Analysts expect Noble Energy, Inc. (NYSE:NBL) to post earnings of $0.23 per share for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Noble Energy’s earnings. The highest EPS estimate is $0.44 and the lowest is $0.12. Noble Energy posted earnings of $0.32 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 28.1%. The firm is expected to announce its next quarterly earnings report on Tuesday, February 19th.
On average, analysts expect that Noble Energy will report full-year earnings of $0.95 per share for the current financial year, with EPS estimates ranging from $0.66 to $1.16. For the next fiscal year, analysts forecast that the business will post earnings of $1.61 per share, with EPS estimates ranging from $1.09 to $2.29. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Noble Energy.
Noble Energy (NYSE:NBL) last announced its quarterly earnings results on Thursday, November 1st. The oil and gas development company reported $0.27 earnings per share for the quarter, topping the 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 analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the company earned ($0.02) EPS. The company’s revenue was up 32.6% compared to the same quarter last year.
Several equities research analysts have recently weighed in on the stock. Oppenheimer reaffirmed a “hold” rating on shares of Noble Energy in a research report on Thursday, November 1st. TD Securities lowered their price target on shares of Noble Energy from $42.00 to $39.00 and set a “buy” rating for the company in a research report on Friday. Mizuho cut shares of Noble Energy from a “buy” rating to a “neutral” rating and set a $40.00 price target for the company. in a research report on Monday, August 6th. Stifel Nicolaus set a $46.00 price target on shares of Noble Energy and gave the stock a “buy” rating in a research report on Thursday, November 1st. Finally, Mitsubishi UFJ Financial Group upped their price target on shares of Noble Energy to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, July 19th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $41.96.
In other Noble Energy news, major shareholder Nbl Midstream, Llc sold 14,137,198 shares of the company’s stock in a transaction that occurred on Wednesday, September 26th. The shares were sold at an average price of $17.75, for a total transaction of $250,935,264.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.96% of the company’s stock.
A number of institutional investors have recently modified their holdings of NBL. Boston Partners acquired a new position in Noble Energy during the 2nd quarter valued at approximately $102,102,000. FMR LLC increased its stake in Noble Energy by 56.8% during the 2nd quarter. FMR LLC now owns 7,170,389 shares of the oil and gas development company’s stock valued at $252,972,000 after purchasing an additional 2,597,747 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in Noble Energy by 12.1% during the 2nd quarter. Artisan Partners Limited Partnership now owns 17,770,684 shares of the oil and gas development company’s stock valued at $626,950,000 after purchasing an additional 1,916,041 shares in the last quarter. King Luther Capital Management Corp increased its stake in Noble Energy by 888.7% during the 2nd quarter. King Luther Capital Management Corp now owns 1,808,942 shares of the oil and gas development company’s stock valued at $63,819,000 after purchasing an additional 1,625,983 shares in the last quarter. Finally, BlueMountain Capital Management LLC acquired a new position in Noble Energy during the 2nd quarter valued at approximately $53,200,000. Institutional investors and hedge funds own 97.43% of the company’s stock.
Shares of NBL traded up $0.11 during mid-day trading on Thursday, hitting $27.04. The company’s stock had a trading volume of 686,509 shares, compared to its average volume of 6,132,405. Noble Energy has a 52-week low of $23.83 and a 52-week high of $37.76. The stock has a market capitalization of $12.73 billion, a PE ratio of 87.23, a PEG ratio of 2.76 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Monday, November 5th will be paid a dividend of $0.11 per share. The ex-dividend date is Friday, November 2nd. This represents a $0.44 dividend on an annualized basis and a yield of 1.63%. Noble Energy’s payout ratio is 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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