Noble Corporation (NE) PT Set at $4.00 by Piper Jaffray Companies
Noble Corporation (NYSE:NE) has been assigned a $4.00 price objective by stock analysts at Piper Jaffray Companies in a research report issued on Monday. The brokerage presently has a “hold” rating on the oil and gas company’s stock. Piper Jaffray Companies’ price target points to a potential upside of 11.73% from the company’s current price.
A number of other analysts also recently weighed in on the stock. Societe Generale downgraded shares of Noble Corporation from a “buy” rating to a “hold” rating in a research report on Monday. ValuEngine downgraded shares of Noble Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reissued a “sell” rating and set a $5.00 target price on shares of Noble Corporation in a research report on Thursday, July 20th. Jefferies Group LLC reissued a “buy” rating and set a $5.50 target price (down previously from $7.00) on shares of Noble Corporation in a research report on Tuesday, July 18th. Finally, Sanford C. Bernstein downgraded shares of Noble Corporation from a “market perform” rating to an “underperform” rating and decreased their target price for the company from $7.00 to $2.50 in a research report on Thursday, July 6th. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Noble Corporation currently has a consensus rating of “Hold” and a consensus target price of $6.10.
Noble Corporation (NYSE:NE) traded down 7.73% on Monday, reaching $3.58. 7,527,096 shares of the company traded hands. Noble Corporation has a one year low of $3.32 and a one year high of $8.37. The stock’s market capitalization is $875.97 million. The firm has a 50 day moving average of $3.85 and a 200-day moving average of $5.29.
Noble Corporation (NYSE:NE) last released its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.02. The business had revenue of $278.10 million during the quarter, compared to the consensus estimate of $284.99 million. Noble Corporation had a negative net margin of 122.04% and a negative return on equity of 3.19%. The company’s revenue for the quarter was down 68.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 EPS. On average, analysts anticipate that Noble Corporation will post ($1.24) EPS for the current year.
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Institutional investors have recently modified their holdings of the stock. Creative Planning bought a new position in shares of Noble Corporation during the fourth quarter valued at $0. LS Investment Advisors LLC boosted its position in shares of Noble Corporation by 5.6% in the third quarter. LS Investment Advisors LLC now owns 15,695 shares of the oil and gas company’s stock valued at $100,000 after buying an additional 834 shares during the period. Global Endowment Management LP bought a new position in shares of Noble Corporation during the third quarter valued at $100,000. Acadian Asset Management LLC boosted its position in shares of Noble Corporation by 1,343.9% in the third quarter. Acadian Asset Management LLC now owns 16,114 shares of the oil and gas company’s stock valued at $102,000 after buying an additional 14,998 shares during the period. Finally, Advisor Group Inc. boosted its position in shares of Noble Corporation by 112.7% in the third quarter. Advisor Group Inc. now owns 15,989 shares of the oil and gas company’s stock valued at $102,000 after buying an additional 8,472 shares during the period. Institutional investors and hedge funds own 98.66% 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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