Brokerages Anticipate Noble Energy, Inc. (NYSE:NBL) Will Announce Earnings of -$0.10 Per Share

Brokerages predict that Noble Energy, Inc. (NYSE:NBL) will report earnings per share (EPS) of ($0.10) for the current quarter, according to Zacks. Eight analysts have issued estimates for Noble Energy’s earnings. The lowest EPS estimate is ($0.21) and the highest is $0.03. Noble Energy posted earnings per share of $0.12 in the same quarter last year, which suggests a negative year-over-year growth rate of 183.3%. The company is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, February 12th.

According to Zacks, analysts expect that Noble Energy will report full-year earnings of ($0.39) per share for the current fiscal year, with EPS estimates ranging from ($0.49) to ($0.26). For the next year, analysts expect that the company will post earnings of $0.15 per share, with EPS estimates ranging from ($0.44) to $0.78. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Noble Energy.

Noble Energy (NYSE:NBL) last posted its quarterly earnings results on Thursday, November 7th. The oil and gas development company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. Noble Energy had a negative return on equity of 0.82% and a negative net margin of 25.33%. The business’s revenue was down 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 earnings per share.

A number of equities research analysts have recently issued reports on NBL shares. Susquehanna Bancshares began coverage on Noble Energy in a research report on Tuesday. They issued a “positive” rating and a $27.00 price objective for the company. Morgan Stanley reiterated a “buy” rating and issued a $29.00 price objective on shares of Noble Energy in a research report on Tuesday, November 12th. MKM Partners began coverage on Noble Energy in a research report on Wednesday, November 20th. They issued a “buy” rating and a $27.00 price objective for the company. Wolfe Research upgraded Noble Energy from a “peer perform” rating to an “outperform” rating and lowered their price objective for the stock from $31.00 to $30.00 in a research report on Tuesday, October 15th. Finally, Wells Fargo & Co increased their price objective on Noble Energy from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $31.26.

Shares of NBL stock traded up $0.78 during trading hours on Thursday, reaching $23.54. The company had a trading volume of 5,657,300 shares, compared to its average volume of 5,869,100. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a fifty day moving average of $22.80 and a 200-day moving average of $21.89. The company has a market capitalization of $10.65 billion, a price-to-earnings ratio of 26.16 and a beta of 1.43. Noble Energy has a 12-month low of $19.01 and a 12-month high of $28.40.

In other news, Director Thomas J. Edelman sold 200,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $23.98, for a total value of $4,796,000.00. Following the sale, the director now directly owns 3,368,284 shares in the company, valued at $80,771,450.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David L. Stover acquired 12,000 shares of Noble Energy stock in a transaction dated Wednesday, December 4th. The stock was bought at an average price of $20.92 per share, for a total transaction of $251,040.00. Following the completion of the purchase, the chief executive officer now owns 680,453 shares of the company’s stock, valued at approximately $14,235,076.76. The disclosure for this purchase can be found here. 1.81% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its holdings in Noble Energy by 16.5% in the third quarter. Envestnet Asset Management Inc. now owns 243,058 shares of the oil and gas development company’s stock valued at $5,459,000 after buying an additional 34,498 shares during the last quarter. Pictet Asset Management Ltd. increased its holdings in Noble Energy by 3.4% in the third quarter. Pictet Asset Management Ltd. now owns 243,373 shares of the oil and gas development company’s stock valued at $5,466,000 after buying an additional 7,900 shares during the last quarter. Waratah Capital Advisors Ltd. purchased a new position in Noble Energy in the third quarter valued at $9,646,000. Daiwa Securities Group Inc. increased its holdings in Noble Energy by 22.9% in the third quarter. Daiwa Securities Group Inc. now owns 22,208 shares of the oil and gas development company’s stock valued at $499,000 after buying an additional 4,144 shares during the last quarter. Finally, National Pension Service increased its holdings in Noble Energy by 5.5% in the third quarter. National Pension Service now owns 645,232 shares of the oil and gas development company’s stock valued at $14,492,000 after buying an additional 33,688 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

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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