Noble Energy (NBL) Announces Quarterly Earnings Results

Noble Energy (NYSE:NBL) announced its quarterly earnings results on Friday. The oil and gas development company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.05), Bloomberg Earnings reports. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Noble Energy had a positive return on equity of 3.25% and a negative net margin of 13.32%. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 EPS.

Noble Energy opened at $32.89 on Friday, Marketbeat Ratings reports. Noble Energy has a twelve month low of $22.99 and a twelve month high of $37.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market capitalization of $17.36 billion, a PE ratio of 51.19, a price-to-earnings-growth ratio of 3.00 and a beta of 1.07.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 20th. Stockholders of record on Monday, August 6th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Friday, August 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.34%. Noble Energy’s dividend payout ratio (DPR) is presently 141.94%.

Several analysts have commented on NBL shares. Johnson Rice upgraded shares of Noble Energy from an “accumulate” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Wednesday, April 25th. Stifel Nicolaus set a $44.00 price target on shares of Noble Energy and gave the stock a “buy” rating in a research note on Tuesday, April 24th. Credit Suisse Group set a $40.00 price target on shares of Noble Energy and gave the stock a “buy” rating in a research note on Friday, April 13th. Royal Bank of Canada set a $39.00 price target on shares of Noble Energy and gave the stock a “buy” rating in a research note on Friday, April 13th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $40.00 price target on shares of Noble Energy in a research note on Wednesday, April 11th. Eight investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $41.54.

In other news, major shareholder Nbl Midstream, Llc sold 7,475,000 shares of the business’s stock in a transaction dated Friday, June 29th. The shares were sold at an average price of $18.03, for a total value of $134,774,250.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Gary W. Willingham sold 24,646 shares of the business’s stock in a transaction dated Tuesday, July 10th. The stock was sold at an average price of $37.50, for a total transaction of $924,225.00. Following the completion of the sale, the vice president now owns 194,640 shares in the company, valued at $7,299,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,523,166 shares of company stock worth $136,528,815. Insiders own 1.96% of the company’s stock.

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.

See Also: Market Capitalization – What it Means for Investors

Earnings History for Noble Energy (NYSE:NBL)

Receive News & Ratings for Noble Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noble Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit