Analysts expect that Noble Energy (NYSE:NBL) will report $0.21 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Ten analysts have made estimates for Noble Energy’s earnings, with the lowest EPS estimate coming in at $0.08 and the highest estimate coming in at $0.31. Noble Energy reported earnings of $0.05 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 320%. The firm is expected to announce its next quarterly earnings results on Thursday, August 2nd.
According to Zacks, analysts expect that Noble Energy will report full year earnings of $1.11 per share for the current fiscal year, with EPS estimates ranging from $0.81 to $1.46. For the next financial year, analysts forecast that the business will report earnings of $1.61 per share, with EPS estimates ranging from $0.90 to $2.63. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Noble Energy.
Noble Energy (NYSE:NBL) last announced its quarterly earnings data on Tuesday, May 1st. The oil and gas development company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.07. Noble Energy had a positive return on equity of 3.25% and a negative net margin of 13.32%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the firm earned ($0.05) earnings per share. The firm’s quarterly revenue was up 24.1% compared to the same quarter last year.
Several research analysts have weighed in on the company. Morgan Stanley lifted their target price on Noble Energy from $36.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Bank of America lifted their target price on Noble Energy from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, February 26th. KLR Group lifted their target price on Noble Energy from $9.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Wolfe Research lowered Noble Energy from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 30th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $40.00 target price on shares of Noble Energy in a report on Wednesday, April 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-two have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $41.09.
Shares of Noble Energy traded down $0.13, reaching $36.80, during trading on Tuesday, MarketBeat.com reports. 6,134,832 shares of the company were exchanged, compared to its average volume of 4,869,306. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.60. Noble Energy has a twelve month low of $22.99 and a twelve month high of $37.67. The stock has a market cap of $17.55 billion, a PE ratio of 118.71 and a beta of 1.02.
The company also recently declared a quarterly dividend, which was paid on Monday, May 21st. Stockholders of record on Monday, May 7th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.20%. This is a positive change from Noble Energy’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, May 4th. Noble Energy’s payout ratio is 141.94%.
Noble Energy announced that its Board of Directors has approved a share repurchase plan on Thursday, February 15th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the oil and gas development company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, VP J. Keith Elliott sold 6,000 shares of the business’s stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $33.27, for a total value of $199,620.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Andrea Lee Robison sold 8,760 shares of the business’s stock in a transaction dated Wednesday, May 9th. The shares were sold at an average price of $35.00, for a total value of $306,600.00. Following the completion of the sale, the vice president now owns 100,918 shares in the company, valued at $3,532,130. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,020 shares of company stock worth $1,096,815. Corporate insiders own 1.96% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Point72 Asia Hong Kong Ltd increased its position in shares of Noble Energy by 656.0% in the first quarter. Point72 Asia Hong Kong Ltd now owns 3,833 shares of the oil and gas development company’s stock valued at $116,000 after acquiring an additional 3,326 shares during the last quarter. Lourd Capital LLC acquired a new stake in shares of Noble Energy in the fourth quarter valued at about $203,000. First Republic Investment Management Inc. acquired a new stake in shares of Noble Energy in the first quarter valued at about $210,000. Levin Capital Strategies L.P. acquired a new stake in shares of Noble Energy in the fourth quarter valued at about $219,000. Finally, FDx Advisors Inc. acquired a new stake in shares of Noble Energy in the fourth quarter valued at about $231,000. Institutional investors own 99.01% of the company’s stock.
Noble Energy Company Profile
Noble Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids worldwide. It owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins. It principal projects are primarily located in the US unconventional basins and various global offshore conventional basins.
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