Noble Energy (NYSE:NBL) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Noble Energy (NYSE:NBL) released its quarterly earnings data on Friday. The oil and gas development company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.03, Bloomberg Earnings reports. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. Noble Energy had a positive return on equity of 2.05% and a negative net margin of 19.63%. During the same period in the previous year, the company posted $0.17 EPS.

NBL stock traded up $1.50 during midday trading on Friday, hitting $21.88. 12,090,193 shares of the company’s stock were exchanged, compared to its average volume of 4,186,783. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.66. Noble Energy has a 12-month low of $17.11 and a 12-month high of $33.50. The business has a 50 day moving average of $21.44. The firm has a market capitalization of $10.46 billion, a PE ratio of 24.31 and a beta of 1.41.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Monday, August 5th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, August 2nd. This represents a $0.48 annualized dividend and a yield of 2.19%. Noble Energy’s dividend payout ratio is presently 53.33%.

Several equities analysts recently commented on the company. Capital One Financial raised Noble Energy from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 23rd. Morgan Stanley reduced their price target on Noble Energy from $33.00 to $30.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. TD Securities reduced their price target on Noble Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. UBS Group set a $34.00 price target on Noble Energy and gave the stock a “buy” rating in a research report on Thursday, May 16th. Finally, JPMorgan Chase & Co. raised Noble Energy from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $28.00 to $32.00 in a research report on Monday, April 29th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Noble Energy currently has a consensus rating of “Buy” and an average target price of $37.07.

Hedge funds have recently bought and sold shares of the business. NuWave Investment Management LLC increased its holdings in Noble Energy by 719.3% during the 2nd quarter. NuWave Investment Management LLC now owns 1,147 shares of the oil and gas development company’s stock worth $26,000 after purchasing an additional 1,007 shares during the last quarter. Moody National Bank Trust Division bought a new stake in shares of Noble Energy in the 1st quarter valued at approximately $31,000. Truvestments Capital LLC bought a new stake in shares of Noble Energy in the 1st quarter valued at approximately $47,000. Investors Research Corp bought a new stake in shares of Noble Energy in the 1st quarter valued at approximately $75,000. Finally, Wealthcare Advisory Partners LLC increased its holdings in shares of Noble Energy by 24.3% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,071 shares of the oil and gas development company’s stock valued at $76,000 after acquiring an additional 600 shares during the last quarter. Institutional investors own 99.00% of the company’s stock.

About Noble Energy

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 for Noble Energy (NYSE:NBL)

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