Seaport Global Securities Comments on Noble Energy Inc.’s FY2017 Earnings (NBL)

Noble Energy Inc. (NYSE:NBL) – Stock analysts at Seaport Global Securities upped their FY2017 earnings per share estimates for shares of Noble Energy in a note issued to investors on Tuesday. Seaport Global Securities analyst M. Kelly now expects that the oil and gas development company will post earnings per share of ($0.01) for the year, up from their prior estimate of ($0.22). Seaport Global Securities currently has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Noble Energy’s Q4 2017 earnings at $0.01 EPS, Q1 2018 earnings at $0.12 EPS, Q2 2018 earnings at $0.12 EPS, Q3 2018 earnings at $0.13 EPS, Q4 2018 earnings at $0.12 EPS and FY2018 earnings at $0.49 EPS.

Noble Energy (NYSE:NBL) last issued its earnings results on Monday, October 30th. The oil and gas development company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.11. Noble Energy had a positive return on equity of 1.06% and a negative net margin of 45.85%. The company had revenue of $960.00 million for the quarter, compared to analysts’ expectations of $961.61 million. During the same period last year, the business earned ($0.07) EPS. Noble Energy’s quarterly revenue was up 5.5% compared to the same quarter last year.

Other equities analysts have also recently issued reports about the company. Credit Suisse Group assumed coverage on Noble Energy in a report on Monday, December 11th. They issued an “outperform” rating and a $35.00 target price on the stock. Royal Bank of Canada set a $37.00 price target on Noble Energy and gave the company a “buy” rating in a research report on Sunday, October 15th. Scotiabank set a $35.00 price target on Noble Energy and gave the company a “hold” rating in a research report on Saturday, November 25th. Stifel Nicolaus set a $41.00 price target on Noble Energy and gave the company a “buy” rating in a research report on Tuesday, November 28th. Finally, Cowen set a $40.00 price target on Noble Energy and gave the company a “buy” rating in a research report on Sunday, December 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $39.60.

Noble Energy (NYSE NBL) opened at $28.79 on Friday. Noble Energy has a twelve month low of $22.99 and a twelve month high of $40.89. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $14,050.00, a price-to-earnings ratio of -7.22 and a beta of 1.16.

In other Noble Energy news, CEO David L. Stover bought 19,000 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was purchased at an average cost of $26.31 per share, with a total value of $499,890.00. Following the transaction, the chief executive officer now directly owns 727,254 shares in the company, valued at approximately $19,134,052.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James E. Craddock sold 18,787 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $28.57, for a total value of $536,744.59. Following the sale, the director now directly owns 114,226 shares of the company’s stock, valued at $3,263,436.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 518,787 shares of company stock valued at $14,283,745. Insiders own 2.28% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Beach Investment Management LLC. purchased a new stake in Noble Energy in the 2nd quarter worth about $1,453,000. Global X Management Co. LLC increased its holdings in Noble Energy by 22.6% in the 2nd quarter. Global X Management Co. LLC now owns 6,993 shares of the oil and gas development company’s stock worth $198,000 after acquiring an additional 1,291 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Noble Energy by 9.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,635,368 shares of the oil and gas development company’s stock worth $46,281,000 after acquiring an additional 146,075 shares during the last quarter. State of Wisconsin Investment Board increased its holdings in Noble Energy by 11.7% in the 2nd quarter. State of Wisconsin Investment Board now owns 375,395 shares of the oil and gas development company’s stock worth $10,624,000 after acquiring an additional 39,290 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Noble Energy by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,634,169 shares of the oil and gas development company’s stock worth $102,846,000 after acquiring an additional 9,535 shares during the last quarter. 94.16% of the stock is owned by hedge funds and other institutional investors.

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Noble Energy Company Profile

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.

Earnings History and Estimates for Noble Energy (NYSE:NBL)

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