Noble Energy (NYSE:NBL) Announces Quarterly Earnings Results

Noble Energy (NYSE:NBL) posted its earnings results on Wednesday. The oil and gas development company reported ($0.05) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.03, RTT News reports. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.10 billion. Noble Energy had a negative net margin of 25.33% and a negative return on equity of 0.82%. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the business posted $0.12 earnings per share.

NBL traded down $0.05 during trading on Friday, reaching $19.55. 1,211,055 shares of the company’s stock were exchanged, compared to its average volume of 5,875,467. Noble Energy has a one year low of $18.90 and a one year high of $28.40. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $9.42 billion, a PE ratio of 21.72 and a beta of 1.43. The firm has a fifty day moving average price of $22.14 and a two-hundred day moving average price of $21.80.

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 10th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Friday, February 7th. Noble Energy’s payout ratio is 53.33%.

In related news, Director Thomas J. Edelman sold 200,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $23.98, for a total transaction of $4,796,000.00. Following the transaction, the director now owns 3,368,284 shares in the company, valued at approximately $80,771,450.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott D. Urban bought 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average price of $20.38 per share, for a total transaction of $305,700.00. Following the transaction, the director now directly owns 48,118 shares in the company, valued at $980,644.84. The disclosure for this purchase can be found here. Insiders own 1.81% of the company’s stock.

NBL has been the topic of several research reports. Tudor Pickering lowered shares of Noble Energy from a “buy” rating to a “hold” rating and set a $24.00 price target on the stock. in a report on Tuesday, January 7th. Morgan Stanley reaffirmed a “buy” rating and set a $29.00 price target on shares of Noble Energy in a report on Tuesday, November 12th. Cfra decreased their price target on shares of Noble Energy from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday. Susquehanna Bancshares initiated coverage on shares of Noble Energy in a report on Tuesday, January 14th. They set a “positive” rating and a $27.00 price target on the stock. Finally, Wells Fargo & Co lifted their price target on shares of Noble Energy from $24.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, January 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seventeen have issued a buy rating to the stock. Noble Energy currently has a consensus rating of “Buy” and an average target price of $30.25.

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.

See Also: Depreciation

Earnings History for Noble Energy (NYSE:NBL)

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