Equities analysts expect Noble Energy Inc. (NYSE:NBL) to report sales of $910.71 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Noble Energy’s earnings. The highest sales estimate is $939.20 million and the lowest is $844.77 million. Noble Energy posted sales of $910.00 million in the same quarter last year, which suggests a positive year over year growth rate of 0.1%. The business is expected to issue its next quarterly earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Noble Energy will report full-year sales of $910.71 million for the current fiscal year, with estimates ranging from $3.89 billion to $4.25 billion. For the next year, analysts expect that the firm will post sales of $4.67 billion per share, with estimates ranging from $4.30 billion to $5.21 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Noble Energy.
Noble Energy (NYSE:NBL) last announced its earnings results on Thursday, August 3rd. The oil and gas development company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.18. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Noble Energy had a negative net margin of 46.63% and a positive return on equity of 0.86%. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.24) earnings per share.
A number of equities analysts recently issued reports on NBL shares. Stifel Nicolaus reiterated a “buy” rating and issued a $43.00 price target on shares of Noble Energy in a research note on Friday, May 26th. ValuEngine cut shares of Noble Energy from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Credit Suisse Group reiterated an “outperform” rating and issued a $50.00 price target on shares of Noble Energy in a research note on Friday, June 2nd. Tudor Pickering upgraded shares of Noble Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, June 6th. Finally, BidaskClub upgraded shares of Noble Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $41.36.
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Shares of Noble Energy (NYSE:NBL) traded up 0.019% during mid-day trading on Tuesday, hitting $26.955. 2,690,383 shares of the stock traded hands. The company’s market capitalization is $12.72 billion. Noble Energy has a 1-year low of $22.99 and a 1-year high of $42.03. The company’s 50-day moving average price is $24.87 and its 200 day moving average price is $29.58.
A number of institutional investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC increased its holdings in Noble Energy by 22.3% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,399,448 shares of the oil and gas development company’s stock worth $39,604,000 after acquiring an additional 255,300 shares in the last quarter. Sentry Investment Management LLC increased its holdings in Noble Energy by 1.9% in the 2nd quarter. Sentry Investment Management LLC now owns 34,495 shares of the oil and gas development company’s stock worth $976,000 after acquiring an additional 650 shares in the last quarter. Toronto Dominion Bank increased its holdings in Noble Energy by 226.8% in the 2nd quarter. Toronto Dominion Bank now owns 384,543 shares of the oil and gas development company’s stock worth $10,880,000 after acquiring an additional 266,884 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Noble Energy in the 2nd quarter worth approximately $560,000. Finally, Gofen & Glossberg LLC IL increased its holdings in Noble Energy by 5.3% in the 2nd quarter. Gofen & Glossberg LLC IL now owns 9,129 shares of the oil and gas development company’s stock worth $258,000 after acquiring an additional 456 shares in the last quarter. 91.68% of the stock is owned by institutional investors.
About Noble Energy
Noble Energy, Inc is an independent energy company. The Company is engaged in crude oil, natural gas and natural gas and natural gas liquids (NGLs) exploration, development, production and acquisition. The Company’s segments include: United States, including the onshore DJ Basin, Permian Basin, Eagle Ford Shale, Marcellus Shale and offshore deepwater Gulf of Mexico, as well as the consolidated accounts of Noble Midstream Partners LP (Noble Midstream Partners); Eastern Mediterranean, including offshore Israel and Cyprus; West Africa, including offshore Equatorial Guinea, Cameroon and Gabon, and Other International and Corporate, including new ventures, such as offshore the Falkland Islands, Suriname and Newfoundland.
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