Noble Energy Inc. (NYSE:NBL) Expected to Post Earnings of -$0.11 Per Share
Brokerages forecast that Noble Energy Inc. (NYSE:NBL) will report ($0.11) earnings per share for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Noble Energy’s earnings, with estimates ranging from ($0.16) to ($0.03). Noble Energy posted earnings per share of ($0.24) in the same quarter last year, which would suggest a positive year over year growth rate of 54.2%. The business is expected to report its next earnings report before the market opens on Thursday, August 3rd.
According to Zacks, analysts expect that Noble Energy will report full-year earnings of ($0.19) per share for the current year, with EPS estimates ranging from ($0.45) to $0.07. For the next year, analysts expect that the company will report earnings of $0.17 per share, with EPS estimates ranging from ($0.31) to $0.84. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Noble Energy.
Noble Energy (NYSE:NBL) last released its quarterly earnings data on Monday, May 1st. The oil and gas development company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.09. Noble Energy had a negative net margin of 17.75% and a negative return on equity of 0.44%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $974.54 million. During the same quarter in the previous year, the business earned ($0.53) EPS. Noble Energy’s quarterly revenue was up 43.1% compared to the same quarter last year.
A number of analysts have commented on the stock. Seaport Global Securities cut shares of Noble Energy from a “neutral” rating to a “sell” rating and cut their price target for the company from $36.00 to $23.00 in a research note on Wednesday, June 21st. Royal Bank Of Canada restated a “buy” rating and set a $38.00 target price on shares of Noble Energy in a research note on Thursday. Jefferies Group LLC set a $40.00 target price on shares of Noble Energy and gave the stock a “buy” rating in a research note on Wednesday, May 17th. Evercore ISI restated an “outperform” rating and set a $40.00 target price on shares of Noble Energy in a research note on Tuesday, May 2nd. Finally, BidaskClub cut shares of Noble Energy from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $42.11.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC raised its stake in shares of Noble Energy by 19.0% in the first quarter. CWM LLC now owns 67,372 shares of the oil and gas development company’s stock worth $2,314,000 after buying an additional 10,779 shares during the last quarter. National Pension Service raised its position in shares of Noble Energy by 4.9% in the first quarter. National Pension Service now owns 386,980 shares of the oil and gas development company’s stock valued at $13,277,000 after buying an additional 18,032 shares in the last quarter. Gulf International Bank UK Ltd raised its position in shares of Noble Energy by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 133,522 shares of the oil and gas development company’s stock valued at $4,585,000 after buying an additional 1,840 shares in the last quarter. Trust Co. of Oklahoma raised its position in shares of Noble Energy by 4.9% in the first quarter. Trust Co. of Oklahoma now owns 37,568 shares of the oil and gas development company’s stock valued at $1,290,000 after buying an additional 1,767 shares in the last quarter. Finally, Creative Planning raised its position in shares of Noble Energy by 284.9% in the first quarter. Creative Planning now owns 27,130 shares of the oil and gas development company’s stock valued at $932,000 after buying an additional 20,081 shares in the last quarter. Institutional investors and hedge funds own 96.89% of the company’s stock.
Noble Energy (NBL) traded down 0.70% on Monday, reaching $28.18. 2,278,626 shares of the company’s stock were exchanged. Noble Energy has a 12 month low of $26.56 and a 12 month high of $42.03. The firm’s 50-day moving average is $28.53 and its 200-day moving average is $33.51. The firm’s market cap is $12.15 billion.
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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