Noble Energy, Inc. to Post Q4 2019 Earnings of ($0.14) Per Share, Piper Jaffray Companies Forecasts (NYSE:NBL)

Noble Energy, Inc. (NYSE:NBL) – Equities researchers at Piper Jaffray Companies dropped their Q4 2019 earnings per share (EPS) estimates for Noble Energy in a research report issued on Wednesday, November 13th. Piper Jaffray Companies analyst R. Todd now expects that the oil and gas development company will post earnings of ($0.14) per share for the quarter, down from their previous forecast of ($0.13). Piper Jaffray Companies has a “Buy” rating and a $28.00 price target on the stock. Piper Jaffray Companies also issued estimates for Noble Energy’s Q1 2020 earnings at ($0.04) EPS, Q1 2021 earnings at $0.18 EPS, Q2 2021 earnings at $0.19 EPS, Q3 2021 earnings at $0.23 EPS and FY2021 earnings at $0.81 EPS.

Noble Energy (NYSE:NBL) last announced its quarterly earnings results on Thursday, November 7th. The oil and gas development company reported ($0.10) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.01. Noble Energy had a negative net margin of 25.33% and a negative return on equity of 0.82%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the firm posted $0.27 EPS. The business’s revenue for the quarter was down 12.1% on a year-over-year basis.

Several other equities research analysts have also weighed in on NBL. KeyCorp initiated coverage on shares of Noble Energy in a report on Wednesday, July 31st. They issued a “sector weight” rating on the stock. Oppenheimer raised shares of Noble Energy from a “market perform” rating to an “outperform” rating and set a $33.00 target price on the stock in a report on Thursday, August 22nd. Morgan Stanley reaffirmed a “buy” rating and issued a $29.00 target price on shares of Noble Energy in a report on Tuesday, November 12th. Citigroup upped their target price on shares of Noble Energy from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Finally, Wolfe Research raised shares of Noble Energy from a “peer perform” rating to an “outperform” rating and lowered their target price for the stock from $31.00 to $30.00 in a report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $30.89.

NBL opened at $20.88 on Monday. The firm’s 50-day simple moving average is $20.65 and its 200-day simple moving average is $21.96. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.55 and a current ratio of 0.55. Noble Energy has a twelve month low of $17.11 and a twelve month high of $28.40. The firm has a market cap of $10.29 billion, a price-to-earnings ratio of 23.20 and a beta of 1.37.

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Noble Energy by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 52,781,608 shares of the oil and gas development company’s stock valued at $1,182,308,000 after purchasing an additional 695,568 shares during the period. Invesco Ltd. lifted its position in Noble Energy by 23.8% during the 2nd quarter. Invesco Ltd. now owns 20,397,565 shares of the oil and gas development company’s stock valued at $456,904,000 after purchasing an additional 3,914,966 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Noble Energy by 2.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,192,328 shares of the oil and gas development company’s stock valued at $49,109,000 after purchasing an additional 59,028 shares during the period. DNB Asset Management AS lifted its position in Noble Energy by 31.4% during the 2nd quarter. DNB Asset Management AS now owns 2,025,531 shares of the oil and gas development company’s stock valued at $45,372,000 after purchasing an additional 483,966 shares during the period. Finally, Poplar Forest Capital LLC lifted its position in Noble Energy by 10.9% during the 3rd quarter. Poplar Forest Capital LLC now owns 2,017,675 shares of the oil and gas development company’s stock valued at $45,317,000 after purchasing an additional 199,000 shares during the period. 98.64% of the stock is currently owned by hedge funds and other institutional investors.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Friday, November 1st. Noble Energy’s dividend payout ratio is currently 53.33%.

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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