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Noble Energy

DB:NB6
Snowflake Description

Fair value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NB6
DB
$3B
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

Noble Energy, Inc., an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and natural gas worldwide. The last earnings update was 47 days ago. More info.


Add to Portfolio Compare Print
  • Noble Energy has significant price volatility in the past 3 months.
NB6 Share Price and Events
7 Day Returns
8.3%
DB:NB6
18.1%
DE Oil and Gas
7.3%
DE Market
1 Year Returns
-80%
DB:NB6
21.9%
DE Oil and Gas
-17.7%
DE Market
NB6 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Noble Energy (NB6) 8.3% -67.4% -80.2% -80% -86.1% -90%
DE Oil and Gas 18.1% -15.9% -28.7% 21.9% -25.6% 137.4%
DE Market 7.3% -17.9% -25.8% -17.7% -25.6% -29%
1 Year Return vs Industry and Market
  • NB6 underperformed the Oil and Gas industry which returned 21.9% over the past year.
  • NB6 underperformed the Market in Germany which returned -17.7% over the past year.
Price Volatility
NB6
Industry
5yr Volatility vs Market

Value

 Is Noble Energy undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Noble Energy to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Noble Energy.

DB:NB6 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 20 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:NB6
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.81
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.808 (1 + (1- 21%) (305.77%))
2.179
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (2 * 5.44%)
10.49%

Discounted Cash Flow Calculation for DB:NB6 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Noble Energy is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:NB6 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.49%)
2020 417.00 Analyst x8 377.41
2021 652.00 Analyst x5 534.07
2022 526.00 Analyst x2 389.96
2023 1,132.50 Analyst x2 759.88
2024 1,183.00 Analyst x2 718.41
2025 1,214.78 Est @ 2.69% 667.66
2026 1,236.20 Est @ 1.76% 614.93
2027 1,250.01 Est @ 1.12% 562.77
2028 1,258.32 Est @ 0.67% 512.73
2029 1,262.71 Est @ 0.35% 465.66
Present value of next 10 years cash flows $5,603.00
DB:NB6 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $1,262.71 × (1 + -0.39%) ÷ (10.49% – -0.39%)
$11,560.50
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $11,560.50 ÷ (1 + 10.49%)10
$4,263.31
DB:NB6 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $5,603.00 + $4,263.31
$9,866.31
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $9,866.31 / 478.62
$20.61
DB:NB6 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:NB6 represents 0.83616x of NasdaqGS:NBL
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.83616x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 20.61 x 0.83616
€17.24
Value per share (EUR) From above. €17.24
Current discount Discount to share price of €4.44
= -1 x (€4.44 - €17.24) / €17.24
74.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Noble Energy is available for.
Intrinsic value
>50%
Share price is €4.44 vs Future cash flow value of €17.24
Current Discount Checks
For Noble Energy to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Noble Energy's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Noble Energy's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Noble Energy's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Noble Energy's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:NB6 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $-3.16
NasdaqGS:NBL Share Price ** NasdaqGS (2020-03-30) in USD $5.31
Europe Oil and Gas Industry PE Ratio Median Figure of 105 Publicly-Listed Oil and Gas Companies 5.67x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 16.36x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Noble Energy.

DB:NB6 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:NBL Share Price ÷ EPS (both in USD)

= 5.31 ÷ -3.16

-1.68x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Noble Energy is loss making, we can't compare its value to the Europe Oil and Gas industry average.
  • Noble Energy is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Noble Energy's expected growth come at a high price?
Raw Data
DB:NB6 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -1.68x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts
84.6%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 65 Publicly-Listed Oil and Gas Companies 0.17x
Germany Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Noble Energy, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Noble Energy's assets?
Raw Data
DB:NB6 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $17.58
NasdaqGS:NBL Share Price * NasdaqGS (2020-03-30) in USD $5.31
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 0.94x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.43x
DB:NB6 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:NBL Share Price ÷ Book Value per Share (both in USD)

