McAlvany Wealth Management LLC Purchases 42,077 Shares of Noble Corporation PLC $NE

McAlvany Wealth Management LLC purchased a new position in shares of Noble Corporation PLC (NYSE:NE) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 42,077 shares of the company’s stock, valued at approximately $1,756,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of Noble in the third quarter valued at approximately $40,000. Versant Capital Management Inc raised its holdings in shares of Noble by 44.4% during the second quarter. Versant Capital Management Inc now owns 1,243 shares of the company’s stock worth $46,000 after acquiring an additional 382 shares during the period. Bell Investment Advisors Inc bought a new stake in shares of Noble in the third quarter valued at about $68,000. Integrated Wealth Concepts LLC bought a new position in shares of Noble in the 2nd quarter valued at about $118,000. Finally, Parallel Advisors LLC raised its stake in Noble by 43.7% in the first quarter. Parallel Advisors LLC now owns 2,693 shares of the company’s stock valued at $132,000 after buying an additional 819 shares during the period. Institutional investors own 68.14% of the company’s stock.

Noble Stock Down 7.4%

NE opened at $45.36 on Tuesday. The business’s fifty day simple moving average is $44.55 and its 200 day simple moving average is $44.47. Noble Corporation PLC has a 52 week low of $27.67 and a 52 week high of $54.98. The company has a quick ratio of 1.91, a current ratio of 1.76 and a debt-to-equity ratio of 0.44. The stock has a market cap of $7.24 billion, a PE ratio of 137.47 and a beta of 1.00.

Noble (NYSE:NE) last issued its quarterly earnings data on Monday, October 26th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.80). The company had revenue of $728.76 million during the quarter, compared to the consensus estimate of $713.82 million. Noble had a negative return on equity of 0.76% and a net margin of 1.79%. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.13) earnings per share. As a group, research analysts expect that Noble Corporation PLC will post 0.47 earnings per share for the current fiscal year.

Noble Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Wednesday, November 25th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $2.00 annualized dividend and a yield of 4.4%. Noble’s dividend payout ratio (DPR) is currently 606.06%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NE shares. Fearnley Fonds raised Noble from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Susquehanna lifted their price objective on Noble from $44.00 to $46.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 28th. Wall Street Zen cut Noble from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Noble in a research report on Thursday, October 22nd. Finally, Barclays cut their price target on shares of Noble from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Noble has a consensus rating of “Moderate Buy” and an average target price of $46.57.

Noble Profile

Noble Corporation plc (NYSE: NE) is an offshore drilling contractor that provides drilling services to the global oil and gas industry. The company operates a fleet of offshore drilling units, including drillships, semisubmersible rigs and jackup rigs, which are used to explore for and develop oil and natural gas reserves beneath the seabed.

Noble’s services include contract drilling, well planning, project management and other related support services. Its drilling units are designed to operate in a range of offshore environments, including deepwater and harsh-environment locations.