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A number of stock research firms have changed their ratings and price targets for Noble Corp (NYSE: NE) during the last seven days:

  • Noble Corp was upgraded by analysts at DNB Markets from a “sell” rating to a “hold” rating.
  • Noble Corp was downgraded by analysts at Nordea Equity Research from a “hold” rating to a “sell” rating. They now have a $33.00 price target on the stock, down previously from $39.00.
  • Noble Corp was downgraded by analysts at Wells Fargo & Co. from an “outperform” rating to a “market perform” rating.
  • Noble Corp had its price target lowered by analysts at Wunderlich from $49.00 to $41.00. They now have a “buy” rating on the stock.
  • Noble Corp had its price target lowered by analysts at RBC Capital from $40.00 to $36.00.
  • Noble Corp had its price target lowered by analysts at Jefferies Group from $41.00 to $38.00. They now have a “hold” rating on the stock.
  • Noble Corp had its price target lowered by analysts at Guggenheim from $48.00 to $42.00. They now have a “buy” rating on the stock.
  • Noble Corp had its price target lowered by analysts at Cowen and Company from $49.00 to $44.00. They now have an “outperform” rating on the stock.
  • Noble Corp had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $34.00 price target on the stock. Zacks‘ analyst wrote, “We are maintaining our Neutral recommendation on global offshore driller Noble Corp. following its fourth quarter 2013 results. The company posted lower-than-expected earnings but showed a sequential increase fueled by solid demand for its wide range of rigs and vessels. The highlights of the quarter include improvement in business fundamentals (as utilization and tendering activity improved for both jackups and deepwater units) and the return of several rigs to active status. Furthermore, the anticipation of better bidding activity might help the company find a better growth route. However, we think these factors are adequately reflected in the present valuation, leaving little room for meaningful upside from the current level.”
  • Noble Corp was downgraded by analysts at Simmons from an “overweight” rating to a “neutral” rating.

Noble Corp (NYSE:NE) traded down 1.93% during mid-day trading on Friday, hitting $31.03. 6,645,659 shares of the company’s stock traded hands. Noble Corp has a 1-year low of $30.99 and a 1-year high of $42.34. The stock has a 50-day moving average of $35.49 and a 200-day moving average of $37.84. The company has a market cap of $7.864 billion and a P/E ratio of 10.37. Noble Corp also saw some unusual options trading activity on Tuesday. Investors purchased 14,543 call options on the company. This represents an increase of approximately 175% compared to the average daily volume of 5,283 call options.

Noble Corporation is an offshore drilling contractor for the oil and gas industry. The Company performs contract drilling services with its fleet of 79 mobile offshore drilling units and one floating production storage and offloading unit (Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.