Noble Energy Inc. (NBL) To Go Ex-Dividend on November 3rd

Noble Energy Inc. (NYSE:NBL) announced a quarterly dividend on Tuesday, October 24th, RTT News reports. Investors of record on Monday, November 6th will be given a dividend of 0.10 per share by the oil and gas development company on Monday, November 20th. This represents a $0.40 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, November 3rd.

Noble Energy has decreased its dividend payment by an average of 9.8% per year over the last three years. Noble Energy has a payout ratio of -285.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Noble Energy to earn $0.02 per share next year, which means the company may not be able to cover its $0.40 annual dividend with an expected future payout ratio of 2,000.0%.

Noble Energy (NYSE:NBL) last posted its quarterly earnings results on Monday, October 30th. The oil and gas development company reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.11. Noble Energy had a positive return on equity of 1.06% and a negative net margin of 45.85%. The firm had revenue of $960.00 million during the quarter, compared to analysts’ expectations of $961.61 million. During the same quarter in the previous year, the business earned ($0.07) earnings per share. The company’s revenue was up 5.5% on a year-over-year basis.

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NBL has been the subject of several recent analyst reports. Royal Bank Of Canada restated a “buy” rating and issued a $38.00 price target on shares of Noble Energy in a research note on Thursday, July 20th. Scotiabank set a $38.00 price target on Noble Energy and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Citigroup Inc. decreased their price target on Noble Energy from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Cowen and Company set a $35.00 price target on Noble Energy and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Finally, BMO Capital Markets set a $37.00 price target on Noble Energy and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $40.76.

Noble Energy Company Profile

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.

Dividend History for Noble Energy (NYSE:NBL)

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