Susquehanna Bancshares Reiterates $5.00 Price Target for Noble (NE)

Susquehanna Bancshares set a $5.00 target price on Noble (NYSE:NE) in a research report released on Friday. The firm currently has a hold rating on the oil and gas company’s stock.

Several other analysts also recently weighed in on NE. initiated coverage on Noble in a report on Thursday, October 19th. They issued a buy rating and a $5.30 price objective for the company. Piper Jaffray Companies reiterated a hold rating and issued a $2.85 target price on shares of Noble in a report on Sunday, October 22nd. Zacks Investment Research downgraded shares of Noble from a buy rating to a hold rating in a report on Monday, October 23rd. Royal Bank of Canada set a $5.00 target price on shares of Noble and gave the stock a hold rating in a report on Sunday, November 12th. Finally, ValuEngine downgraded shares of Noble from a sell rating to a strong sell rating in a report on Friday, December 1st. Eight analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. Noble presently has a consensus rating of Hold and an average price target of $4.97.

Shares of Noble (NYSE:NE) opened at $4.10 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $1,000.00, a PE ratio of -0.56 and a beta of 2.22. Noble has a fifty-two week low of $3.14 and a fifty-two week high of $7.39.

Hedge funds have recently modified their holdings of the company. Schroder Investment Management Group grew its stake in shares of Noble by 159.0% during the third quarter. Schroder Investment Management Group now owns 1,408,446 shares of the oil and gas company’s stock worth $6,395,000 after acquiring an additional 864,600 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Noble by 13.7% during the third quarter. Russell Investments Group Ltd. now owns 322,105 shares of the oil and gas company’s stock worth $1,482,000 after acquiring an additional 38,761 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Noble by 23.0% during the third quarter. BNP Paribas Arbitrage SA now owns 268,117 shares of the oil and gas company’s stock worth $1,233,000 after acquiring an additional 50,085 shares during the last quarter. State Street Corp boosted its position in Noble by 31.7% in the second quarter. State Street Corp now owns 22,444,196 shares of the oil and gas company’s stock valued at $81,248,000 after buying an additional 5,405,697 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Noble by 33.8% in the second quarter. Northern Trust Corp now owns 3,337,639 shares of the oil and gas company’s stock valued at $12,082,000 after buying an additional 843,007 shares during the last quarter. Institutional investors and hedge funds own 85.57% of the company’s stock.

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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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