Brokerages Expect Noble Energy, Inc. (NYSE:NBL) Will Post Earnings of -$0.09 Per Share

Analysts forecast that Noble Energy, Inc. (NYSE:NBL) will announce earnings per share of ($0.09) for the current quarter, Zacks Investment Research reports. Ten analysts have issued estimates for Noble Energy’s earnings. The highest EPS estimate is $0.02 and the lowest is ($0.30). Noble Energy posted earnings of $0.27 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 133.3%. The firm is expected to report its next quarterly earnings report before the market opens on Thursday, November 7th.

On average, analysts expect that Noble Energy will report full year earnings of ($0.37) per share for the current fiscal year, with EPS estimates ranging from ($0.75) to $0.00. For the next fiscal year, analysts anticipate that the company will post earnings of $0.39 per share, with EPS estimates ranging from ($0.45) to $3.32. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Noble Energy.

Noble Energy (NYSE:NBL) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas development company reported ($0.10) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.03. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.05 billion. Noble Energy had a positive return on equity of 0.87% and a negative net margin of 19.93%. During the same period in the prior year, the firm posted $0.17 earnings per share.

NBL has been the subject of several research analyst reports. Piper Jaffray Companies set a $28.00 price target on Noble Energy and gave the stock a “buy” rating in a research note on Friday, August 16th. Oppenheimer upgraded Noble Energy from a “market perform” rating to an “outperform” rating and set a $33.00 price target for the company in a research note on Thursday, August 22nd. Morgan Stanley dropped their price target on Noble Energy from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. KeyCorp initiated coverage on Noble Energy in a research note on Wednesday, July 31st. They set a “sector weight” rating for the company. Finally, Citigroup upped their price target on Noble Energy from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Noble Energy currently has a consensus rating of “Buy” and an average price target of $32.14.

Hedge funds have recently bought and sold shares of the company. NuWave Investment Management LLC grew its stake in Noble Energy by 719.3% during the 2nd quarter. NuWave Investment Management LLC now owns 1,147 shares of the oil and gas development company’s stock valued at $26,000 after purchasing an additional 1,007 shares in the last quarter. Private Capital Group LLC grew its stake in Noble Energy by 1,027.9% during the 2nd quarter. Private Capital Group LLC now owns 1,376 shares of the oil and gas development company’s stock valued at $49,000 after purchasing an additional 1,254 shares in the last quarter. CSat Investment Advisory L.P. grew its stake in Noble Energy by 80.0% during the 2nd quarter. CSat Investment Advisory L.P. now owns 2,340 shares of the oil and gas development company’s stock valued at $52,000 after purchasing an additional 1,040 shares in the last quarter. FTB Advisors Inc. grew its stake in Noble Energy by 356.5% during the 2nd quarter. FTB Advisors Inc. now owns 3,241 shares of the oil and gas development company’s stock valued at $72,000 after purchasing an additional 2,531 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC grew its stake in Noble Energy by 24.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,071 shares of the oil and gas development company’s stock valued at $76,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 98.53% of the company’s stock.

NYSE:NBL traded up $0.67 on Thursday, hitting $20.12. 6,466,571 shares of the stock were exchanged, compared to its average volume of 5,798,815. The stock has a market cap of $9.43 billion, a PE ratio of 22.36 and a beta of 1.36. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.68. The stock has a fifty day moving average of $22.47 and a 200-day moving average of $22.91. Noble Energy has a fifty-two week low of $17.11 and a fifty-two week high of $32.15.

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. The company owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins.

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

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