Noble Corporation (NYSE:NE) has received a consensus recommendation of “Hold” from the thirty-one analysts that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $6.96.

A number of brokerages recently commented on NE. Citigroup Inc. lowered Noble Corporation from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $11.00 to $4.70 in a research note on Friday. Jefferies Group LLC set a $7.00 price target on Noble Corporation and gave the stock a “buy” rating in a research note on Wednesday, May 24th. Instinet raised Noble Corporation from a “reduce” rating to a “neutral” rating and raised their price target for the stock from $4.35 to $5.00 in a research note on Thursday, May 18th. Nomura raised Noble Corporation from a “reduce” rating to a “neutral” rating and set a $5.00 price target for the company in a research note on Thursday, May 18th. Finally, Deutsche Bank AG raised their price target on Noble Corporation from $6.00 to $7.00 and gave the stock a “hold” rating in a research note on Monday, May 8th.

Noble Corporation (NYSE:NE) traded up 0.80% on Monday, hitting $3.79. 5,488,866 shares of the company were exchanged. The stock has a 50 day moving average of $4.33 and a 200 day moving average of $5.93. The company’s market capitalization is $927.36 million. Noble Corporation has a 52 week low of $3.65 and a 52 week high of $9.68.

Noble Corporation (NYSE:NE) last issued its earnings results on Thursday, May 4th. The oil and gas company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.02. Noble Corporation had a negative net margin of 65.11% and a negative return on equity of 1.69%. The firm had revenue of $363 million for the quarter, compared to analysts’ expectations of $368.25 million. During the same quarter last year, the business earned $0.31 earnings per share. The business’s revenue was down 40.7% on a year-over-year basis. Analysts predict that Noble Corporation will post ($1.20) EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. World Asset Management Inc increased its stake in Noble Corporation by 1.4% in the first quarter. World Asset Management Inc now owns 21,981 shares of the oil and gas company’s stock worth $136,000 after buying an additional 295 shares in the last quarter. Advantus Capital Management Inc increased its stake in Noble Corporation by 3.6% in the first quarter. Advantus Capital Management Inc now owns 31,328 shares of the oil and gas company’s stock worth $194,000 after buying an additional 1,098 shares in the last quarter. Amalgamated Bank increased its stake in Noble Corporation by 3.1% in the first quarter. Amalgamated Bank now owns 38,373 shares of the oil and gas company’s stock worth $238,000 after buying an additional 1,140 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in Noble Corporation by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 85,384 shares of the oil and gas company’s stock worth $529,000 after buying an additional 1,200 shares during the last quarter. Finally, State Treasurer State of Michigan boosted its position in Noble Corporation by 1.5% in the first quarter. State Treasurer State of Michigan now owns 99,400 shares of the oil and gas company’s stock worth $615,000 after buying an additional 1,500 shares during the last quarter. Institutional investors own 99.02% of the company’s stock.

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About Noble Corporation

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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