An issue of Noble Corporation (NYSE:NE) bonds fell 2% against their face value during trading on Wednesday. The debt issue has a 7.75% coupon and is set to mature on January 15, 2024. The bonds in the issue are now trading at $86.50 and were trading at $90.75 last week. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its stock price.
Several brokerages recently issued reports on NE. Royal Bank Of Canada set a $5.00 price objective on shares of Noble Corporation and gave the company a “hold” rating in a report on Sunday, November 12th. UBS AG raised shares of Noble Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $4.00 to $6.00 in a report on Monday, September 25th. Zacks Investment Research raised shares of Noble Corporation from a “hold” rating to a “buy” rating and set a $4.50 price objective on the stock in a report on Wednesday, October 18th. Deutsche Bank AG began coverage on shares of Noble Corporation in a report on Tuesday, October 10th. They set a “hold” rating and a $4.00 price objective on the stock. Finally, ValuEngine lowered shares of Noble Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Six investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have given a buy rating to the company. Noble Corporation presently has a consensus rating of “Hold” and an average price target of $5.56.
Noble Corporation (NYSE NE) traded down $0.07 during midday trading on Friday, reaching $4.10. 9,078,600 shares of the company were exchanged, compared to its average volume of 10,385,290. Noble Corporation has a 52 week low of $3.14 and a 52 week high of $8.37. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.58 and a quick ratio of 1.58.
Noble Corporation (NYSE:NE) last posted its earnings results on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.36). The company had revenue of $266.20 million during the quarter, compared to the consensus estimate of $269.61 million. Noble Corporation had a negative net margin of 136.22% and a negative return on equity of 3.94%. The firm’s quarterly revenue was down 30.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.23) earnings per share. equities analysts predict that Noble Corporation will post -1.17 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Amalgamated Bank lifted its position in Noble Corporation by 3.1% during the first quarter. Amalgamated Bank now owns 38,373 shares of the oil and gas company’s stock valued at $238,000 after purchasing an additional 1,140 shares during the period. Wright Investors Service Inc. lifted its position in Noble Corporation by 3.9% during the second quarter. Wright Investors Service Inc. now owns 38,115 shares of the oil and gas company’s stock valued at $138,000 after purchasing an additional 1,440 shares during the period. Texas Permanent School Fund lifted its position in Noble Corporation by 0.8% during the second quarter. Texas Permanent School Fund now owns 178,646 shares of the oil and gas company’s stock valued at $647,000 after purchasing an additional 1,498 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Noble Corporation by 1.8% during the second quarter. Oregon Public Employees Retirement Fund now owns 86,884 shares of the oil and gas company’s stock valued at $315,000 after purchasing an additional 1,500 shares during the period. Finally, Capstone Asset Management Co. lifted its position in Noble Corporation by 6.9% during the second quarter. Capstone Asset Management Co. now owns 61,720 shares of the oil and gas company’s stock valued at $223,000 after purchasing an additional 3,960 shares during the period. Institutional investors own 94.07% 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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