Noble Co. (NE) Receives Average Rating of “Hold” from Brokerages
Shares of Noble Co. (NYSE:NE) have been given an average rating of “Hold” by the thirty-one research firms that are covering the firm. Five investment analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $7.10.
NE has been the topic of a number of research reports. TheStreet downgraded Noble from a “c-” rating to a “d” rating in a report on Tuesday, February 14th. Credit Suisse Group AG restated an “outperform” rating and issued a $10.00 price objective (up from $7.00) on shares of Noble in a report on Friday, February 3rd. Jefferies Group LLC upgraded Noble from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Monday, January 30th. They noted that the move was a valuation call. Piper Jaffray Companies upgraded Noble from an “underweight” rating to a “neutral” rating and set a $7.00 price objective on the stock in a report on Wednesday, January 25th. Finally, Tudor Pickering initiated coverage on Noble in a report on Thursday, March 23rd. They issued a “hold” rating on the stock.
Large investors have recently modified their holdings of the stock. Achmea Investment Management B.V. acquired a new stake in shares of Noble during the first quarter worth $433,000. Kovitz Investment Group Partners LLC raised its position in shares of Noble by 17.5% in the first quarter. Kovitz Investment Group Partners LLC now owns 156,037 shares of the oil and gas company’s stock valued at $966,000 after buying an additional 23,247 shares during the last quarter. HighTower Advisors LLC purchased a new position in shares of Noble during the first quarter valued at approximately $139,000. Credit Suisse AG raised its position in shares of Noble by 326.2% in the first quarter. Credit Suisse AG now owns 915,197 shares of the oil and gas company’s stock valued at $5,666,000 after buying an additional 700,438 shares during the last quarter. Finally, Tudor Investment Corp ET AL raised its position in shares of Noble by 126.1% in the first quarter. Tudor Investment Corp ET AL now owns 30,300 shares of the oil and gas company’s stock valued at $188,000 after buying an additional 16,900 shares during the last quarter. Hedge funds and other institutional investors own 91.66% of the company’s stock.
Shares of Noble (NYSE:NE) traded up 0.4370% during mid-day trading on Tuesday, reaching $4.6201. 7,606,813 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $5.13 and a 200 day moving average price of $6.10. Noble has a 52 week low of $4.16 and a 52 week high of $9.73. The stock’s market cap is $1.13 billion.
Noble (NYSE:NE) last issued its quarterly earnings results on Thursday, May 4th. The oil and gas company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. The business had revenue of $363 million during the quarter, compared to analyst estimates of $368.25 million. During the same period in the previous year, the business posted $0.31 earnings per share. The firm’s quarterly revenue was down 40.7% on a year-over-year basis. Equities research analysts predict that Noble will post ($1.25) EPS for the current year.
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.
Receive News & Ratings for Noble Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noble Co. and related companies with MarketBeat.com's FREE daily email newsletter.