Brokerages expect Noble Energy (NYSE:NBL) to announce earnings of $0.26 per share for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Noble Energy’s earnings. The lowest EPS estimate is $0.14 and the highest is $0.50. Noble Energy posted earnings per share of ($0.05) in the same quarter last year, which would indicate a positive year over year growth rate of 620%. The company is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, May 1st.
According to Zacks, analysts expect that Noble Energy will report full-year earnings of $0.94 per share for the current year, with EPS estimates ranging from $0.47 to $1.81. For the next fiscal year, analysts anticipate that the business will post earnings of $1.46 per share, with EPS estimates ranging from $0.72 to $2.39. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Noble Energy.
Noble Energy (NYSE:NBL) last announced its quarterly earnings data on Tuesday, February 20th. The oil and gas development company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.28. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.18 billion. Noble Energy had a negative net margin of 26.27% and a positive return on equity of 1.46%. Noble Energy’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the company posted $0.26 earnings per share.
A number of equities research analysts have weighed in on the stock. Royal Bank of Canada set a $37.00 price target on shares of Noble Energy and gave the stock a “buy” rating in a research note on Friday, February 23rd. Stifel Nicolaus set a $45.00 price target on shares of Noble Energy and gave the stock a “buy” rating in a research note on Wednesday, March 28th. BMO Capital Markets reiterated a “buy” rating and set a $38.00 price target on shares of Noble Energy in a research note on Tuesday, February 27th. Argus upgraded shares of Noble Energy from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Tuesday, March 13th. Finally, UBS assumed coverage on shares of Noble Energy in a research note on Wednesday, March 7th. They set a “buy” rating and a $40.00 price target on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Noble Energy presently has an average rating of “Buy” and a consensus target price of $40.71.
In other Noble Energy news, Director James E. Craddock sold 8,500 shares of Noble Energy stock in a transaction on Friday, March 9th. The stock was sold at an average price of $31.35, for a total transaction of $266,475.00. Following the completion of the transaction, the director now directly owns 93,413 shares of the company’s stock, valued at $2,928,497.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kenneth M. Fisher sold 7,621 shares of Noble Energy stock in a transaction on Monday, February 5th. The shares were sold at an average price of $28.80, for a total value of $219,484.80. Following the transaction, the chief financial officer now directly owns 197,144 shares of the company’s stock, valued at $5,677,747.20. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Sawyer & Company Inc bought a new position in shares of Noble Energy in the fourth quarter valued at about $169,000. Lourd Capital LLC bought a new position in shares of Noble Energy in the fourth quarter valued at about $203,000. Levin Capital Strategies L.P. bought a new position in shares of Noble Energy in the fourth quarter valued at about $219,000. FDx Advisors Inc. bought a new position in shares of Noble Energy in the fourth quarter valued at about $231,000. Finally, Assetmark Inc. raised its holdings in shares of Noble Energy by 355.5% in the fourth quarter. Assetmark Inc. now owns 8,558 shares of the oil and gas development company’s stock valued at $249,000 after buying an additional 6,679 shares during the last quarter. 95.64% of the stock is owned by institutional investors and hedge funds.
NBL traded down $1.07 during trading on Friday, reaching $29.26. 3,257,634 shares of the company’s stock were exchanged, compared to its average volume of 4,234,308. Noble Energy has a fifty-two week low of $22.99 and a fifty-two week high of $35.74. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 1.27. The company has a market capitalization of $14,401.54, a P/E ratio of 94.39 and a beta of 1.04.
Noble Energy declared that its Board of Directors has initiated a share buyback plan on Thursday, February 15th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the oil and gas development company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
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Noble Energy Company Profile
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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