Capital One Financial Comments on Noble Energy, Inc.’s FY2018 Earnings (NYSE:NBL)

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Noble Energy, Inc. (NYSE:NBL) – Equities research analysts at Capital One Financial lowered their FY2018 earnings estimates for shares of Noble Energy in a report issued on Tuesday, September 18th, according to Zacks Investment Research. Capital One Financial analyst P. Johnston now anticipates that the oil and gas development company will earn $0.96 per share for the year, down from their previous estimate of $1.19. Capital One Financial also issued estimates for Noble Energy’s Q4 2018 earnings at $0.22 EPS and FY2019 earnings at $1.13 EPS.

Noble Energy (NYSE:NBL) last posted its quarterly earnings data on Friday, August 3rd. The oil and gas development company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.05). Noble Energy had a return on equity of 2.89% and a net margin of 19.01%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the company posted $0.05 earnings per share. Noble Energy’s revenue for the quarter was up 16.1% compared to the same quarter last year.

A number of other research firms have also recently issued reports on NBL. Bank of America assumed coverage on Noble Energy in a report on Tuesday, July 10th. They issued a “buy” rating and a $59.00 price objective for the company. Morgan Stanley assumed coverage on Noble Energy in a report on Thursday, July 12th. They issued an “equal weight” rating and a $39.00 price objective for the company. Mitsubishi UFJ Financial Group upped their price objective on Noble Energy to $52.00 and gave the stock an “overweight” rating in a report on Thursday, July 19th. TD Securities assumed coverage on Noble Energy in a report on Thursday, July 5th. They issued a “buy” rating and a $45.00 price objective for the company. Finally, Mizuho assumed coverage on Noble Energy in a report on Monday, July 23rd. They issued a “buy” rating and a $51.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $41.88.

Shares of NBL traded up $0.63 during midday trading on Friday, reaching $31.61. The stock had a trading volume of 4,937,948 shares, compared to its average volume of 4,586,195. Noble Energy has a 12-month low of $24.28 and a 12-month high of $37.76. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $15.07 billion, a P/E ratio of 101.97, a PEG ratio of 3.14 and a beta of 0.96.

In related news, major shareholder Nbl Midstream, Llc sold 14,137,198 shares of the stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of $17.75, for a total transaction of $250,935,264.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.96% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. United Capital Financial Advisers LLC raised its position in Noble Energy by 23.7% during the 1st quarter. United Capital Financial Advisers LLC now owns 9,510 shares of the oil and gas development company’s stock valued at $288,000 after purchasing an additional 1,823 shares during the last quarter. US Bancorp DE raised its position in Noble Energy by 7.8% during the 1st quarter. US Bancorp DE now owns 25,330 shares of the oil and gas development company’s stock valued at $767,000 after purchasing an additional 1,842 shares during the last quarter. Amalgamated Bank raised its position in Noble Energy by 3.4% during the 2nd quarter. Amalgamated Bank now owns 58,051 shares of the oil and gas development company’s stock valued at $2,048,000 after purchasing an additional 1,897 shares during the last quarter. Glen Harbor Capital Management LLC raised its position in Noble Energy by 5.9% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 36,176 shares of the oil and gas development company’s stock valued at $1,276,000 after purchasing an additional 2,006 shares during the last quarter. Finally, Penn Davis Mcfarland Inc. raised its position in Noble Energy by 0.7% during the 2nd quarter. Penn Davis Mcfarland Inc. now owns 285,447 shares of the oil and gas development company’s stock valued at $10,071,000 after purchasing an additional 2,025 shares during the last quarter. 97.68% of the stock is owned by institutional investors and hedge funds.

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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