= 5.31 ÷ 17.58

0.3x

* Primary Listing of Noble Energy.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Noble Energy is good value based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess Noble Energy's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Noble Energy has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Noble Energy expected to perform in the next 1 to 3 years based on estimates from 20 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
84.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Noble Energy expected to grow at an attractive rate?
  • Noble Energy's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Noble Energy's earnings growth is expected to exceed the Germany market average.
  • Noble Energy's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:NB6 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:NB6 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts 84.6%
DB:NB6 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 20 Analysts 0.6%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 13%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:NB6 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:NB6 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 3,975 2,718 290 1
2023-12-31 4,622 2,664 433 2
2022-12-31 4,609 2,264 133 4
2021-12-31 4,233 2,128 -284 10
2020-12-31 4,021 1,881 -348 11
2020-03-30
DB:NB6 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 4,387 1,998 -1,512
2019-09-30 4,558 2,089 -1,130
2019-06-30 4,678 2,349 -920
2019-03-31 4,782 2,281 -933
2018-12-31 4,814 2,336 -66
2018-09-30 4,850 2,309 1,252
2018-06-30 4,581 2,153 889
2018-03-31 4,501 1,998 -600
2017-12-31 4,079 1,951 -1,118
2017-09-30 4,033 1,715 -1,864
2017-06-30 3,956 1,788 -1,872
2017-03-31 3,678 1,636 -675

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Noble Energy's earnings are expected to grow significantly at over 20% yearly.
  • Noble Energy's revenue is expected to grow by 0.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:NB6 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below

All data from Noble Energy Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:NB6 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 0.60 1.50 -0.30 2.00
2023-12-31 0.90 1.57 -0.31 3.00
2022-12-31 0.29 1.25 -1.02 5.00
2021-12-31 -0.56 0.70 -1.63 15.00
2020-12-31 -0.74 0.35 -1.86 17.00
2020-03-30
DB:NB6 Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 -3.16
2019-09-30 -2.36
2019-06-30 -1.92
2019-03-31 -1.94
2018-12-31 -0.14
2018-09-30 2.59
2018-06-30 1.83
2018-03-31 -1.24
2017-12-31 -2.38
2017-09-30 -4.09
2017-06-30 -4.24
2017-03-31 -1.57

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Noble Energy is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Noble Energy's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Noble Energy has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Noble Energy performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Noble Energy's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Noble Energy does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Noble Energy's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Noble Energy's 1-year growth to the Europe Oil and Gas industry average as it is not currently profitable.
Earnings and Revenue History
Noble Energy's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Noble Energy Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:NB6 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 4,387.00 -1,512.00 652.00
2019-09-30 4,558.00 -1,130.00 533.00
2019-06-30 4,678.00 -920.00 547.00
2019-03-31 4,782.00 -933.00 540.00
2018-12-31 4,814.00 -66.00 553.00
2018-09-30 4,850.00 1,252.00 628.00
2018-06-30 4,581.00 889.00 588.00
2018-03-31 4,501.00 -600.00 585.00
2017-12-31 4,079.00 -1,118.00 588.00
2017-09-30 4,033.00 -1,864.00 1,048.00
2017-06-30 3,956.00 -1,872.00 1,128.00
2017-03-31 3,678.00 -675.00 1,192.00
2016-12-31 3,491.00 -998.00 1,289.00
2016-09-30 3,240.00 -2,774.00 934.00
2016-06-30 3,140.00 -2,912.00 1,014.00
2016-03-31 3,049.00 -2,706.00 957.00
2015-12-31 3,093.00 -2,441.00 896.00
2015-09-30 3,302.00 -10.00 783.00
2015-06-30 3,747.00 691.00 864.00
2015-03-31 4,353.00 992.00 903.00
2014-12-31 4,945.00 1,214.00 1,001.00
2014-09-30 5,165.00 933.00 1,064.00
2014-06-30 5,278.00 709.00 904.00
2014-03-31 5,053.00 875.00 909.00
2013-12-31 4,809.00 907.00 874.00
2013-09-30 4,649.00 1,063.00 744.00
2013-06-30 4,263.00 1,031.00 754.00
2013-03-31 4,083.00 948.00 816.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Noble Energy has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Noble Energy has efficiently used its assets last year compared to the Europe Oil and Gas industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Noble Energy improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Noble Energy's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Noble Energy has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Noble Energy's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Noble Energy's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Noble Energy's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Noble Energy's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Noble Energy's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Noble Energy Company Filings, last reported 2 months ago.

