Noble Corporation (NYSE:NE) Earns “Sell” Rating from Royal Bank Of Canada
Noble Corporation (NYSE:NE)‘s stock had its “sell” rating restated by equities research analysts at Royal Bank Of Canada in a research note issued to investors on Thursday. They currently have a $5.00 target price on the oil and gas company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 21.36% from the company’s current price.
Several other brokerages have also recently commented on NE. Jefferies Group LLC set a $7.00 target price on shares of Noble Corporation and gave the company a “buy” rating in a research report on Saturday, July 1st. Deutsche Bank AG dropped their target price on shares of Noble Corporation from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Tuesday, April 18th. Sanford C. Bernstein cut shares of Noble Corporation from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $7.00 to $2.50 in a research report on Thursday, July 6th. Scotiabank reiterated a “hold” rating and set a $8.00 target price on shares of Noble Corporation in a research report on Wednesday, March 22nd. Finally, Tudor Pickering started coverage on shares of Noble Corporation in a research report on Thursday, March 23rd. They set a “hold” rating for the company. Seven analysts have rated the stock with a sell rating, sixteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $6.23.
Shares of Noble Corporation (NYSE:NE) traded down 3.51% during trading on Thursday, hitting $4.12. The stock had a trading volume of 9,175,585 shares. The stock’s market capitalization is $1.01 billion. The stock’s 50 day moving average is $3.84 and its 200 day moving average is $5.49. Noble Corporation has a 52 week low of $3.32 and a 52 week high of $8.37.
Noble Corporation (NYSE:NE) last posted its quarterly earnings data on Thursday, May 4th. The oil and gas company reported ($0.17) earnings per share 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 during the quarter, compared to analysts’ expectations of $368.25 million. During the same quarter in the previous year, the company posted $0.31 EPS. Noble Corporation’s revenue was down 40.7% on a year-over-year basis. On average, equities research analysts expect that Noble Corporation will post ($1.22) earnings per share for the current fiscal year.
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Several institutional investors have recently bought and sold shares of NE. Sippican Capital Advisors increased its position in Noble Corporation by 16.0% in the first quarter. Sippican Capital Advisors now owns 222,231 shares of the oil and gas company’s stock worth $1,376,000 after buying an additional 30,727 shares in the last quarter. Nationwide Fund Advisors increased its position in Noble Corporation by 4.6% in the first quarter. Nationwide Fund Advisors now owns 457,445 shares of the oil and gas company’s stock worth $2,832,000 after buying an additional 20,231 shares in the last quarter. Retirement Systems of Alabama increased its position in Noble Corporation by 0.6% in the first quarter. Retirement Systems of Alabama now owns 315,881 shares of the oil and gas company’s stock worth $1,955,000 after buying an additional 1,781 shares in the last quarter. Hartford Investment Management Co. acquired a new position in Noble Corporation during the first quarter worth approximately $167,000. Finally, Louisiana State Employees Retirement System increased its position in Noble Corporation by 2.8% in the first quarter. Louisiana State Employees Retirement System now owns 61,800 shares of the oil and gas company’s stock worth $383,000 after buying an additional 1,700 shares in the last quarter. Institutional investors own 98.61% of the company’s stock.
Noble Corporation Company Profile
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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