Wall Street analysts expect that Noble Energy, Inc. (NYSE:NBL) will report earnings per share of $0.25 for the current quarter, Zacks reports. Eight analysts have provided estimates for Noble Energy’s earnings. The lowest EPS estimate is $0.14 and the highest is $0.50. Noble Energy posted earnings of ($0.05) per share in the same quarter last year, which indicates a positive year over year growth rate of 600%. The business is expected to issue its next earnings report on Monday, May 7th.
According to Zacks, analysts expect that Noble Energy will report full year earnings of $0.92 per share for the current year, with EPS estimates ranging from $0.47 to $1.81. For the next year, analysts forecast that the business will report earnings of $1.38 per share, with EPS estimates ranging from $0.72 to $2.39. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Noble Energy.
Noble Energy (NYSE:NBL) last announced its quarterly earnings data on Tuesday, February 20th. The oil and gas development company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.28. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.18 billion. Noble Energy had a positive return on equity of 1.46% and a negative net margin of 26.27%. The company’s revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 earnings per share.
In other Noble Energy news, CEO David L. Stover acquired 19,000 shares of Noble Energy stock in a transaction that occurred on Monday, December 18th. The stock was purchased at an average cost of $26.31 per share, with a total value of $499,890.00. Following the purchase, the chief executive officer now owns 727,254 shares in the company, valued at $19,134,052.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kenneth M. Fisher sold 7,621 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $28.80, for a total value of $219,484.80. Following the completion of the sale, the chief financial officer now directly owns 197,144 shares of the company’s stock, valued at $5,677,747.20. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. lifted its stake in Noble Energy by 3.8% in the 4th quarter. American Century Companies Inc. now owns 8,726,274 shares of the oil and gas development company’s stock worth $254,284,000 after acquiring an additional 321,942 shares in the last quarter. Jennison Associates LLC increased its position in Noble Energy by 3.5% in the 4th quarter. Jennison Associates LLC now owns 8,365,528 shares of the oil and gas development company’s stock worth $243,771,000 after purchasing an additional 286,126 shares during the last quarter. Artisan Partners Limited Partnership increased its position in Noble Energy by 1.7% in the 3rd quarter. Artisan Partners Limited Partnership now owns 7,172,711 shares of the oil and gas development company’s stock worth $203,418,000 after purchasing an additional 121,877 shares during the last quarter. Geode Capital Management LLC increased its position in Noble Energy by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 5,235,837 shares of the oil and gas development company’s stock worth $152,254,000 after purchasing an additional 140,886 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its position in Noble Energy by 7.4% in the 4th quarter. OppenheimerFunds Inc. now owns 4,399,822 shares of the oil and gas development company’s stock worth $128,211,000 after purchasing an additional 302,201 shares during the last quarter. 95.71% of the stock is owned by hedge funds and other institutional investors.
Shares of Noble Energy (NYSE:NBL) traded up $0.07 during trading on Thursday, hitting $29.40. The stock had a trading volume of 5,492,468 shares, compared to its average volume of 5,694,744. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.27. The firm has a market capitalization of $14,470.44, a price-to-earnings ratio of -12.30 and a beta of 1.10. Noble Energy has a twelve month low of $22.99 and a twelve month high of $35.74.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Monday, February 12th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Friday, February 9th. Noble Energy’s dividend payout ratio is currently -16.74%.
Noble Energy announced that its Board of Directors has initiated a stock repurchase program on Thursday, February 15th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the oil and gas development company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
Noble Energy Company Profile
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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