Stock Update (NYSE:NBL): Noble Energy Provides Gulf of Mexico Drilling Update

[GlobeNewswire] – Houston, April 08, 2016– Noble Energy, Inc. today announced that drilling operations at the Silvergate exploration well, drilled on Mississippi Canyon Block 339, have been completed. The well did not … Read more on this. Noble Energy, Inc. (NBL) , valued at $13.84B, opened this morning at $31.95. Shares have traded today between $31.40 and $32.27 per share and has traded between $23.77 and $53.68 over the past 12 months. NBL shares are currently priced at -25.01x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s -0.48x forward p/e ratio. And for dividend hunters, the company pays shareholders $0.40 per share annually in dividends, yielding 1.33%. Consensus earnings for the current quarter by the 30 sell-side analysts covering the stock is an estimate of $-0.49 per share, which would be $0.03 better than the year-ago quarter and a $0.00 sequential increase. The full-year EPS estimate is $-1.24 which would be a $1.76 setback than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $793.65 Million. If realized, that would be a 4.57% increase over the year-ago quarter. In terms of ratings, Tudor Pickering downgraded NBL from Buy to Hold (Mar 28, 2016). Previously, Nomura upgraded NBL from Neutral to Buy. With the above information in mind, readers should note that the average price target is $38.25, which is 19.72% above where the stock opened this morning. See more in (NYSE:NBL) Similar Articles: Market Update: Noble Energy Inc (NYSE:NBL) – Noble Energy Enhances Financial Flexibility With Debt Refinancing Stock Update (NYSE:NBL): Noble Energy to Present at Upcoming Energy Conference Company Update (NYSE:NBL): Noble Energy Announces Filing of Registration Statement for Initial Public Offering of Noble Midstream Partners LP
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