-$0.07 Earnings Per Share Expected for Noble Energy, Inc. (NYSE:NBL) This Quarter

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Brokerages forecast that Noble Energy, Inc. (NYSE:NBL) will report earnings of ($0.07) per share for the current quarter, according to Zacks Investment Research. Ten analysts have issued estimates for Noble Energy’s earnings. The lowest EPS estimate is ($0.22) and the highest is $0.09. Noble Energy reported earnings of $0.27 per share in the same quarter last year, which indicates a negative year over year growth rate of 125.9%. The firm is scheduled to announce its next quarterly earnings results on Thursday, November 7th.

On average, analysts expect that Noble Energy will report full-year earnings of ($0.35) per share for the current fiscal year, with EPS estimates ranging from ($0.60) to $0.00. For the next year, analysts forecast that the business will report earnings of $0.47 per share, with EPS estimates ranging from ($0.45) to $3.32. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Noble Energy.

Noble Energy (NYSE:NBL) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas development company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. Noble Energy had a positive return on equity of 0.87% and a negative net margin of 19.93%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the business posted $0.17 earnings per share.

Several equities analysts have weighed in on NBL shares. ValuEngine raised Noble Energy from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Capital One Financial raised Noble Energy from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 23rd. Wells Fargo & Co increased their target price on Noble Energy from $26.00 to $28.00 and gave the company a “market perform” rating in a research note on Monday, August 12th. KeyCorp started coverage on Noble Energy in a research note on Wednesday, July 31st. They issued a “sector weight” rating on the stock. Finally, Piper Jaffray Companies set a $28.00 target price on Noble Energy and gave the company a “buy” rating in a research note on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $32.21.

Shares of NBL opened at $23.30 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.68. Noble Energy has a 12-month low of $17.11 and a 12-month high of $32.73. The firm has a market capitalization of $12.07 billion, a PE ratio of 25.89 and a beta of 1.36. The stock’s fifty day simple moving average is $22.52 and its 200-day simple moving average is $23.06.

A number of large investors have recently added to or reduced their stakes in the business. NuWave Investment Management LLC lifted its position in shares of Noble Energy by 719.3% in the second quarter. NuWave Investment Management LLC now owns 1,147 shares of the oil and gas development company’s stock valued at $26,000 after buying an additional 1,007 shares during the last quarter. Private Capital Group LLC lifted its position in shares of Noble Energy by 1,027.9% in the second quarter. Private Capital Group LLC now owns 1,376 shares of the oil and gas development company’s stock valued at $49,000 after buying an additional 1,254 shares during the last quarter. CSat Investment Advisory L.P. lifted its holdings in Noble Energy by 80.0% during the 2nd quarter. CSat Investment Advisory L.P. now owns 2,340 shares of the oil and gas development company’s stock worth $52,000 after purchasing an additional 1,040 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in Noble Energy by 24.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,071 shares of the oil and gas development company’s stock worth $76,000 after purchasing an additional 600 shares during the last quarter. Finally, FTB Advisors Inc. lifted its holdings in Noble Energy by 356.5% during the 2nd quarter. FTB Advisors Inc. now owns 3,241 shares of the oil and gas development company’s stock worth $72,000 after purchasing an additional 2,531 shares during the last quarter. 98.53% of the stock is currently owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Noble Energy (NYSE:NBL)

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