Equities analysts forecast that Noble Energy, Inc. (NYSE:NBL) will post sales of $1.11 billion for the current quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Noble Energy’s earnings. The lowest sales estimate is $1.01 billion and the highest is $1.27 billion. Noble Energy posted sales of $1.23 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 9.8%. The company is expected to announce its next quarterly earnings report on Friday, August 2nd.
According to Zacks, analysts expect that Noble Energy will report full year sales of $4.63 billion for the current fiscal year, with estimates ranging from $4.27 billion to $5.17 billion. For the next fiscal year, analysts expect that the firm will post sales of $5.86 billion, with estimates ranging from $5.14 billion to $7.68 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Noble Energy.
Noble Energy (NYSE:NBL) last announced its quarterly earnings results on Friday, May 3rd. The oil and gas development company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). Noble Energy had a negative net margin of 19.63% and a positive return on equity of 2.01%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the business posted $0.35 EPS. Noble Energy’s revenue for the quarter was down 18.2% compared to the same quarter last year.
In related news, Director James E. Craddock sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $23.62, for a total transaction of $212,580.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.81% of the company’s stock.
Large investors have recently modified their holdings of the stock. Eagle Boston Investment Management Inc. boosted its stake in Noble Energy by 1.2% in the 1st quarter. Eagle Boston Investment Management Inc. now owns 42,833 shares of the oil and gas development company’s stock worth $1,059,000 after purchasing an additional 524 shares during the period. Huntington National Bank boosted its stake in Noble Energy by 59.2% in the 4th quarter. Huntington National Bank now owns 1,430 shares of the oil and gas development company’s stock worth $27,000 after purchasing an additional 532 shares during the period. LS Investment Advisors LLC boosted its stake in Noble Energy by 3.2% in the 1st quarter. LS Investment Advisors LLC now owns 23,856 shares of the oil and gas development company’s stock worth $590,000 after purchasing an additional 737 shares during the period. M&T Bank Corp boosted its stake in Noble Energy by 2.5% in the 4th quarter. M&T Bank Corp now owns 31,260 shares of the oil and gas development company’s stock worth $587,000 after purchasing an additional 771 shares during the period. Finally, BOKF NA boosted its stake in Noble Energy by 4.3% in the 4th quarter. BOKF NA now owns 19,160 shares of the oil and gas development company’s stock worth $360,000 after purchasing an additional 794 shares during the period. Hedge funds and other institutional investors own 97.74% of the company’s stock.
Shares of NYSE:NBL traded up $0.33 during trading hours on Friday, hitting $24.61. The stock had a trading volume of 110,432 shares, compared to its average volume of 6,196,262. Noble Energy has a 1-year low of $17.11 and a 1-year high of $37.76. The firm has a market capitalization of $11.74 billion, a P/E ratio of 27.36 and a beta of 1.38. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 6th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.95%. This is a boost from Noble Energy’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Friday, May 3rd. Noble Energy’s dividend payout ratio (DPR) is presently 53.33%.
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. The company owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins.
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