What's In The Cards For Noble Energy (NBL) In Q4 Earnings?
Zacks Investment Research | Feb 15, 2018 09:42PM ET
Noble Energy Inc. (NYSE:NBL) is scheduled to release fourth-quarter 2017 results on Feb 20. Last quarter, the company reported a positive earnings surprise of 84.62%. Let’s see, how things are shaping up prior to this announcement.
Factors to Consider
Noble Energy is focused on improving its United States onshore assets and oil volumes. The company has taken initiatives to divest non-core assets and primarily concentrate on U.S. onshore and Eastern Mediterranean assets, which might help boost its cash flow and margins. Fourth-quarter U.S. Onshore volumes are anticipated to be 15% higher than the third quarter of 2017 with each commodity expected to increase by double-digits. This clearly indicates the possibility of acquiring a major chunk of sales volume from the company’s domestic operations.
Noble Energy expects its fourth-quarter total sales volume in the range of 380,000-390,000 barrels of oil equivalent per day (Mboe/d), of which, the United States sales volume is estimated in the band of 270-284 Mboe/d. The Zacks Consensus Estimate for fourth-quarter sales volume is pegged at 386 Mboe/d, better than 355 Mboe/d sold during the third quarter and near the higher end of the projected guidance.
A possible rise in crude oil prices is likely to drive the company’s top line. The Zacks Consensus Estimate for crude oil prices in the United States stands at $49.40 per barrel, up 6.5% year over year. Better sales volume combined with higher realized prices for commodities is predicted to positively impact the company’s earnings.
Noble Energy Inc. Price and EPS Surprise
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