Wall Street analysts forecast that Noble Energy, Inc. (NYSE:NBL) will post sales of $1.23 billion for the current fiscal quarter, according to Zacks. Ten analysts have issued estimates for Noble Energy’s earnings. The highest sales estimate is $1.36 billion and the lowest is $1.14 billion. Noble Energy posted sales of $1.20 billion in the same quarter last year, which suggests a positive year over year growth rate of 2.5%. The company is scheduled to issue its next quarterly earnings results on Tuesday, February 19th.
On average, analysts expect that Noble Energy will report full-year sales of $4.95 billion for the current year, with estimates ranging from $4.60 billion to $5.15 billion. For the next year, analysts expect that the company will post sales of $5.62 billion, with estimates ranging from $5.17 billion to $6.37 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Noble Energy.
Noble Energy (NYSE:NBL) last released its quarterly earnings results on Thursday, November 1st. The oil and gas development company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.09. Noble Energy had a return on equity of 4.82% and a net margin of 25.09%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. The company’s revenue was up 32.6% compared to the same quarter last year.
Several research analysts recently commented on the company. Mitsubishi UFJ Financial Group boosted their price target on Noble Energy to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, July 19th. Mizuho assumed coverage on Noble Energy in a research note on Monday, July 23rd. They issued a “buy” rating and a $51.00 price target on the stock. TD Securities set a $43.00 price target on Noble Energy and gave the stock a “buy” rating in a research note on Sunday, August 5th. Stifel Nicolaus set a $40.00 price target on Noble Energy and gave the stock a “buy” rating in a research note on Friday, August 3rd. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $44.00 price target on shares of Noble Energy in a research note on Friday, August 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Noble Energy currently has an average rating of “Buy” and an average price target of $41.96.
Shares of NYSE:NBL traded down $0.38 during trading on Friday, hitting $26.52. The company’s stock had a trading volume of 5,507,664 shares, compared to its average volume of 7,097,236. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 0.81. Noble Energy has a fifty-two week low of $23.83 and a fifty-two week high of $37.76. The stock has a market cap of $13.51 billion, a price-to-earnings ratio of 85.55, a price-to-earnings-growth ratio of 2.78 and a beta of 1.08.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Investors of record on Monday, November 5th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.66%. The ex-dividend date is Friday, November 2nd. Noble Energy’s dividend payout ratio is currently 141.94%.
In related news, major shareholder Nbl Midstream, Llc sold 14,137,198 shares of the business’s stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of $17.75, for a total value of $250,935,264.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.96% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale grew its holdings in shares of Noble Energy by 12.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 374,659 shares of the oil and gas development company’s stock valued at $11,256,000 after purchasing an additional 40,282 shares during the last quarter. Ontario Teachers Pension Plan Board grew its holdings in shares of Noble Energy by 11.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,485,077 shares of the oil and gas development company’s stock valued at $77,510,000 after purchasing an additional 250,000 shares during the last quarter. CIBC World Markets Inc. grew its holdings in shares of Noble Energy by 31.5% during the third quarter. CIBC World Markets Inc. now owns 25,260 shares of the oil and gas development company’s stock valued at $788,000 after purchasing an additional 6,054 shares during the last quarter. FMR LLC grew its holdings in shares of Noble Energy by 121.2% during the third quarter. FMR LLC now owns 15,861,163 shares of the oil and gas development company’s stock valued at $494,709,000 after purchasing an additional 8,690,774 shares during the last quarter. Finally, American International Group Inc. grew its holdings in shares of Noble Energy by 5.5% during the third quarter. American International Group Inc. now owns 205,945 shares of the oil and gas development company’s stock valued at $6,423,000 after purchasing an additional 10,730 shares during the last quarter. 97.43% of the stock is owned by institutional investors.
About Noble Energy
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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