Noble Corp. (NE) Trading Up 4.3%
Noble Corp. (NYSE:NE) was up 4.3% on Wednesday . The company traded as high as $5.46 and last traded at $5.34, with a volume of 9,045,296 shares trading hands. The stock had previously closed at $5.12.
A number of research analysts have commented on NE shares. Credit Suisse Group AG restated a “buy” rating and issued a $10.00 price objective on shares of Noble Corp. in a research note on Thursday, September 1st. Vetr upgraded shares of Noble Corp. from a “hold” rating to a “buy” rating and set a $9.76 price objective on the stock in a research note on Monday, June 13th. Evercore ISI restated a “buy” rating on shares of Noble Corp. in a research note on Saturday, July 2nd. Jefferies Group dropped their price objective on shares of Noble Corp. from $8.00 to $7.50 and set a “hold” rating on the stock in a research note on Friday, July 29th. Finally, Zacks Investment Research upgraded shares of Noble Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 19th. Seven equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have given a buy rating to the stock. Noble Corp. presently has a consensus rating of “Hold” and an average target price of $8.88.
The firm has a market capitalization of $1.31 billion, a P/E ratio of 2.246 and a beta of 2.05. The stock has a 50 day moving average of $6.18 and a 200-day moving average of $8.66.
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Noble Corp. (NYSE:NE) last announced its earnings results on Wednesday, July 27th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.23 by $0.22. Noble Corp. had a return on equity of 5.22% and a net margin of 18.34%. The firm earned $894.70 million during the quarter, compared to analyst estimates of $527.48 million. During the same quarter in the previous year, the business earned $0.64 earnings per share. The business’s quarterly revenue was down 37.2% compared to the same quarter last year. On average, equities research analysts forecast that Noble Corp. will post ($0.07) EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in Noble Corp. by 56.4% in the second quarter. Dimensional Fund Advisors LP now owns 10,805,125 shares of the company’s stock valued at $89,037,000 after buying an additional 3,897,284 shares in the last quarter. Vanguard Group Inc. boosted its stake in Noble Corp. by 6.9% in the second quarter. Vanguard Group Inc. now owns 30,239,221 shares of the company’s stock valued at $249,170,000 after buying an additional 1,947,799 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Noble Corp. by 26.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 9,202,846 shares of the company’s stock valued at $75,831,000 after buying an additional 1,928,876 shares in the last quarter. Marshall Wace LLP boosted its stake in Noble Corp. by 141.3% in the second quarter. Marshall Wace LLP now owns 2,088,065 shares of the company’s stock valued at $17,206,000 after buying an additional 1,222,798 shares in the last quarter. Finally, Winton Capital Group Ltd bought a new stake in Noble Corp. during the second quarter valued at approximately $9,242,000. Institutional investors and hedge funds own 90.26% of the company’s stock.
About Noble Corp.
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 (NYSE:NE) located globally.
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