Laurion Capital Management LP Invests $284,000 in Noble Co. PLC (NYSE:NE)

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Laurion Capital Management LP purchased a new stake in shares of Noble Co. PLC (NYSE:NE) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 44,800 shares of the oil and gas company’s stock, valued at approximately $284,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake in shares of Noble by 213.5% in the first quarter. Russell Investments Group Ltd. now owns 285,315 shares of the oil and gas company’s stock valued at $1,059,000 after purchasing an additional 194,299 shares during the period. BlackRock Inc. boosted its stake in shares of Noble by 4.8% in the second quarter. BlackRock Inc. now owns 37,605,342 shares of the oil and gas company’s stock valued at $238,043,000 after purchasing an additional 1,720,572 shares during the period. Ahrens Investment Partners LLC boosted its stake in shares of Noble by 245.1% in the first quarter. Ahrens Investment Partners LLC now owns 35,200 shares of the oil and gas company’s stock valued at $131,000 after purchasing an additional 25,000 shares during the period. Saba Capital Management L.P. purchased a new position in shares of Noble in the first quarter valued at approximately $1,777,000. Finally, Rhumbline Advisers boosted its stake in shares of Noble by 2.0% in the second quarter. Rhumbline Advisers now owns 593,284 shares of the oil and gas company’s stock valued at $3,755,000 after purchasing an additional 11,379 shares during the period. Institutional investors and hedge funds own 87.63% of the company’s stock.

NE stock traded up $0.29 during midday trading on Friday, reaching $6.80. 7,472,983 shares of the company were exchanged, compared to its average volume of 5,850,906. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.81. Noble Co. PLC has a 1-year low of $3.39 and a 1-year high of $7.44. The stock has a market cap of $1.73 billion, a P/E ratio of -5.96 and a beta of 2.24.

Noble (NYSE:NE) last released its quarterly earnings data on Thursday, August 2nd. The oil and gas company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.02). Noble had a negative return on equity of 7.44% and a negative net margin of 81.87%. The company had revenue of $258.40 million for the quarter, compared to analyst estimates of $256.02 million. During the same period in the previous year, the business posted ($0.32) EPS. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. On average, equities research analysts predict that Noble Co. PLC will post -1.89 earnings per share for the current year.

Several research firms have recently commented on NE. Simmons raised shares of Noble from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $3.25 to $6.00 in a research note on Monday, October 1st. Credit Suisse Group set a $6.00 price target on shares of Noble and gave the stock a “hold” rating in a research note on Monday, September 24th. Piper Jaffray Companies upgraded shares of Noble from an “underweight” rating to a “hold” rating and set a $6.00 price target for the company in a research note on Monday, October 1st. Susquehanna Bancshares set a $8.00 price target on shares of Noble and gave the stock a “hold” rating in a research note on Wednesday. Finally, Nordea Equity Research upgraded shares of Noble from a “sell” rating to a “hold” rating in a research note on Friday, September 28th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Noble has a consensus rating of “Hold” and an average target price of $6.05.

Noble Company Profile

Noble Corporation plc operates as an offshore drilling contractor for the oil and gas industry worldwide. It provides contract drilling services using mobile offshore drilling units. As of December 31, 2017, the company operated a fleet of 8 drill ships, 6 semisubmersibles, and 14 jack ups. Noble Corporation plc was founded in 1921 and is headquartered in London, the United Kingdom.

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Institutional Ownership by Quarter for Noble (NYSE:NE)

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