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 third quarter Zacks Consensus Estimate for earnings of 4 cents per share has decreased to a loss of 15 cents 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 with a positive average surprise of 79.92%.
Zacks Rank: Currently, Noble Energy has a Zacks Rank#2 (Buy) but that could change following its third quarter 2015 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: Adjusted loss per share came in at 21 cents, wider than the Zacks Consensus Estimate of a loss of 15 cents.
Revenue: Revenues of $801 million missed the Zacks Consensus Estimate of $952 million by 15.8% and the year ago revenue by 36.8%.
Key Stats: Noble Energy registered 25.5% year-over-year increase in third quarter total sales volumes to 379 thousand barrels of oil equivalent per day (MBoe/d).
Stock Price: It would be interesting to see how the market reacts to the wider than expected loss during the trading session today.
Check back later for our full write up on this NBL earnings report later!
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