Brokerages Anticipate Noble Energy Inc. (NBL) Will Post Quarterly Sales of $956.79 Million
Wall Street analysts expect Noble Energy Inc. (NYSE:NBL) to post $956.79 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Noble Energy’s earnings. The highest sales estimate is $1.10 billion and the lowest is $882.70 million. Noble Energy reported sales of $910.00 million during the same quarter last year, which indicates a positive year over year growth rate of 5.1%. The company is scheduled to announce its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that Noble Energy will report full year sales of $956.79 million for the current financial year, with estimates ranging from $3.94 billion to $4.34 billion. For the next fiscal year, analysts forecast that the company will post sales of $4.69 billion per share, with estimates ranging from $4.37 billion to $5.21 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Noble Energy.
Noble Energy (NYSE:NBL) last posted its earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.18. Noble Energy had a positive return on equity of 0.86% and a negative net margin of 46.63%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the company earned ($0.24) earnings per share. Noble Energy’s revenue was up 25.0% on a year-over-year basis.
NBL has been the subject of a number of research reports. Citigroup Inc. downgraded shares of Noble Energy from a “buy” rating to a “neutral” rating in a research report on Friday, June 16th. Barclays PLC restated an “overweight” rating and set a $41.00 price objective (down from $46.00) on shares of Noble Energy in a research report on Saturday, April 22nd. Scotiabank restated a “hold” rating and set a $38.00 price objective on shares of Noble Energy in a research report on Friday, June 30th. BidaskClub downgraded Noble Energy from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Finally, Bank of America Corporation upgraded Noble Energy from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $53.00 to $49.00 in a research report on Thursday, May 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $41.48.
Noble Energy (NBL) opened at 24.65 on Friday. The firm has a 50-day moving average price of $27.74 and a 200-day moving average price of $32.28. Noble Energy has a 12-month low of $24.63 and a 12-month high of $42.03. The company’s market cap is $11.63 billion.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 7th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, August 3rd. This represents a $0.40 annualized dividend and a dividend yield of 1.62%. Noble Energy’s dividend payout ratio is presently -9.90%.
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Several hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp boosted its stake in shares of Noble Energy by 5.5% in the first quarter. Fifth Third Bancorp now owns 2,913 shares of the oil and gas development company’s stock valued at $100,000 after buying an additional 153 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of Noble Energy during the first quarter valued at about $132,000. Harbour Capital Advisors LLC bought a new stake in shares of Noble Energy during the first quarter valued at about $136,000. Global X Management Co. LLC boosted its stake in shares of Noble Energy by 30.1% in the first quarter. Global X Management Co. LLC now owns 5,702 shares of the oil and gas development company’s stock valued at $196,000 after buying an additional 1,319 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new stake in shares of Noble Energy during the first quarter valued at about $201,000. 96.94% of the stock is owned by institutional investors.
About Noble Energy
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.
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