Brokerages expect that Noble Energy, Inc. (NYSE:NBL) will report sales of $1.16 billion for the current fiscal quarter, according to Zacks. Ten analysts have issued estimates for Noble Energy’s earnings, with the lowest sales estimate coming in at $1.09 billion and the highest estimate coming in at $1.24 billion. Noble Energy posted sales of $960.00 million during the same quarter last year, which would indicate a positive year over year growth rate of 20.8%. The company is expected to issue its next quarterly earnings results before the market opens on Thursday, November 1st.
On average, analysts expect that Noble Energy will report full-year sales of $4.87 billion for the current fiscal year, with estimates ranging from $4.62 billion to $5.01 billion. For the next year, analysts forecast that the firm will post sales of $5.44 billion, with estimates ranging from $4.99 billion to $5.95 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Noble Energy.
Noble Energy (NYSE:NBL) last released its earnings results on Friday, August 3rd. The oil and gas development company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.05). Noble Energy had a return on equity of 2.89% and a net margin of 19.01%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business posted $0.05 earnings per share. Noble Energy’s revenue was up 16.1% on a year-over-year basis.
NBL has been the topic of a number of recent research reports. Morgan Stanley reduced their price target on shares of Noble Energy from $39.00 to $36.00 and set a “hold” rating on the stock in a research report on Thursday, August 16th. KLR Group reaffirmed a “buy” rating and set a $61.00 price target on shares of Noble Energy in a research report on Monday, August 20th. TD Securities set a $43.00 price target on shares of Noble Energy and gave the company a “buy” rating in a research report on Sunday, August 5th. Citigroup reduced their price target on shares of Noble Energy from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Monday, August 13th. Finally, Barclays initiated coverage on shares of Noble Energy in a research report on Wednesday, August 29th. They set an “underweight” rating and a $33.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nineteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $41.88.
NBL stock traded up $0.29 during midday trading on Wednesday, reaching $31.90. 3,437,600 shares of the company’s stock traded hands, compared to its average volume of 4,580,437. The stock has a market cap of $15.07 billion, a price-to-earnings ratio of 102.90, a price-to-earnings-growth ratio of 3.14 and a beta of 0.96. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.58. Noble Energy has a fifty-two week low of $24.28 and a fifty-two week high of $37.76.
In other news, major shareholder Nbl Midstream, Llc sold 14,137,198 shares of the business’s stock in a transaction on Wednesday, September 26th. The shares were sold at an average price of $17.75, for a total transaction of $250,935,264.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.96% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Park National Corp OH acquired a new position in shares of Noble Energy during the second quarter worth $2,455,000. James Investment Research Inc. bought a new stake in shares of Noble Energy in the second quarter worth $2,101,000. American Century Companies Inc. increased its stake in shares of Noble Energy by 1.6% in the second quarter. American Century Companies Inc. now owns 7,460,070 shares of the oil and gas development company’s stock worth $263,191,000 after buying an additional 119,166 shares during the last quarter. CIBC World Markets Inc. increased its stake in shares of Noble Energy by 50.0% in the second quarter. CIBC World Markets Inc. now owns 19,206 shares of the oil and gas development company’s stock worth $678,000 after buying an additional 6,404 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Noble Energy by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 4,265,004 shares of the oil and gas development company’s stock worth $150,469,000 after buying an additional 93,686 shares during the last quarter. 97.68% of the stock is currently owned by institutional investors and hedge funds.
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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