Other analysts also recently issued reports about the company. Jefferies Group LLC reissued a buy rating and issued a $5.50 target price (down from $7.00) on shares of Noble Corporation in a research report on Tuesday, July 18th. UBS AG raised Noble Corporation from a neutral rating to a buy rating and raised their target price for the stock from $4.00 to $6.00 in a research report on Monday, September 25th. began coverage on Noble Corporation in a research report on Thursday, October 19th. They issued a buy rating and a $5.30 target price for the company. Zacks Investment Research upgraded Noble Corporation from a hold rating to a buy rating and set a $4.50 price target for the company in a research report on Wednesday, October 18th. Finally, Deutsche Bank AG began coverage on Noble Corporation in a research report on Tuesday, October 10th. They issued a hold rating and a $4.00 price target for the company. Six analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $5.56.
Shares of Noble Corporation (NYSE:NE) opened at $4.17 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.58 and a current ratio of 1.58. Noble Corporation has a 52-week low of $3.14 and a 52-week high of $8.37.
Noble Corporation (NYSE:NE) last released its earnings results on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.36). Noble Corporation had a negative return on equity of 3.94% and a negative net margin of 136.22%. The business had revenue of $266.20 million during the quarter, compared to the consensus estimate of $269.61 million. During the same period last year, the business posted ($0.23) earnings per share. The business’s revenue for the quarter was down 30.9% on a year-over-year basis. research analysts predict that Noble Corporation will post -1.17 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of NE. BlackRock Inc. boosted its position in shares of Noble Corporation by 13,598.2% in the 1st quarter. BlackRock Inc. now owns 23,547,082 shares of the oil and gas company’s stock worth $145,756,000 after purchasing an additional 23,375,183 shares in the last quarter. State Street Corp boosted its position in shares of Noble Corporation by 31.7% in the 2nd quarter. State Street Corp now owns 22,444,196 shares of the oil and gas company’s stock worth $81,248,000 after purchasing an additional 5,405,697 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Noble Corporation by 16.7% in the 2nd quarter. Vanguard Group Inc. now owns 23,523,527 shares of the oil and gas company’s stock worth $85,155,000 after purchasing an additional 3,371,015 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Noble Corporation by 6,249.0% in the 2nd quarter. Marshall Wace LLP now owns 2,377,944 shares of the oil and gas company’s stock worth $9,512,000 after purchasing an additional 2,340,490 shares in the last quarter. Finally, SG Capital Management LLC bought a new position in Noble Corporation in the 3rd quarter valued at approximately $9,696,000. 94.07% of the stock is currently owned by hedge funds and other institutional investors.
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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