Cowen and Company set a $3.00 price target on Noble Corporation (NYSE:NE) in a research note released on Wednesday, October 18th. The firm currently has a hold rating on the oil and gas company’s stock.
Several other equities analysts have also recently issued reports on NE. Seaport Global Securities cut shares of Noble Corporation from a buy rating to a neutral rating and lowered their price objective for the stock from $5.00 to $3.50 in a research note on Wednesday, June 21st. Bank of America Corporation cut shares of Noble Corporation from a neutral rating to an underperform rating and lowered their price objective for the stock from $7.00 to $2.00 in a research note on Friday, June 30th. Jefferies Group LLC set a $7.00 target price on shares of Noble Corporation and gave the stock a buy rating in a report on Saturday, July 1st. Sanford C. Bernstein cut shares of Noble Corporation from a market perform rating to an underperform rating and decreased their target price for the stock from $7.00 to $2.50 in a report on Thursday, July 6th. Finally, Royal Bank Of Canada reiterated a sell rating and issued a $5.00 target price on shares of Noble Corporation in a report on Thursday, July 20th. Six analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have given a buy rating to the company. Noble Corporation currently has an average rating of Hold and an average price target of $5.56.
Noble Corporation (NE) traded up $0.26 during trading on Wednesday, hitting $4.35. 9,865,220 shares of the stock were exchanged, compared to its average volume of 6,404,318. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.45 and a current ratio of 1.58. Noble Corporation has a one year low of $3.14 and a one year high of $8.37.
Noble Corporation (NYSE:NE) last released its earnings results 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). The firm had revenue of $266.20 million for the quarter, compared to analysts’ expectations of $269.61 million. Noble Corporation had a negative net margin of 136.22% and a negative return on equity of 3.94%. Noble Corporation’s quarterly revenue was down 30.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.23) EPS. research analysts expect that Noble Corporation will post -1.18 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in NE. BlackRock Inc. raised its position in shares of Noble Corporation by 13,598.2% in the first quarter. BlackRock Inc. now owns 23,547,082 shares of the oil and gas company’s stock valued at $145,756,000 after purchasing an additional 23,375,183 shares during the period. State Street Corp raised its position in shares of Noble Corporation 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 purchasing an additional 5,405,697 shares during the period. Vanguard Group Inc. raised its position in shares of Noble Corporation by 16.7% in the second quarter. Vanguard Group Inc. now owns 23,523,527 shares of the oil and gas company’s stock valued at $85,155,000 after purchasing an additional 3,371,015 shares during the period. Marshall Wace LLP raised its position in shares of Noble Corporation by 6,249.0% in the second quarter. Marshall Wace LLP now owns 2,377,944 shares of the oil and gas company’s stock valued at $9,512,000 after purchasing an additional 2,340,490 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Noble Corporation in the second quarter valued at approximately $3,555,000. 94.43% of the stock is currently owned by institutional investors.
About Noble Corporation
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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