Q2 2019 Earnings Estimate for Noble Energy, Inc. (NYSE:NBL) Issued By Jefferies Financial Group

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Noble Energy, Inc. (NYSE:NBL) – Equities researchers at Jefferies Financial Group cut their Q2 2019 EPS estimates for shares of Noble Energy in a research note issued to investors on Monday, July 15th. Jefferies Financial Group analyst M. Lear now forecasts that the oil and gas development company will earn ($0.11) per share for the quarter, down from their prior forecast of ($0.10). Jefferies Financial Group also issued estimates for Noble Energy’s Q3 2019 earnings at ($0.14) EPS, Q4 2019 earnings at ($0.04) EPS, FY2019 earnings at ($0.36) EPS, Q2 2020 earnings at ($0.12) EPS, Q3 2020 earnings at ($0.06) EPS, FY2020 earnings at ($0.21) EPS, Q2 2021 earnings at $0.04 EPS and FY2021 earnings at $0.35 EPS.

Several other analysts also recently weighed in on the company. Barclays reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, April 30th. Capital One Financial upgraded Cimarex Energy from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. TD Securities boosted their price objective on Westshore Terminals Investment from C$20.00 to C$21.00 and gave the company a “hold” rating in a research report on Monday, May 6th. Mitsubishi UFJ Financial Group lowered their price objective on Noble Energy to $34.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Finally, ValuEngine raised ZIX from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $37.07.

Shares of NBL stock opened at $20.84 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.66. Noble Energy has a fifty-two week low of $17.11 and a fifty-two week high of $36.27. The company has a 50 day moving average of $21.42. The company has a market capitalization of $9.78 billion, a P/E ratio of 23.16 and a beta of 1.44.

Noble Energy (NYSE:NBL) last announced its quarterly earnings data on Friday, May 3rd. The oil and gas development company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.01). Noble Energy had a negative net margin of 19.63% and a positive return on equity of 2.05%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the firm posted $0.35 EPS. The business’s revenue for the quarter was down 18.2% compared to the same quarter last year.

A number of hedge funds have recently modified their holdings of the stock. NuWave Investment Management LLC lifted its holdings in shares of Noble Energy by 719.3% during the second quarter. NuWave Investment Management LLC now owns 1,147 shares of the oil and gas development company’s stock valued at $26,000 after purchasing an additional 1,007 shares in the last quarter. NEXT Financial Group Inc bought a new position in shares of Noble Energy during the second quarter valued at $76,000. CWM Advisors LLC lifted its holdings in shares of Noble Energy by 20.5% during the second quarter. CWM Advisors LLC now owns 23,504 shares of the oil and gas development company’s stock valued at $526,000 after purchasing an additional 3,998 shares in the last quarter. IFM Investors Pty Ltd lifted its holdings in shares of Noble Energy by 30.5% during the second quarter. IFM Investors Pty Ltd now owns 37,038 shares of the oil and gas development company’s stock valued at $830,000 after purchasing an additional 8,664 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Noble Energy by 2.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 51,436 shares of the oil and gas development company’s stock valued at $1,152,000 after purchasing an additional 1,265 shares in the last quarter. 99.16% of the stock is currently owned by institutional investors.

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. The company owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins.

Further Reading: Understanding debt-to-equity ratio in fundamental analysis

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

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