Noble Energy Inc. (NBL) Expected to Post Quarterly Sales of $919.72 Million
Equities analysts expect that Noble Energy Inc. (NYSE:NBL) will post sales of $919.72 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Noble Energy’s earnings. The lowest sales estimate is $844.77 million and the highest is $982.23 million. Noble Energy reported sales of $910.00 million in the same quarter last year, which indicates a positive year-over-year growth rate of 1.1%. The business is scheduled to issue its next earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that Noble Energy will report full year sales of $919.72 million for the current financial year, with estimates ranging from $3.89 billion to $4.25 billion. For the next financial year, analysts anticipate that the business will post sales of $4.66 billion per share, with estimates ranging from $4.37 billion to $5.21 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Noble Energy.
Noble Energy (NYSE:NBL) last issued its quarterly earnings data on Thursday, August 3rd. The oil and gas development company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.18. Noble Energy had a negative net margin of 46.63% and a positive return on equity of 0.86%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the firm earned ($0.24) EPS. The company’s quarterly revenue was up 25.0% compared to the same quarter last year.
Several equities analysts have commented on the stock. Citigroup Inc. dropped their price target on shares of Noble Energy from $45.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Scotiabank reiterated a “hold” rating and issued a $38.00 price target on shares of Noble Energy in a research note on Friday, June 30th. BidaskClub lowered shares of Noble Energy from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Cowen and Company set a $35.00 price target on shares of Noble Energy and gave the company a “buy” rating in a research note on Tuesday, July 18th. Finally, Bank of America Corporation upgraded shares of Noble Energy from a “neutral” rating to a “buy” rating and dropped their price target for the company from $53.00 to $49.00 in a research note on Thursday, May 11th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Noble Energy presently has a consensus rating of “Buy” and a consensus target price of $41.11.
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A number of large investors have recently added to or reduced their stakes in NBL. Fifth Third Bancorp increased its position in 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 during the period. Tower Research Capital LLC TRC purchased a new position in Noble Energy during the second quarter valued at about $106,000. Private Advisor Group LLC purchased a new position in Noble Energy during the first quarter valued at about $132,000. Harbour Capital Advisors LLC purchased a new position in Noble Energy during the first quarter valued at about $136,000. Finally, Global X Management Co. LLC increased its position in 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 during the period. 91.83% of the stock is owned by institutional investors.
Noble Energy (NBL) opened at 23.77 on Friday. Noble Energy has a 12 month low of $23.01 and a 12 month high of $42.03. The stock has a 50 day moving average of $26.09 and a 200-day moving average of $30.70. The stock’s market cap is $11.22 billion.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Monday, August 7th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Thursday, August 3rd. Noble Energy’s dividend payout ratio (DPR) is currently -9.90%.
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.
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