Zacks: Analysts Expect Noble Energy, Inc. (NBL) Will Post Earnings of $0.20 Per Share

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Brokerages expect that Noble Energy, Inc. (NYSE:NBL) will announce earnings per share (EPS) of $0.20 for the current quarter, according to Zacks. Ten analysts have made estimates for Noble Energy’s earnings, with estimates ranging from $0.06 to $0.45. Noble Energy reported earnings of ($0.02) per share in the same quarter last year, which indicates a positive year over year growth rate of 1,100%. The firm is scheduled to report its next quarterly earnings report before the market opens on Thursday, November 1st.

According to Zacks, analysts expect that Noble Energy will report full year earnings of $0.97 per share for the current year, with EPS estimates ranging from $0.63 to $1.41. For the next fiscal year, analysts expect that the company will post earnings of $1.43 per share, with EPS estimates ranging from $0.90 to $2.17. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Noble Energy.

Noble Energy (NYSE:NBL) last issued its earnings results on Friday, August 3rd. The oil and gas development company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.05). The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Noble Energy had a return on equity of 2.89% and a net margin of 19.01%. Noble Energy’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 earnings per share.

Several research analysts have recently issued reports on the company. Bank of America assumed coverage on Noble Energy in a research note on Tuesday, July 10th. They set a “buy” rating and a $59.00 price target for the company. Morgan Stanley assumed coverage on Noble Energy in a research note on Thursday, July 12th. They set an “equal weight” rating and a $39.00 price target for the company. Mitsubishi UFJ Financial Group lifted their price target on Noble Energy to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, July 19th. TD Securities assumed coverage on Noble Energy in a research note on Thursday, July 5th. They set a “buy” rating and a $45.00 price target for the company. Finally, Mizuho assumed coverage on Noble Energy in a research note on Monday, July 23rd. They set a “buy” rating and a $51.00 price target for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nineteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $41.88.

In other Noble Energy news, major shareholder Nbl Midstream, Llc sold 14,137,198 shares of Noble Energy 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.96% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Park National Corp OH purchased a new stake in shares of Noble Energy during the 2nd quarter worth about $2,455,000. James Investment Research Inc. purchased a new stake in shares of Noble Energy during the 2nd quarter worth about $2,101,000. CIBC World Markets Inc. grew its holdings in shares of Noble Energy by 50.0% during the 2nd quarter. CIBC World Markets Inc. now owns 19,206 shares of the oil and gas development company’s stock worth $678,000 after purchasing an additional 6,404 shares during the period. American Century Companies Inc. grew its holdings in shares of Noble Energy by 1.6% during the 2nd 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 purchasing an additional 119,166 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Noble Energy by 2.2% during the 2nd 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 purchasing an additional 93,686 shares during the period. Institutional investors own 97.68% of the company’s stock.

Shares of NYSE:NBL traded up $0.63 during midday trading on Monday, hitting $31.61. 4,937,948 shares of the stock were exchanged, compared to its average volume of 4,586,195. The company has a market capitalization of $15.07 billion, a PE ratio of 101.97, 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 twelve month low of $24.28 and a twelve month high of $37.76.

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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