Noble Energy closed the most recent trading day at $9.14, moving -0.33% from the previous trading session. This change lagged the S&P 500's 1.27% gain on the day. Elsewhere, the Dow gained 1.18%, while the tech-heavy Nasdaq added 1.87%.
Coming into today, shares of the oil and gas company had lost 13.25% in the past month. In that same time, the Oils-Energy sector lost 9.84%, while the S&P 500 gained 0.37%.
Investors will be hoping for strength from NBL as it approaches its next earnings release. The company is expected to report EPS of -$0.28, down 180% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $779.96 million, down 30.3% from the prior-year quarter.
NBL's full-year Zacks Consensus Estimates are calling for earnings of -$0.58 per share and revenue of $3.29 billion. These results would represent year-over-year changes of -65.71% and -25.82%, respectively.
It is also important to note the recent changes to analyst estimates for NBL. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.54% higher. NBL is currently sporting a Zacks Rank of #3 (Hold).
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 119, putting it in the top 47% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.