DB:NB6 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 9,161.00 7,314.00 484.00
2019-09-30 10,186.00 7,288.00 473.00
2019-06-30 10,204.00 6,936.00 470.00
2019-03-31 10,240.00 6,564.00 528.00
2018-12-31 10,484.00 6,392.00 716.00
2018-09-30 11,394.00 6,381.00 885.00
2018-06-30 11,281.00 6,361.00 621.00
2018-03-31 11,387.00 6,655.00 992.00
2017-12-31 10,619.00 6,534.00 675.00
2017-09-30 9,943.00 7,262.00 564.00
2017-06-30 10,098.00 6,890.00 540.00
2017-03-31 9,609.00 6,700.00 787.00
2016-12-31 9,600.00 6,699.00 1,180.00
2016-09-30 9,845.00 7,547.00 1,819.00
2016-06-30 9,713.00 7,547.00 1,300.00
2016-03-31 10,052.00 7,882.00 953.00
2015-12-31 10,370.00 7,626.00 1,028.00
2015-09-30 12,450.00 7,666.00 1,028.00
2015-06-30 11,209.00 5,759.00 1,278.00
2015-03-31 11,357.00 6,113.00 1,709.00
2014-12-31 10,325.00 5,758.00 1,183.00
2014-09-30 9,938.00 5,498.00 1,169.00
2014-06-30 9,554.00 4,866.00 958.00
2014-03-31 9,361.00 4,915.00 1,354.00
2013-12-31 9,184.00 4,766.00 1,117.00
2013-09-30 9,064.00 4,273.00 938.00
2013-06-30 8,875.00 3,800.00 706.00
2013-03-31 8,514.00 3,798.00 1,305.00
  • Noble Energy's level of debt (79.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (55.7% vs 79.8% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Noble Energy has less than a year of cash runway based on current free cash flow.
  • Unable to confirm if Noble Energy has at least 1 year of cash runway based on growing free cash flows without relevant data.
X
Financial health checks
We assess Noble Energy's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Noble Energy has a total score of 0/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Noble Energy's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
9.04%
Current annual income from Noble Energy dividends. Estimated to be 9.28% next year.
If you bought €2,000 of Noble Energy shares you are expected to receive €181 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Noble Energy's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • Noble Energy's dividend is above the markets top 25% of dividend payers in Germany (4.97%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:NB6 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 9.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 1%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:NB6 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 0.48 1.00
2023-12-31 0.48 2.00
2022-12-31 0.50 7.00
2021-12-31 0.50 10.00
2020-12-31 0.49 10.00
2020-03-30
DB:NB6 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-01-27 0.480 4.932
2019-10-22 0.480 2.203
2019-07-23 0.480 2.201
2019-04-22 0.480 2.126
2019-01-29 0.440 1.861
2018-10-23 0.440 1.926
2018-07-24 0.440 1.423
2018-04-23 0.440 1.261
2018-01-30 0.400 1.344
2017-10-24 0.400 1.408
2017-04-24 0.400 1.440
2017-01-24 0.400 1.113
2016-10-25 0.400 1.057
2016-07-26 0.400 1.144
2016-04-25 0.400 1.112
2016-01-26 0.400 1.276
2015-10-20 0.720 2.163
2015-07-21 0.720 2.156
2015-04-27 0.720 1.639
2015-01-27 0.720 1.486
2014-10-21 0.720 1.443
2014-07-22 0.720 1.068
2014-04-21 0.720 0.979
2014-01-28 0.560 0.827
2013-10-22 0.560 0.805
2013-07-23 0.560 0.860
2013-04-22 0.560 0.942
2013-01-28 0.500 0.892
2012-10-23 0.500 1.006
2012-07-24 0.440 0.969
2012-04-23 0.440 1.021
2012-01-24 0.440 0.891
2011-10-25 0.440 0.940
2011-07-26 0.440 1.062
2011-04-25 0.360 0.802
2011-01-25 0.360 0.786
2010-10-26 0.360 0.861
2010-07-27 0.360 0.994
2010-04-26 0.360 1.097
2010-01-26 0.360 0.966
2009-10-27 0.360 1.031
2009-07-28 0.360 1.114
2009-04-27 0.360 1.225

