Houston, TX-based Noble Energy Inc. (NBL) is an independent oil and gas exploration and production (E&P) company, having high-grade hydrocarbon assets across the U.S. and several international locations.
Noble Energy chiefly focuses on organic growth from exploration and development drilling activities. This is further strengthened by strategic mergers and acquisitions. The company is actively engaged in periodic divestments to upgrade its portfolio.
Noble Energy profitability has been affected by falling crude oil prices. Keeping in mind the low commodity price environment, the company is currently focusing on best-return assets to maximize existing facility infrastructure
Estimate Trend & Surprise History
Investors should note that the second quarter Zacks Consensus Estimate for earnings of 6 cents per share has increased 100.0% over the last 90 days.
Coming to the earnings surprise, Noble Energy has surpassed the Zacks Consensus Estimate in two of the last four quarters. However, substantial miss in one quarter has resulted in a negative average surprise of 0.88%.
Zacks Ran k: Currently, Noble Energy has a Zacks Rank#3 (Hold) but that could change following its second quarter 2015 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: Noble Energy beat on earnings. Adjusted earnings per share came in at 26 cents, beating the Zacks Consensus Estimate of 6 cents by whopping 333.3%.
Revenue: Revenues of $730 million missed the Zacks Consensus Estimate of $856 million by 14.7% and the year ago revenue by 47.2%.
Key Stats: Noble Energy registered 3% year-over-year increase in second quarter total sales volumes to 299 thousand barrels of oil equivalent per day (MBoe/d).
Stock Price: It would be interesting to see how the market reacts to the earnings beat during the trading session today.
Check back later for our full write up on this NBL earnings report later!
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