Noble Energy, Inc. (NBL) Expected to Post Earnings of $0.25 Per Share

Wall Street brokerages expect Noble Energy, Inc. (NYSE:NBL) to report $0.25 earnings per share for the current quarter, Zacks reports. Eight analysts have made estimates for Noble Energy’s earnings, with the highest EPS estimate coming in at $0.50 and the lowest estimate coming in at $0.14. Noble Energy posted earnings of ($0.05) per share in the same quarter last year, which suggests a positive year over year growth rate of 600%. The business is scheduled to issue its next earnings results on Monday, May 7th.

On average, analysts expect that Noble Energy will report full year earnings of $0.92 per share for the current year, with EPS estimates ranging from $0.47 to $1.81. For the next financial year, analysts forecast that the business will post earnings of $1.38 per share, with EPS estimates ranging from $0.72 to $2.39. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Noble Energy.

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Noble Energy (NYSE:NBL) last announced its quarterly earnings results on Tuesday, February 20th. The oil and gas development company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.28. Noble Energy had a positive return on equity of 1.46% and a negative net margin of 26.27%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the company earned $0.26 earnings per share. The firm’s revenue was up 18.9% on a year-over-year basis.

NBL has been the subject of a number of research reports. Stifel Nicolaus set a $41.00 price target on Noble Energy and gave the company a “buy” rating in a research note on Tuesday, November 28th. Jefferies Group reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Noble Energy in a research note on Friday, February 23rd. Royal Bank of Canada set a $36.00 price objective on Noble Energy and gave the company a “buy” rating in a research note on Wednesday, December 20th. KLR Group raised their price objective on Noble Energy from $9.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, Bank of America raised their price objective on Noble Energy from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twenty-one have issued a buy rating to the company. Noble Energy presently has an average rating of “Buy” and a consensus target price of $40.48.

Shares of NBL stock traded up $0.47 during trading on Thursday, reaching $29.25. The company had a trading volume of 4,270,412 shares, compared to its average volume of 5,593,911. Noble Energy has a 52 week low of $22.99 and a 52 week high of $35.74. The company has a market capitalization of $14,470.44, a price-to-earnings ratio of -12.04 and a beta of 1.10. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.27.

Noble Energy announced that its Board of Directors has initiated a share buyback program on Thursday, February 15th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the oil and gas development company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Monday, February 12th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Friday, February 9th. Noble Energy’s dividend payout ratio is currently -16.74%.

In related news, Director James E. Craddock sold 8,500 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $31.35, for a total transaction of $266,475.00. Following the completion of the sale, the director now directly owns 93,413 shares of the company’s stock, valued at approximately $2,928,497.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kenneth M. Fisher sold 7,621 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $28.80, for a total value of $219,484.80. Following the sale, the chief financial officer now directly owns 197,144 shares of the company’s stock, valued at $5,677,747.20. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Massey Quick Simon & CO. LLC bought a new stake in shares of Noble Energy during the 3rd quarter worth approximately $155,000. Sawyer & Company Inc purchased a new position in Noble Energy during the 4th quarter worth $169,000. Lourd Capital LLC purchased a new position in Noble Energy during the 4th quarter worth $203,000. Levin Capital Strategies L.P. purchased a new position in Noble Energy during the 4th quarter worth $219,000. Finally, FDx Advisors Inc. purchased a new position in Noble Energy during the 4th quarter worth $231,000. 95.64% of the stock is owned by hedge funds and other institutional investors.

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About Noble Energy

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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Earnings History and Estimates for Noble Energy (NYSE:NBL)

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