-$0.12 Earnings Per Share Expected for Noble Energy Inc. (NBL) This Quarter
Analysts expect Noble Energy Inc. (NYSE:NBL) to report ($0.12) earnings per share for the current quarter, Zacks reports. Six analysts have provided estimates for Noble Energy’s earnings, with the highest EPS estimate coming in at $0.00 and the lowest estimate coming in at ($0.18). Noble Energy reported earnings per share of ($0.07) in the same quarter last year, which suggests a negative year over year growth rate of 71.4%. The business is scheduled to issue its next quarterly earnings report on Tuesday, November 7th.
On average, analysts expect that Noble Energy will report full year earnings of ($0.19) per share for the current financial year, with EPS estimates ranging from ($0.42) to $0.10. For the next financial year, analysts forecast that the company will report earnings of ($0.02) per share, with EPS estimates ranging from ($0.77) to $0.80. Zacks’ EPS calculations are an average based on a survey of research firms that follow Noble Energy.
Noble Energy (NYSE:NBL) last announced its earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.18. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Noble Energy had a positive return on equity of 0.86% and a negative net margin of 46.63%. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same period last year, the firm posted ($0.24) earnings per share.
NBL has been the topic of several recent research reports. BidaskClub upgraded Noble Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Cowen and Company set a $35.00 price target on Noble Energy and gave the company a “buy” rating in a research report on Tuesday, July 18th. Scotiabank set a $38.00 price target on Noble Energy and gave the company a “hold” rating in a research report on Thursday, August 3rd. Seaport Global Securities upgraded Noble Energy from a “sell” rating to a “neutral” rating and boosted their price target for the company from $23.00 to $26.00 in a research report on Friday, August 11th. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $47.00 price target on shares of Noble Energy in a research report on Monday, May 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $41.11.
Noble Energy (NYSE NBL) opened at 23.58 on Wednesday. The stock’s market capitalization is $11.13 billion. Noble Energy has a 12 month low of $23.00 and a 12 month high of $42.03. The firm has a 50-day moving average price of $26.53 and a 200 day moving average price of $31.13.
The company also recently declared a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Monday, August 7th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Thursday, August 3rd. Noble Energy’s dividend payout ratio (DPR) is -9.90%.
Large investors have recently bought and sold shares of the stock. Fifth Third Bancorp raised its stake in Noble Energy by 5.5% in the first quarter. Fifth Third Bancorp now owns 2,913 shares of the oil and gas development company’s stock worth $100,000 after buying an additional 153 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in Noble Energy during the second quarter worth about $106,000. Private Advisor Group LLC bought a new stake in Noble Energy during the first quarter worth about $132,000. Harbour Capital Advisors LLC bought a new stake in Noble Energy during the first quarter worth about $136,000. Finally, Global X Management Co. LLC raised its stake in Noble Energy by 30.1% in the first quarter. Global X Management Co. LLC now owns 5,702 shares of the oil and gas development company’s stock worth $196,000 after buying an additional 1,319 shares during the last quarter. 91.83% of the stock is currently owned by hedge funds and other institutional investors.
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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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