SG Capital Management LLC Buys Shares of 2,107,843 Noble Corporation (NYSE:NE)

SG Capital Management LLC bought a new position in shares of Noble Corporation (NYSE:NE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,107,843 shares of the oil and gas company’s stock, valued at approximately $9,696,000. Noble makes up about 1.0% of SG Capital Management LLC’s portfolio, making the stock its 16th biggest position. SG Capital Management LLC owned 0.86% of Noble at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Legal & General Group Plc boosted its holdings in Noble by 16.8% in the third quarter. Legal & General Group Plc now owns 1,414,888 shares of the oil and gas company’s stock valued at $6,504,000 after acquiring an additional 203,978 shares during the last quarter. LMR Partners LLP bought a new position in shares of Noble during the 3rd quarter worth approximately $268,000. Van ECK Associates Corp boosted its holdings in shares of Noble by 6.1% during the 3rd quarter. Van ECK Associates Corp now owns 3,335,521 shares of the oil and gas company’s stock worth $15,343,000 after buying an additional 192,648 shares in the last quarter. Contrarius Investment Management Ltd boosted its holdings in shares of Noble by 21.7% during the 3rd quarter. Contrarius Investment Management Ltd now owns 6,631,412 shares of the oil and gas company’s stock worth $30,504,000 after buying an additional 1,184,494 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Noble by 2.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,343,163 shares of the oil and gas company’s stock worth $6,179,000 after buying an additional 27,127 shares in the last quarter. 87.10% of the stock is owned by hedge funds and other institutional investors.

NE has been the topic of a number of research analyst reports. ValuEngine upgraded Noble from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Royal Bank Of Canada set a $5.00 target price on Noble and gave the stock a “hold” rating in a research report on Sunday, November 12th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $2.85 target price on shares of Noble in a research report on Sunday, October 22nd. Deutsche Bank initiated coverage on Noble in a research report on Tuesday, October 10th. They set a “hold” rating and a $4.00 target price on the stock. Finally, initiated coverage on Noble in a research report on Thursday, October 19th. They set a “buy” rating and a $5.30 target price on the stock. Six investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $5.56.

Shares of Noble Corporation (NE) remained flat at $$4.50 during trading on Wednesday. 5,245,200 shares of the company’s stock traded hands, compared to its average volume of 10,241,700. Noble Corporation has a twelve month low of $3.14 and a twelve month high of $8.37. 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 (NYSE:NE) last announced its earnings results on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.36). Noble had a negative return on equity of 3.94% and a negative net margin of 136.22%. The firm had revenue of $266.20 million during the quarter, compared to analyst estimates of $269.61 million. During the same period last year, the firm posted ($0.23) EPS. The business’s revenue was down 30.9% compared to the same quarter last year. sell-side analysts predict that Noble Corporation will post -1.17 earnings per share for the current year.

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Noble 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.

Institutional Ownership by Quarter for Noble (NYSE:NE)

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