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Noble Energy's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.6x coverage).
X
Income/ dividend checks
We assess Noble Energy's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Noble Energy afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Noble Energy has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Noble Energy's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Dave Stover
COMPENSATION $13,038,313
AGE 61
TENURE AS CEO 5.4 years
CEO Bio

Mr. David L. Stover, also known as Dave, has been the Chairman of Noble Energy, Inc., since April 2015 and has been its Chief Executive Officer since October 21, 2014. He served as President at Noble Energy, Inc. from April 2009 to November 16, 2018. Mr. Stover served as the Chief Operating Officer of Noble Energy from August 1, 2006 to October 2014 and Executive Vice President since August 1, 2006. He previously served as President of Noble Energy since April 2009. He served as Senior Vice President of Domestic & Business Development at Noble Energy, Inc. since July 27, 2004. He joined Noble Energy in 2002 and has served in various other senior leadership capacities, including Senior Vice President of North America. Mr. Stover served as the Vice President of Business Development at Noble Energy since December 16, 2002. Previous to his employment with Noble Energy Inc., he was employed by BP America, Inc., as Vice President, Gulf of Mexico Shelf from September 2000 to August 2002. Prior to joining BP, Mr. Stover was employed by Vastar Resources, Inc. as Area Manager for Gulf of Mexico Shelf from April 1999 to September 2000 and prior thereto, as Area Manager for Oklahoma/Arklatex from January 1994 to April 1999. He also served at ARCO. He has been a Director of Noble Energy, Inc. since April 22, 2014.

CEO Compensation
  • Dave's compensation has increased whilst company is loss making.
  • Dave's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Noble Energy management team in years:

4.9
Average Tenure
57
Average Age
  • The tenure for the Noble Energy management team is about average.
Management Team

Dave Stover

TITLE
Chairman & CEO
COMPENSATION
$13M
AGE
61
TENURE
5.4 yrs

Brent Smolik

TITLE
President & COO
COMPENSATION
$7M
AGE
57
TENURE
1.3 yrs

Ken Fisher

TITLE
Executive VP & CFO
COMPENSATION
$5M
AGE
57
TENURE
10.3 yrs

Rachel Clingman

TITLE
Senior VP
COMPENSATION
$3M
AGE
52
TENURE
1.8 yrs

John Elliott

TITLE
Senior Vice President of Offshore
COMPENSATION
$3M
AGE
61
TENURE
6.9 yrs

Terry Gerhart

TITLE
Senior Vice President of Midstream
AGE
59
TENURE
4.4 yrs

Dustin Hatley

TITLE
VP, Chief Accounting Officer & Controller
AGE
52
TENURE
8 yrs

Christine Michel

TITLE
Senior VP of Human Resources
AGE
55
TENURE
0.7 yrs

Brad Whitmarsh

TITLE
Vice President of Investor Relations

Ben Dillon

TITLE
Vice President of Communications & Government Relations
Board of Directors Tenure

