Noble Energy Inc. NBL is scheduled to release fourth-quarter 2018 results on Feb 19. In the last reported quarter, the company pulled off positive earnings surprise of 68.75%.
Factors to Consider
The Zacks Consensus Estimate for total revenues is pegged at $1.17 billion, representing 2.58% fall on a year-over-year basis. The consensus mark for fourth-quarter earnings is pegged at 11 cents per share, reflecting a decline of 65.63% on a year-over-year basis.
Noble Energy expects fourth-quarter total sales volume in the range of 337-349 thousand barrels of oil equivalent per day (MBoe/d) and anticipates capex in the range of $625-$700 million.
In the fourth quarter the company expects U. S crude oil sales volume per day in the range of 109-119 MBoe/d , the midpoint of which is lower than the Zacks Consensus Estimate of 116 MBoe/d. The Zacks Consensus Estimate for fourth-quarter Israel natural gas volumes is pegged at 232 million cubic fit per day (MMcf/d), which is higher than the midpoint of the company's guidance of 220-240 MMcf/d.
The company expects productivity from the first row of Mustang IDP development to contribute to growth from the DJ Basin.
A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to be able to beat estimates. However, Noble Energy does not have the right combination, which is elaborated below.
Earnings ESP: The company’s Earnings ESP is -5.12%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The stock carries a Zacks Rank #3.
However, we caution against stocks with a Zacks Rank #4 (Sell) or 5 (Strong Sell) going into the earnings announcement, especially when the company is seeing a negative estimate revision momentum.
Stocks to Consider
Investors can consider the following players in the Zacks Oil and Energy sector with the right combination of elements to deliver a beat in their upcoming releases.
Warrior Met Coal Inc HCC has an Earnings ESP of +4.97% and a Zacks Rank #1. It is expected to release fourth-quarter 2018 results on Feb 21. You can see the complete list of today’s Zacks #1 Rank stocks here.
Canadian Solar Inc CSIQ has an Earnings ESP of +82.08% and a Zacks Rank of 1. It is expected to report fourth-quarter 2018 results on Mar 21.
WPX Energy has an Earnings ESP of +3.80% and a Zacks Rank #3. The company is expected to post fourth-quarter 2018 results on Feb 21.
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