NEW YORK (TheStreet) -- When Noble Energy (NBL - Get Report) reports its 2016 first quarter financial results before tomorrow's market open, analysts will be looking for a year-over-year decline in profits but an increase in sales.
Shares are slumping 3.38% to $35.21 Tuesday afternoon.
Wall Street is expecting the company to post a loss of 57 cents a share on revenue of $784.48 million. A year ago, the company earned 3 cents a share on revenue of $759 million.
Overall, oil and natural gas companies have been grappling with lower commodity prices. As a result, Noble Energy has been aggressively trimming capital expenditures.
Putting pressure on shares today were sliding oil futures on renewed supply glut concerns.
Crude oil (WTI) is down 2.37% to $43.72 per barrel and Brent crude is lower 1.68% to $45.06 per barrel.
Separately, TheStreet Ratings currently has a "Sell" rating on the stock with a letter grade of D.
The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, poor profit margins, weak operating cash flow and generally disappointing historical performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.
You can view the full analysis from the report here: NBL