Brokerages Set Noble Corporation (NE) PT at $5.62
Shares of Noble Corporation (NYSE:NE) have earned a consensus rating of “Hold” from the thirty analysts that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $5.62.
A number of equities analysts have recently commented on NE shares. Zacks Investment Research upgraded shares of Noble from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a report on Wednesday, October 18th. UBS upgraded shares of Noble from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $4.00 to $6.00 in a report on Monday, September 25th. started coverage on shares of Noble in a report on Thursday, October 19th. They set a “buy” rating and a $5.30 price target on the stock. Piper Jaffray Companies reiterated a “hold” rating and set a $2.85 price target on shares of Noble in a report on Sunday, October 22nd. Finally, Cowen set a $3.00 price target on shares of Noble and gave the stock a “hold” rating in a report on Wednesday, October 18th.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its stake in Noble by 37.6% in the second quarter. BlackRock Inc. now owns 32,390,455 shares of the oil and gas company’s stock valued at $117,253,000 after purchasing an additional 8,843,373 shares in the last quarter. Vanguard Group Inc. increased its stake in Noble 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 in the last quarter. State Street Corp increased its stake in Noble 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 in the last quarter. Contrarius Investment Management Ltd increased its stake in Noble by 21.7% in the third quarter. Contrarius Investment Management Ltd now owns 6,631,412 shares of the oil and gas company’s stock valued at $30,504,000 after purchasing an additional 1,184,494 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Noble by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 5,645,549 shares of the oil and gas company’s stock valued at $20,437,000 after purchasing an additional 145,172 shares in the last quarter. 87.10% of the stock is owned by hedge funds and other institutional investors.
Shares of Noble (NYSE:NE) traded down $0.18 during trading on Monday, reaching $3.73. 12,762,807 shares of the company’s stock were exchanged, compared to its average volume of 7,220,000. Noble has a 1 year low of $3.14 and a 1 year high of $7.80. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.64.
Noble (NYSE:NE) last issued its earnings results on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.36). Noble had a negative net margin of 136.22% and a negative return on equity of 3.94%. The firm had revenue of $266.20 million for the quarter, compared to analyst estimates of $269.61 million. During the same quarter last year, the business posted ($0.23) earnings per share. The company’s quarterly revenue was down 30.9% on a year-over-year basis. equities analysts anticipate that Noble will post -1.17 EPS for the current fiscal year.
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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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