Noble Corporation (NYSE:NE) was the recipient of unusually large options trading on Wednesday. Traders acquired 176 call options on the company. This represents an increase of approximately 155% compared to the average volume of 69 call options.

Shares of Noble Corporation (NYSE:NE) opened at 3.39 on Friday. Noble Corporation has a one year low of $3.35 and a one year high of $8.98. The stock’s market capitalization is $829.48 million. The stock’s 50 day moving average is $4.09 and its 200-day moving average is $5.75.

Noble Corporation (NYSE:NE) last announced its quarterly earnings data on Thursday, May 4th. The oil and gas company reported ($0.17) earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $363 million for the quarter, compared to analyst estimates of $368.25 million. During the same period last year, the business earned $0.31 EPS. The company’s revenue was down 40.7% on a year-over-year basis. On average, equities research analysts predict that Noble Corporation will post ($1.22) EPS for the current fiscal year.

Several large investors have recently made changes to their positions in NE. World Asset Management Inc raised its stake in shares of 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 during the last quarter. Advantus Capital Management Inc increased its position 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 during the period. Amalgamated Bank increased its position 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 during the period. Oregon Public Employees Retirement Fund increased 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 period. Finally, State Treasurer State of Michigan increased 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 period. Institutional investors and hedge funds own 99.03% of the company’s stock.

NE has been the topic of several recent research reports. Nomura upgraded Noble Corporation from a “reduce” rating to a “neutral” rating and set a $5.00 price target on the stock in a research note on Thursday, May 18th. Seaport Global Securities cut Noble Corporation from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $5.00 to $3.50 in a research report on Wednesday, June 21st. Instinet raised Noble Corporation from a “reduce” rating to a “neutral” rating and upped their price objective for the company from $4.35 to $5.00 in a research report on Thursday, May 18th. Credit Suisse Group reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Noble Corporation in a research report on Friday, April 21st. Finally, Sanford C. Bernstein cut Noble Corporation from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $7.00 to $2.50 in a research report on Thursday. Seven equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $6.32.

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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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