Analysts Expect Noble Energy Inc. (NBL) Will Post Quarterly Sales of $1.12 Billion

Brokerages expect Noble Energy Inc. (NYSE:NBL) to announce sales of $1.12 billion for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Noble Energy’s earnings, with estimates ranging from $1.02 billion to $1.21 billion. Noble Energy posted sales of $1.01 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.9%. The business is expected to announce its next earnings results on Monday, February 12th.

On average, analysts expect that Noble Energy will report full year sales of $1.12 billion for the current fiscal year, with estimates ranging from $3.97 billion to $4.27 billion. For the next year, analysts forecast that the company will report sales of $4.60 billion per share, with estimates ranging from $3.56 billion to $5.12 billion. Zacks Investment Research’s sales averages 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 announced its earnings results on Monday, October 30th. The oil and gas development company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.11. Noble Energy had a negative net margin of 45.85% and a positive return on equity of 1.06%. The business had revenue of $960.00 million for the quarter, compared to the consensus estimate of $961.61 million. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis.

Several equities research analysts have recently weighed in on NBL shares. Jefferies Group reissued a “buy” rating and issued a $32.00 target price (down previously from $36.00) on shares of Noble Energy in a research note on Tuesday, August 29th. Stifel Nicolaus set a $39.00 price target on shares of Noble Energy and gave the stock a “buy” rating in a research note on Thursday, October 5th. Barclays raised their price target on shares of Noble Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 11th. BMO Capital Markets set a $33.00 price target on shares of Noble Energy and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Finally, Morgan Stanley raised their price target on shares of Noble Energy from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $40.60.

Shares of Noble Energy (NBL) opened at $26.84 on Tuesday. Noble Energy has a 12 month low of $22.99 and a 12 month high of $42.03. The firm has a market cap of $13,138.40, a price-to-earnings ratio of 112.50 and a beta of 1.16. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.75.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, November 6th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.49%. The ex-dividend date was Friday, November 3rd. Noble Energy’s payout ratio is -10.03%.

In other news, Director James E. Craddock sold 18,787 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $28.57, for a total value of $536,744.59. Following the sale, the director now directly owns 114,226 shares in the company, valued at approximately $3,263,436.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gary W. Willingham purchased 30,000 shares of the stock in a transaction dated Wednesday, November 29th. The stock was purchased at an average price of $26.00 per share, for a total transaction of $780,000.00. The disclosure for this purchase can be found here. 2.28% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in NBL. Ares Management LLC bought a new stake in shares of Noble Energy in the 2nd quarter valued at about $499,364,000. Capital World Investors boosted its stake in Noble Energy by 20.8% in the 2nd quarter. Capital World Investors now owns 55,184,801 shares of the oil and gas development company’s stock worth $1,561,730,000 after purchasing an additional 9,488,951 shares in the last quarter. Vanguard Group Inc. boosted its stake in Noble Energy by 29.8% in the 2nd quarter. Vanguard Group Inc. now owns 38,933,217 shares of the oil and gas development company’s stock worth $1,101,810,000 after purchasing an additional 8,933,476 shares in the last quarter. Carmignac Gestion boosted its stake in Noble Energy by 107.3% in the 2nd quarter. Carmignac Gestion now owns 11,753,883 shares of the oil and gas development company’s stock worth $332,635,000 after purchasing an additional 6,084,237 shares in the last quarter. Finally, Balyasny Asset Management LLC acquired a new stake in Noble Energy in the 2nd quarter worth approximately $75,546,000. Institutional investors and hedge funds own 94.32% of the company’s stock.

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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.

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

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