Brokerages forecast that Noble Energy, Inc. (NYSE:NBL) will report earnings per share of $0.24 for the current fiscal quarter, Zacks reports. Ten analysts have provided estimates for Noble Energy’s earnings, with estimates ranging from $0.12 to $0.34. Noble Energy posted earnings of $0.05 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 380%. The business is scheduled to announce its next earnings results on Thursday, August 2nd.
On average, analysts expect that Noble Energy will report full year earnings of $1.17 per share for the current fiscal year, with EPS estimates ranging from $0.81 to $1.54. For the next fiscal year, analysts forecast that the business will post earnings of $1.78 per share, with EPS estimates ranging from $1.20 to $2.63. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Noble Energy.
Noble Energy (NYSE:NBL) last released its earnings results on Tuesday, May 1st. The oil and gas development company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.28 by $0.07. Noble Energy had a negative net margin of 13.32% and a positive return on equity of 3.25%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the business earned ($0.05) earnings per share. The business’s quarterly revenue was up 24.1% on a year-over-year basis.
Several analysts recently commented on NBL shares. KLR Group increased their target price on shares of Noble Energy from $9.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Deutsche Bank set a $40.00 price target on shares of Noble Energy and gave the company a “buy” rating in a research report on Wednesday, February 21st. Royal Bank of Canada set a $39.00 price target on shares of Noble Energy and gave the company a “buy” rating in a research report on Friday, April 13th. BMO Capital Markets restated a “buy” rating and issued a $40.00 price target on shares of Noble Energy in a research report on Wednesday, April 11th. Finally, Stifel Nicolaus set a $45.00 price target on shares of Noble Energy and gave the company a “buy” rating in a research report on Wednesday, March 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the company. Noble Energy currently has an average rating of “Buy” and a consensus target price of $40.30.
In other Noble Energy news, VP Andrea Lee Robison sold 8,760 shares of the stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $37.00, for a total value of $324,120.00. Following the completion of the sale, the vice president now owns 100,918 shares in the company, valued at approximately $3,733,966. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP J. Keith Elliott sold 6,000 shares of the stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $33.27, for a total transaction of $199,620.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,520 shares of company stock valued at $830,340. Insiders own 1.96% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Hong Kong Ltd lifted its position in Noble Energy by 656.0% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 3,833 shares of the oil and gas development company’s stock worth $116,000 after buying an additional 3,326 shares in the last quarter. First Republic Investment Management Inc. acquired a new position in shares of Noble Energy during the 1st quarter worth $210,000. Levin Capital Strategies L.P. acquired a new position in shares of Noble Energy during the 4th quarter worth $219,000. FDx Advisors Inc. acquired a new position in shares of Noble Energy during the 4th quarter worth $231,000. Finally, Assetmark Inc. increased its stake in shares of Noble Energy by 355.5% during the 4th quarter. Assetmark Inc. now owns 8,558 shares of the oil and gas development company’s stock worth $249,000 after purchasing an additional 6,679 shares during the last quarter. Institutional investors own 98.58% of the company’s stock.
NBL stock traded up $0.05 on Friday, hitting $34.57. 5,607,700 shares of the company’s stock traded hands, compared to its average volume of 4,776,619. Noble Energy has a 1-year low of $22.99 and a 1-year high of $37.67. The firm has a market cap of $16.63 billion, a PE ratio of 111.52, a P/E/G ratio of 3.02 and a beta of 1.04. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.17 and a quick ratio of 1.17.
Noble Energy announced that its board has initiated a share repurchase program on Thursday, February 15th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the oil and gas development company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Monday, May 21st. Shareholders of record on Monday, May 7th were given a $0.11 dividend. This is an increase from Noble Energy’s previous quarterly dividend of $0.10. The ex-dividend date was Friday, May 4th. This represents a $0.44 dividend on an annualized basis and a yield of 1.27%. Noble Energy’s dividend payout ratio is presently 141.94%.
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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