Noble Energy Inc. Plans Quarterly Dividend of $0.10 (NBL)
Noble Energy Inc. (NYSE:NBL) declared a quarterly dividend on Tuesday, October 24th, RTT News reports. Investors of record on Monday, November 6th will be given a dividend of 0.10 per share by the oil and gas development company on Monday, November 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.47%.
Noble Energy has decreased its dividend payment by an average of 9.8% annually over the last three years. Noble Energy has a dividend payout ratio of -307.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Noble Energy to earn $0.10 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 400.0%.
Noble Energy (NYSE:NBL) opened at 27.30 on Tuesday. The firm’s market capitalization is $12.89 billion. The company has a 50 day moving average price of $27.06 and a 200-day moving average price of $28.48. Noble Energy has a 1-year low of $22.99 and a 1-year high of $42.03.
Noble Energy (NYSE:NBL) last posted its quarterly earnings data on Thursday, August 3rd. The oil and gas development company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.18. Noble Energy had a positive return on equity of 0.86% and a negative net margin of 46.63%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the company earned ($0.24) EPS. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, analysts forecast that Noble Energy will post ($0.14) EPS for the current fiscal year.
NBL has been the subject of a number of research analyst reports. Citigroup Inc. reduced their target price on Noble Energy from $45.00 to $38.00 and set a “buy” rating for the company in a report on Friday, July 21st. Scotiabank reissued a “hold” rating and issued a $38.00 target price on shares of Noble Energy in a report on Friday, June 30th. Cowen and Company set a $35.00 target price on Noble Energy and gave the stock a “buy” rating in a report on Tuesday, July 18th. Jefferies Group LLC reissued a “buy” rating and issued a $32.00 target price (down previously from $36.00) on shares of Noble Energy in a report on Tuesday, August 29th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $38.00 target price on shares of Noble Energy in a report on Thursday, July 20th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $40.76.
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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