Houston, TX-based Noble Energy Inc. 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 loss of 29 cents per share has narrowed by 14.3% over the last 90 days.
Coming to the earnings surprise, Noble Energy has surpassed the Zacks Consensus Estimate in three of the last four quarters, resulting in average positive surprise of 373.8%.
Zacks Rank: Currently, Noble Energy has a Zacks Rank#2 (Buy). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. We have mentioned below some of the vital information from this just-revealed announcement:
Earnings: Noble Energy’s loss per share of 24 cents in second quarter was narrower than the Zacks Consensus Estimate loss of 30 cents.
Revenue: Revenues of $847 million missed the Zacks Consensus Estimate of $891 million by 4.9% but surpassed the year ago revenue by 14.8%.
Key Stats: Noble Energy registered 43% year-over-year increase in second quarter total sales volumes to 427 thousand barrels of oil equivalent per day (MBoe/d).
Stock Price: It would be interesting to see how the market reacts to narrower 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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Noble (NBL) Q2 Loss Narrower than Expected, Revenues Lag
Houston, TX-based Noble Energy Inc. 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.
NOBLE ENERGY Price and EPS Surprise
NOBLE ENERGY Price and EPS Surprise | NOBLE ENERGY Quote
Estimate Trend & Surprise History
Investors should note that the second quarter Zacks Consensus Estimate for loss of 29 cents per share has narrowed by 14.3% over the last 90 days.
Coming to the earnings surprise, Noble Energy has surpassed the Zacks Consensus Estimate in three of the last four quarters, resulting in average positive surprise of 373.8%.
Zacks Rank: Currently, Noble Energy has a Zacks Rank#2 (Buy). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. We have mentioned below some of the vital information from this just-revealed announcement:
Earnings: Noble Energy’s loss per share of 24 cents in second quarter was narrower than the Zacks Consensus Estimate loss of 30 cents.
Revenue: Revenues of $847 million missed the Zacks Consensus Estimate of $891 million by 4.9% but surpassed the year ago revenue by 14.8%.
Key Stats: Noble Energy registered 43% year-over-year increase in second quarter total sales volumes to 427 thousand barrels of oil equivalent per day (MBoe/d).
Stock Price: It would be interesting to see how the market reacts to narrower than expected loss during the trading session today.
Check back later for our full write up on this NBL earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>