$1.08 Billion in Sales Expected for Noble Energy, Inc. (NYSE:NBL) This Quarter

Wall Street analysts expect Noble Energy, Inc. (NYSE:NBL) to announce sales of $1.08 billion for the current quarter, Zacks reports. Ten analysts have issued estimates for Noble Energy’s earnings, with the highest sales estimate coming in at $1.27 billion and the lowest estimate coming in at $941.00 million. Noble Energy reported sales of $1.23 billion during the same quarter last year, which would suggest a negative year over year growth rate of 12.2%. The company is expected to announce its next earnings results before the market opens on Friday, August 2nd.

According to Zacks, analysts expect that Noble Energy will report full-year sales of $4.57 billion for the current financial year, with estimates ranging from $4.23 billion to $5.17 billion. For the next financial year, analysts expect that the business will report sales of $5.75 billion, with estimates ranging from $4.95 billion to $7.72 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Noble Energy.

Noble Energy (NYSE:NBL) last posted its quarterly earnings results on Friday, May 3rd. The oil and gas development company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1 billion. Noble Energy had a positive return on equity of 2.05% and a negative net margin of 19.63%. The firm’s revenue was down 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS.

Several research analysts have recently weighed in on the company. Mitsubishi UFJ Financial Group cut their price target on Noble Energy to $34.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. JPMorgan Chase & Co. set a €118.00 ($137.21) price target on Deutsche Boerse and gave the stock a “neutral” rating in a research note on Monday, April 29th. ValuEngine upgraded ZIX from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 4th. Capital One Financial upgraded Cimarex Energy from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 23rd. Finally, Morgan Stanley set a $207.00 price target on Alibaba Group and gave the stock a “buy” rating in a research note on Friday, July 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $37.07.

Several large investors have recently added to or reduced their stakes in the business. Livforsakringsbolaget Skandia Omsesidigt grew its position in Noble Energy by 53.4% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,604 shares of the oil and gas development company’s stock worth $148,000 after acquiring an additional 2,300 shares during the last quarter. NuWave Investment Management LLC grew its position 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 worth $26,000 after acquiring an additional 1,007 shares during the last quarter. NEXT Financial Group Inc bought a new position in Noble Energy during the 2nd quarter worth approximately $76,000. CWM Advisors LLC grew its position in Noble Energy by 20.5% during the 2nd quarter. CWM Advisors LLC now owns 23,504 shares of the oil and gas development company’s stock worth $526,000 after acquiring an additional 3,998 shares during the last quarter. Finally, IFM Investors Pty Ltd grew its position in Noble Energy by 30.5% during the 2nd quarter. IFM Investors Pty Ltd now owns 37,038 shares of the oil and gas development company’s stock worth $830,000 after acquiring an additional 8,664 shares during the last quarter. 99.16% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NBL stock traded up $0.35 on Friday, hitting $21.19. 2,680,794 shares of the stock were exchanged, compared to its average volume of 4,477,355. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $9.97 billion, a price-to-earnings ratio of 23.54 and a beta of 1.44. Noble Energy has a one year low of $17.11 and a one year high of $36.27. The firm has a 50 day moving average price of $21.40.

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.

Read More: Back-End Load

Get a free copy of the Zacks research report on Noble Energy (NBL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates 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.