Noble Energy Inc. (NYSE:NBL) Announces Quarterly Dividend of $0.10
Noble Energy Inc. (NYSE:NBL) declared a quarterly dividend on Tuesday, July 25th, RTT News reports. Stockholders of record on Monday, August 7th will be paid a dividend of 0.10 per share by the oil and gas development company on Monday, August 21st. This represents a $0.40 annualized dividend and a dividend yield of 1.42%.
Noble Energy has decreased its dividend payment by an average of 9.8% per year over the last three years. Noble Energy has a dividend payout ratio of -210.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Noble Energy to earn $0.17 per share next year, which means the company may not be able to cover its $0.40 annual dividend with an expected future payout ratio of 235.3%.
Shares of Noble Energy (NYSE NBL) traded up 3.23% during trading on Tuesday, hitting $29.09. 310,090 shares of the stock traded hands. The stock has a 50 day moving average price of $28.51 and a 200-day moving average price of $33.32. Noble Energy has a 1-year low of $26.56 and a 1-year high of $42.03. The stock’s market cap is $12.54 billion.
Noble Energy (NYSE:NBL) last released its quarterly earnings results on Monday, May 1st. The oil and gas development company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.09. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $974.54 million. Noble Energy had a negative return on equity of 0.44% and a negative net margin of 17.75%. The firm’s revenue for the quarter was up 43.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.53) EPS. Equities analysts forecast that Noble Energy will post ($0.20) EPS for the current year.
Several equities analysts have weighed in on NBL shares. Bank of America Corporation upgraded Noble Energy from a “neutral” rating to a “buy” rating and cut their price target for the company from $53.00 to $49.00 in a report on Thursday, May 11th. Jefferies Group LLC set a $40.00 price target on Noble Energy and gave the company a “buy” rating in a report on Wednesday, May 17th. Credit Suisse Group restated a “buy” rating and set a $44.00 price target on shares of Noble Energy in a report on Thursday, April 27th. Royal Bank Of Canada restated a “buy” rating and set a $48.00 price target on shares of Noble Energy in a report on Tuesday, April 25th. Finally, Stifel Nicolaus restated a “buy” rating and set a $44.00 price target (up previously from $43.00) on shares of Noble Energy in a report on Friday, May 19th. Three 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 given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $42.11.
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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