Noble Energy, Inc. Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Noble Energy, Inc. (NYSE:NBL) will unveil its latest earnings on Thursday, July 28, 2011. Noble Energy, Inc. is an independent energy company that acquires and produce crude oil, natural gas (NYSE:UNG) and natural gas liquids.

Noble Energy, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of $1.32 per share, a rise of 23.4% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from $1.26. Between one and three months ago, the average estimate was unchanged, but has risen during the last month. For the year, analysts are projecting profit of $5.15 per share, a rise of 22% from last year.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 19 cents, reporting net income of $1.35 per share against a mean estimate of profit of $1.16 per share.

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Wall St. Revenue Expectations: On average, analysts predict $919.1 million in revenue this quarter, a rise of 22.4% from the year ago quarter. Analysts are forecasting total revenue of $3.67 billion for the year, a rise of 21.5% from last year’s revenue of $3.02 billion.

Analyst Ratings: 12 out of 20 analysts surveyed (60%) have a buy rating on Noble Energy.. This is below the mean analyst rating of 10 competitors, which average 70.8% buy ratings. Over the past 90 days, the average rating for the stock has moved up from hold to moderate buy.

Key Stats:

Revenue has risen the past four quarters. Revenue increased 27.2% to $899 million in first quarter. The figure rose 3% in the fourth quarter of the last fiscal year from the year earlier, climbed 21% in the third quarter of the last fiscal year from the year-ago quarter and 53.1% in the second quarter of the last fiscal year.

Competitors to Watch: Marathon Oil Corporation (NYSE:MRO), Anadarko Petroleum Corp. (NYSE:APC), EOG Resources, Inc. (NYSE:EOG), Newfield Exploration Co. (NYSE:NFX), Chevron Corporation (NYSE:CVX), Apache Corporation (NYSE:APA), Harvest Natural Resources, Inc. (NYSE:HNR), Murphy Oil Corporation (NYSE:MUR), Crimson Exploration Inc. (NASDAQ:CXPO), and ATP Oil & Gas Corporation (NASDAQ:ATPG).

Stock Price Performance: During June 23, 2011 to July 22, 2011, the stock price had risen $11.94 (13.9%) from $85.63 to $97.57. The stock price saw one of its best stretches over the last year between June 24, 2011 and July 5, 2011 when shares rose for seven-straight days, rising 7% (+$5.98) over that span. It saw one of its worst periods between December 29, 2010 and January 6, 2011 when shares fell for seven-straight days, falling 5.2% (-$4.51) over that span. Shares are up $11.84 (+13.8%) year to date.

(Source: Xignite Financials)

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