Pinebridge Investments L.P. raised its holdings in shares of Noble Corporation (NYSE:NE) by 679.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 251,146 shares of the oil and gas company’s stock after purchasing an additional 218,908 shares during the period. Pinebridge Investments L.P. owned 0.10% of Noble worth $1,156,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Noble by 37.6% in the 2nd quarter. BlackRock Inc. now owns 32,390,455 shares of the oil and gas company’s stock valued at $117,253,000 after acquiring an additional 8,843,373 shares during the period. Vanguard Group Inc. raised its holdings in Noble by 16.7% during 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 buying an additional 3,371,015 shares during the period. State Street Corp raised its holdings in Noble by 31.7% during 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 buying an additional 5,405,697 shares during the period. Contrarius Investment Management Ltd raised its holdings in 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 during the period. Finally, Bank of New York Mellon Corp raised its holdings in Noble by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,645,549 shares of the oil and gas company’s stock worth $20,437,000 after buying an additional 145,172 shares during the period. Institutional investors own 87.10% of the company’s stock.
Shares of Noble Corporation (NYSE:NE) opened at $4.10 on Friday. Noble Corporation has a 1 year low of $3.14 and a 1 year high of $8.37. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.64.
Noble (NYSE:NE) last announced its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.36). The business had revenue of $266.20 million during the quarter, compared to analysts’ expectations of $269.61 million. Noble had a negative return on equity of 3.94% and a negative net margin of 136.22%. The firm’s quarterly revenue was down 30.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.23) earnings per share. equities research analysts anticipate that Noble Corporation will post -1.17 EPS for the current year.
Several analysts have commented on the stock. Argus restated a “sell” rating and set a $6.00 target price on shares of Noble in a report on Friday, August 18th. ValuEngine upgraded shares of Noble from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Cowen reaffirmed a “hold” rating and set a $3.00 price target on shares of Noble in a research note on Tuesday, September 5th. began coverage on shares of Noble in a research note on Thursday, October 19th. They set a “buy” rating and a $5.30 price target for the company. Finally, UBS raised shares of Noble from a “neutral” rating to a “buy” rating and raised their target price for the company from $4.00 to $6.00 in a research note on Monday, September 25th. Six research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $5.56.
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Noble 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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