Commonwealth Bank of Australia lessened its stake in Noble Co. PLC (NYSE:NE) by 76.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 128,828 shares of the oil and gas company’s stock after selling 410,800 shares during the quarter. Commonwealth Bank of Australia owned 0.05% of Noble worth $812,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Matarin Capital Management LLC acquired a new position in shares of Noble in the 1st quarter valued at about $118,000. Ahrens Investment Partners LLC raised its holdings in Noble by 245.1% in the 1st quarter. Ahrens Investment Partners LLC now owns 35,200 shares of the oil and gas company’s stock worth $131,000 after purchasing an additional 25,000 shares during the period. NumerixS Investment Technologies Inc acquired a new position in Noble in the 2nd quarter worth about $229,000. LMR Partners LLP acquired a new position in Noble in the 2nd quarter worth about $317,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Noble in the 2nd quarter worth about $330,000. 87.64% of the stock is owned by institutional investors and hedge funds.

NYSE:NE opened at $6.15 on Thursday. Noble Co. PLC has a 12 month low of $3.39 and a 12 month high of $6.84. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.81. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -5.39 and a beta of 2.27.

Noble (NYSE:NE) last posted its quarterly earnings data on Thursday, August 2nd. The oil and gas company reported ($0.49) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by ($0.02). Noble had a negative return on equity of 7.44% and a negative net margin of 81.87%. The firm had revenue of $258.40 million for the quarter, compared to analysts’ expectations of $256.02 million. During the same quarter last year, the firm posted ($0.32) earnings per share. Noble’s quarterly revenue was down 7.1% on a year-over-year basis. equities research analysts forecast that Noble Co. PLC will post -1.89 earnings per share for the current year.

A number of research firms recently weighed in on NE. Citigroup upped their price target on Noble from $4.70 to $5.90 and gave the stock a “neutral” rating in a report on Thursday, June 21st. Seaport Global Securities set a $5.00 price target on Noble and gave the stock a “hold” rating in a report on Monday, August 6th. Jefferies Financial Group cut Noble from a “buy” rating to a “hold” rating and set a $5.00 price target for the company. in a report on Thursday, June 21st. Argus raised Noble from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Finally, ValuEngine raised Noble from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 2nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Noble currently has an average rating of “Hold” and an average price target of $5.12.

Noble Profile

Noble Corporation plc operates as an offshore drilling contractor for the oil and gas industry worldwide. It provides contract drilling services using mobile offshore drilling units. As of December 31, 2017, the company operated a fleet of 8 drill ships, 6 semisubmersibles, and 14 jack ups. Noble Corporation plc was founded in 1921 and is headquartered in London, the United Kingdom.

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Institutional Ownership by Quarter for Noble (NYSE:NE)

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