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Noble Energy (NBL) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research
·2 mins read

Noble Energy (NBL) closed at $8.49 in the latest trading session, marking a -0.12% move from the prior day. This change lagged the S&P 500's 1.6% gain on the day. Meanwhile, the Dow gained 1.34%, and the Nasdaq, a tech-heavy index, added 2.26%.

Heading into today, shares of the oil and gas company had lost 15.34% over the past month, lagging the Oils-Energy sector's loss of 14.06% and the S&P 500's loss of 5.3% in that time.

NBL will be looking to display strength as it nears its next earnings release. On that day, NBL is projected to report earnings of -$0.21 per share, which would represent a year-over-year decline of 110%. 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 -$0.40 per share and revenue of $3.29 billion. These results would represent year-over-year changes of -14.29% and -25.82%, respectively.

Any recent changes to analyst estimates for NBL should also be noted by investors. 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.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 162, putting it in the bottom 37% 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.


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