$920.21 Million in Sales Expected for Noble Energy Inc. (NBL) This Quarter
Analysts expect Noble Energy Inc. (NYSE:NBL) to report sales of $920.21 million for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Noble Energy’s earnings. The highest sales estimate is $982.23 million and the lowest is $844.77 million. Noble Energy posted sales of $910.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 1.1%. The business is expected to issue its next quarterly earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Noble Energy will report full-year sales of $920.21 million for the current fiscal year, with estimates ranging from $3.89 billion to $4.25 billion. For the next year, analysts anticipate that the firm will post sales of $4.65 billion per share, with estimates ranging from $4.30 billion to $5.21 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Noble Energy.
Noble Energy (NYSE:NBL) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas development company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.18. Noble Energy had a negative net margin of 46.63% and a positive return on equity of 0.86%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the firm posted ($0.24) earnings per share. Noble Energy’s quarterly revenue was up 25.0% on a year-over-year basis.
NBL has been the topic of several recent research reports. Stifel Nicolaus reissued a “buy” rating and set a $43.00 price target on shares of Noble Energy in a research report on Friday, May 26th. Piper Jaffray Companies reissued a “buy” rating and set a $47.00 price target on shares of Noble Energy in a research report on Tuesday, May 23rd. Cowen and Company set a $45.00 price target on Noble Energy and gave the stock a “buy” rating in a research report on Tuesday, May 23rd. Bank of America Corporation initiated coverage on Noble Energy in a research report on Tuesday, May 23rd. They set a “buy” rating and a $49.00 price target on the stock. Finally, Tudor Pickering raised Noble Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $41.36.
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A number of institutional investors and hedge funds have recently modified their holdings of the stock. Capital World Investors grew its stake in Noble Energy by 20.8% during the 2nd quarter. Capital World Investors now owns 55,184,801 shares of the oil and gas development company’s stock worth $1,561,730,000 after buying an additional 9,488,951 shares during the last quarter. Vanguard Group Inc. grew its stake in Noble Energy by 29.8% during the 2nd quarter. Vanguard Group Inc. now owns 38,933,217 shares of the oil and gas development company’s stock worth $1,101,810,000 after buying an additional 8,933,476 shares during the last quarter. BlackRock Inc. grew its stake in Noble Energy by 7.4% during the 2nd quarter. BlackRock Inc. now owns 32,231,480 shares of the oil and gas development company’s stock worth $912,152,000 after buying an additional 2,211,439 shares during the last quarter. State Street Corp grew its stake in Noble Energy by 5.7% during the 2nd quarter. State Street Corp now owns 27,225,558 shares of the oil and gas development company’s stock worth $770,487,000 after buying an additional 1,471,064 shares during the last quarter. Finally, Ares Management LLC bought a new position in Noble Energy during the 2nd quarter worth $499,364,000. Hedge funds and other institutional investors own 91.68% of the company’s stock.
Shares of Noble Energy (NYSE NBL) opened at 26.09 on Tuesday. The company has a 50 day moving average of $24.94 and a 200-day moving average of $29.66. Noble Energy has a one year low of $22.99 and a one year high of $42.03. The stock’s market cap is $12.31 billion.
The company also recently declared a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Monday, August 7th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Thursday, August 3rd. Noble Energy’s dividend payout ratio is currently -9.90%.
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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