Average tenure and age of the Noble Energy board of directors in years:

4.8
Average Tenure
63
Average Age
  • The tenure for the Noble Energy board of directors is about average.
Board of Directors

Dave Stover

TITLE
Chairman & CEO
COMPENSATION
$13M
AGE
61
TENURE
4.9 yrs

Jeffrey Berenson

TITLE
Independent Director
COMPENSATION
$335K
AGE
68
TENURE
14.8 yrs

William Van Kleef

TITLE
Independent Director
COMPENSATION
$350K
AGE
67
TENURE
14.3 yrs

Scott Urban

TITLE
Lead Independent Director
COMPENSATION
$363K
AGE
65
TENURE
0.9 yrs

MIke Cawley

TITLE
Former Lead Independent Director
COMPENSATION
$336K
AGE
71
TENURE
25.2 yrs

Thomas Edelman

TITLE
Independent Director
COMPENSATION
$332K
AGE
68
TENURE
14.8 yrs

Jim Craddock

TITLE
Independent Director
COMPENSATION
$347K
AGE
60
TENURE
4.7 yrs

Holli Ladhani

TITLE
Independent Director
COMPENSATION
$311K
AGE
48
TENURE
2.4 yrs

Barbara Duganier

TITLE
Independent Director
COMPENSATION
$325K
AGE
60
TENURE
1.8 yrs

Martha Wyrsch

TITLE
Independent Director
COMPENSATION
$217K
AGE
61
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Noble Energy individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
23. Mar 20 Buy David Stover Individual 20. Mar 20 20. Mar 20 36,000 €3.89 €140,023
23. Mar 20 Buy Brent Smolik Individual 20. Mar 20 20. Mar 20 38,000 €3.69 €140,101
19. Mar 20 Buy John Elliott Individual 18. Mar 20 18. Mar 20 5,500 €2.81 €15,457
19. Mar 20 Buy Rachel Clingman Individual 18. Mar 20 18. Mar 20 17,793 €2.59 €46,143
03. Mar 20 Buy Brent Smolik Individual 03. Mar 20 03. Mar 20 9,850 €13.71 €135,025
04. Dec 19 Buy David Stover Individual 04. Dec 19 04. Dec 19 12,000 €18.87 €226,428
03. Dec 19 Buy Scott Urban Individual 03. Dec 19 03. Dec 19 15,000 €18.37 €275,598
X
Management checks
We assess Noble Energy's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Noble Energy has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Noble Energy, Inc., an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and natural gas worldwide. The company also owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins. Its assets are located in the US onshore unconventional basins and various global offshore conventional basins in the Eastern Mediterranean and off the west coast of Africa. As of December 31, 2019, the company had 2,050 million barrels oil equivalent of total proved reserves. Noble Energy, Inc. was founded in 1932 and is headquartered in Houston, Texas.

Details
Name: Noble Energy, Inc.
NB6
Exchange: DB
Founded: 1932
$2,292,149,629
478,619,134
Website: http://www.nblenergy.com
Address: Noble Energy, Inc.
1001 Noble Energy Way,
Houston,
Texas, 77070,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS NBL Common Stock Nasdaq Global Select US USD 14. Dec 1972
DB NB6 Common Stock Deutsche Boerse AG DE EUR 14. Dec 1972
LSE 0K8E Common Stock London Stock Exchange GB USD 14. Dec 1972
BMV NBL * Common Stock Bolsa Mexicana de Valores MX MXN 14. Dec 1972
BOVESPA N1BL34 BDR EACH REPR 1 COM Bolsa de Valores de Sao Paulo BR BRL 30. Dec 2019
Number of employees
Current staff
Staff numbers
2,282
Noble Energy employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/30 22:37
End of day share price update: 2020/03/30 00:00
Last estimates confirmation: 2020/03/27
Last earnings filing: 2020/02/12
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.