Noble Corporation (NE) Position Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in Noble Corporation (NYSE:NE) by 7.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,218,536 shares of the oil and gas company’s stock after selling 427,013 shares during the period. Bank of New York Mellon Corp owned approximately 2.13% of Noble worth $24,005,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Northern Trust Corp boosted its stake in Noble by 33.8% during the 2nd quarter. Northern Trust Corp now owns 3,337,639 shares of the oil and gas company’s stock worth $12,082,000 after purchasing an additional 843,007 shares during the period. State Street Corp boosted its stake 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 purchasing an additional 5,405,697 shares during the period. River & Mercantile Asset Management LLP boosted its stake in Noble by 15.0% during the 2nd quarter. River & Mercantile Asset Management LLP now owns 1,132,617 shares of the oil and gas company’s stock worth $4,094,000 after purchasing an additional 147,797 shares during the period. SG Americas Securities LLC boosted its stake in Noble by 112.0% during the 2nd quarter. SG Americas Securities LLC now owns 330,546 shares of the oil and gas company’s stock worth $1,197,000 after purchasing an additional 174,656 shares during the period. Finally, Vanguard Group Inc. boosted its stake 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 purchasing an additional 3,371,015 shares during the period. 87.10% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Noble Corporation (NYSE NE) traded down $0.16 during midday trading on Thursday, hitting $4.09. 4,481,200 shares of the company traded hands, compared to its average volume of 10,106,447. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.64. Noble Corporation has a 12-month low of $3.14 and a 12-month high of $7.80.

Noble (NYSE:NE) last announced its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported ($0.36) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.36). Noble had a negative net margin of 136.22% and a negative return on equity of 3.94%. The firm had revenue of $266.20 million during the quarter, compared to analysts’ expectations of $269.61 million. During the same quarter last year, the business earned ($0.23) earnings per share. The business’s revenue for the quarter was down 30.9% compared to the same quarter last year. research analysts anticipate that Noble Corporation will post -1.17 EPS for the current fiscal year.

NE has been the subject of a number of recent research reports. Piper Jaffray Companies reiterated a “hold” rating and set a $2.85 price target on shares of Noble in a research note on Sunday, October 22nd. Deutsche Bank initiated coverage on shares of Noble in a research note on Tuesday, October 10th. They set a “hold” rating and a $4.00 price target for the company. Royal Bank of Canada set a $5.00 price target on shares of Noble and gave the stock a “hold” rating in a research note on Saturday, October 7th. Cowen set a $3.00 price target on shares of Noble and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Finally, ValuEngine cut shares of Noble from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. Six equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus 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.

Institutional Ownership by Quarter for Noble (NYSE:NE)

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