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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