UBS Asset Management Americas Inc. Raises Stake in Noble Corp. (NE)
UBS Asset Management Americas Inc. raised its stake in Noble Corp. (NYSE:NE) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,499,522 shares of the company’s stock after buying an additional 25,937 shares during the period. UBS Asset Management Americas Inc. owned approximately 1.03% of Noble Corp. worth $20,596,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. James Investment Research Inc. acquired a new position in shares of Noble Corp. during the second quarter valued at $124,000. PGGM Investments increased its position in shares of Noble Corp. by 2.5% in the first quarter. PGGM Investments now owns 166,830 shares of the company’s stock valued at $1,727,000 after buying an additional 4,048 shares during the period. Glenmede Trust Co. NA increased its position in shares of Noble Corp. by 98.5% in the second quarter. Glenmede Trust Co. NA now owns 355,782 shares of the company’s stock valued at $2,930,000 after buying an additional 176,570 shares during the period. Pioneer Investment Management Inc. acquired a new position in shares of Noble Corp. during the fourth quarter valued at $7,593,000. Finally, Aperio Group LLC increased its position in shares of Noble Corp. by 19.8% in the first quarter. Aperio Group LLC now owns 235,565 shares of the company’s stock valued at $2,438,000 after buying an additional 39,013 shares during the period. Institutional investors own 91.29% of the company’s stock.
Noble Corp. (NYSE:NE) traded down 2.20% during trading on Monday, reaching $5.34. The company’s stock had a trading volume of 5,990,922 shares. The company’s 50-day moving average is $6.46 and its 200-day moving average is $8.83. Noble Corp. has a 1-year low of $5.31 and a 1-year high of $14.64. The company has a market capitalization of $1.30 billion, a P/E ratio of 2.22 and a beta of 2.05.
Noble Corp. (NYSE:NE) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.22. Noble Corp. had a net margin of 18.34% and a return on equity of 5.22%. The company earned $894.70 million during the quarter, compared to analysts’ expectations of $527.48 million. During the same quarter in the prior year, the company earned $0.64 earnings per share. The firm’s revenue was down 37.2% compared to the same quarter last year. Equities analysts anticipate that Noble Corp. will post ($0.06) EPS for the current year.
Several equities analysts recently weighed in on NE shares. Credit Suisse Group AG reiterated a “buy” rating and issued a $10.00 price target on shares of Noble Corp. in a report on Thursday, September 1st. Citigroup Inc. dropped their price objective on shares of Noble Corp. from $9.00 to $6.50 and set a “neutral” rating on the stock in a research note on Thursday, August 25th. Scotiabank reaffirmed a “sector perform” rating and set a $6.50 price objective on shares of Noble Corp. in a research note on Wednesday, September 14th. Vetr cut shares of Noble Corp. from a “strong-buy” rating to a “buy” rating and set a $7.10 price objective on the stock. in a research note on Thursday, September 8th. Finally, Zacks Investment Research cut shares of Noble Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Eight equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $8.88.
Noble Corp. 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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