Wall Street analysts expect that Noble Energy Inc. (NYSE:NBL) will announce $1.06 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Noble Energy’s earnings, with estimates ranging from $1.01 billion to $1.10 billion. Noble Energy posted sales of $847.00 million during the same quarter last year, which suggests a positive year-over-year growth rate of 25.1%. The firm is expected to report its next quarterly earnings results before the market opens on Thursday, August 3rd.

According to Zacks, analysts expect that Noble Energy will report full year sales of $1.06 billion for the current fiscal year, with estimates ranging from $3.94 billion to $4.43 billion. For the next fiscal year, analysts expect that the business will report sales of $4.82 billion per share, with estimates ranging from $4.35 billion to $5.36 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Noble Energy.

Noble Energy (NYSE:NBL) last announced 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 Thomson Reuters’ 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 net margin of 17.75% and a negative return on equity of 0.44%. The firm’s revenue for the quarter was up 43.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.53) EPS.

NBL has been the topic of a number of research analyst reports. Seaport Global Securities cut shares of Noble Energy from a “neutral” rating to a “sell” rating and cut their price target for the stock from $36.00 to $23.00 in a report on Wednesday, June 21st. Royal Bank Of Canada restated a “buy” rating and issued a $38.00 price target on shares of Noble Energy in a report on Thursday, July 20th. Jefferies Group LLC set a $40.00 price target on shares of Noble Energy and gave the stock a “buy” rating in a report on Wednesday, May 17th. Evercore ISI restated an “outperform” rating and issued a $40.00 price target on shares of Noble Energy in a report on Tuesday, May 2nd. Finally, BidaskClub cut shares of Noble Energy from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $42.11.

Noble Energy (NYSE:NBL) traded up 0.10% during midday trading on Wednesday, hitting $29.05. 98,273 shares of the stock traded hands. The firm’s 50-day moving average is $28.51 and its 200-day moving average is $33.32. Noble Energy has a 52-week low of $26.56 and a 52-week high of $42.03. The company’s market cap is $12.52 billion.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 7th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.40 annualized dividend and a dividend yield of 1.38%. Noble Energy’s dividend payout ratio (DPR) is currently -25.48%.

Institutional investors have recently bought and sold shares of the stock. Sumitomo Mitsui Asset Management Company LTD increased its position in Noble Energy by 2.4% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 37,333 shares of the oil and gas development company’s stock valued at $1,056,000 after buying an additional 886 shares during the period. Shell Asset Management Co. increased its position in Noble Energy by 4.4% in the second quarter. Shell Asset Management Co. now owns 108,468 shares of the oil and gas development company’s stock valued at $3,070,000 after buying an additional 4,528 shares during the period. Hartford Investment Management Co. increased its position in Noble Energy by 0.3% in the second quarter. Hartford Investment Management Co. now owns 98,830 shares of the oil and gas development company’s stock valued at $2,797,000 after buying an additional 339 shares during the period. First Midwest Bank Trust Division increased its position in Noble Energy by 51.4% in the second quarter. First Midwest Bank Trust Division now owns 23,712 shares of the oil and gas development company’s stock valued at $671,000 after buying an additional 8,053 shares during the period. Finally, Quantitative Systematic Strategies LLC bought a new position in Noble Energy during the second quarter valued at about $1,926,000. Hedge funds and other institutional investors own 96.89% of the company’s stock.

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Noble Energy Company Profile

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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Earnings History and Estimates for Noble Energy (NYSE:NBL)

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