Royal Bank Of Canada Analysts Give Noble Corporation (NE) a $5.00 Price Target

Royal Bank Of Canada set a $5.00 price target on Noble Corporation (NYSE:NE) in a research note issued to investors on Saturday. The firm currently has a hold rating on the oil and gas company’s stock.

A number of other analysts have also recently weighed in on NE. Citigroup Inc. cut shares of Noble Corporation from a buy rating to a neutral rating and lowered their target price for the company from $11.00 to $4.70 in a research note on Friday, June 16th. Seaport Global Securities cut shares of Noble Corporation from a buy rating to a neutral rating and lowered their target price for the company 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 target price for the company 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 company a buy rating in a research note on Saturday, July 1st. Finally, Sanford C. Bernstein cut shares of Noble Corporation from a market perform rating to an underperform rating and lowered their target price for the company from $7.00 to $2.50 in a research note on Thursday, July 6th. Seven investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $5.67.

Noble Corporation (NE) opened at 3.89 on Friday. The firm’s market capitalization is $952.67 million. Noble Corporation has a 52 week low of $3.14 and a 52 week high of $8.37. The firm has a 50-day moving average price of $3.88 and a 200-day moving average price of $4.25.

Noble Corporation (NYSE:NE) last posted its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.31) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.02. The business had revenue of $278.10 million for the quarter, compared to analysts’ expectations of $284.99 million. Noble Corporation had a negative net margin of 122.04% and a negative return on equity of 3.19%. The firm’s revenue for the quarter was down 68.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.01 earnings per share. Equities analysts forecast that Noble Corporation will post ($1.24) EPS for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Noble Corporation by 0.9% in the first quarter. Vanguard Group Inc. now owns 20,152,512 shares of the oil and gas company’s stock valued at $124,744,000 after buying an additional 188,754 shares during the period. UBS Group AG lifted its holdings in Noble Corporation by 3.1% in the first quarter. UBS Group AG now owns 225,672 shares of the oil and gas company’s stock valued at $1,397,000 after buying an additional 6,767 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Noble Corporation by 57.3% in the first quarter. Dimensional Fund Advisors LP now owns 20,624,594 shares of the oil and gas company’s stock valued at $127,666,000 after buying an additional 7,514,153 shares during the period. Mason Street Advisors LLC lifted its holdings in Noble Corporation by 1.8% in the first quarter. Mason Street Advisors LLC now owns 115,589 shares of the oil and gas company’s stock valued at $715,000 after buying an additional 2,067 shares during the period. Finally, Credit Suisse AG lifted its holdings in Noble Corporation by 326.2% in the first quarter. Credit Suisse AG now owns 915,197 shares of the oil and gas company’s stock valued at $5,666,000 after buying an additional 700,438 shares during the period. Institutional investors and hedge funds own 95.63% of the company’s stock.

Noble Corporation 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.

Analyst Recommendations for Noble Corporation (NYSE:NE)

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