Wall Street analysts expect that Noble Energy, Inc. (NYSE:NBL) will report sales of $1.23 billion for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Noble Energy’s earnings. The highest sales estimate is $1.36 billion and the lowest is $1.14 billion. Noble Energy posted sales of $1.20 billion during the same quarter last year, which would indicate a positive year over year growth rate of 2.5%. The firm is expected to issue its next earnings results on Tuesday, February 19th.

On average, analysts expect that Noble Energy will report full year sales of $4.95 billion for the current fiscal year, with estimates ranging from $4.60 billion to $5.15 billion. For the next fiscal year, analysts expect that the business will report sales of $5.62 billion, with estimates ranging from $5.17 billion to $6.37 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Noble Energy.

Noble Energy (NYSE:NBL) last posted its earnings results on Thursday, November 1st. The oil and gas development company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.09. Noble Energy had a net margin of 25.09% and a return on equity of 4.82%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the business posted ($0.02) EPS. The business’s revenue was up 32.6% compared to the same quarter last year.

Several research firms have recently issued reports on NBL. Tudor Pickering upgraded shares of Noble Energy from a “hold” rating to a “buy” rating in a research note on Wednesday. Raymond James upgraded shares of Noble Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday. TD Securities reduced their target price on shares of Noble Energy from $42.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Stifel Nicolaus set a $46.00 target price on shares of Noble Energy and gave the stock a “buy” rating in a research note on Thursday, November 1st. Finally, Oppenheimer reiterated a “hold” rating on shares of Noble Energy in a research note on Thursday, November 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-one have given a buy rating to the company. Noble Energy currently has a consensus rating of “Buy” and an average price target of $41.96.

Shares of NYSE NBL traded down $0.38 during trading on Friday, hitting $26.52. The stock had a trading volume of 5,507,664 shares, compared to its average volume of 7,097,236. Noble Energy has a 12 month low of $23.83 and a 12 month high of $37.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $13.51 billion, a price-to-earnings ratio of 85.55, a PEG ratio of 2.78 and a beta of 1.08.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Investors of record on Monday, November 5th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Friday, November 2nd. Noble Energy’s dividend payout ratio (DPR) is currently 141.94%.

In related news, major shareholder Nbl Midstream, Llc sold 14,137,198 shares of the business’s stock in a transaction dated Wednesday, September 26th. The shares were sold at an average price of $17.75, for a total value of $250,935,264.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.96% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the stock. Whittier Trust Co. purchased a new stake in Noble Energy during the second quarter valued at about $163,000. Advisors Preferred LLC purchased a new stake in Noble Energy during the second quarter valued at about $126,000. Piedmont Investment Advisors LLC purchased a new stake in Noble Energy during the second quarter valued at about $200,000. Ingalls & Snyder LLC purchased a new stake in Noble Energy during the second quarter valued at about $202,000. Finally, Chicago Equity Partners LLC purchased a new stake in Noble Energy during the second quarter valued at about $204,000. 97.43% 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. 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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Earnings History and Estimates for Noble Energy (NYSE:NBL)

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