Energy Opportunities Capital Management LLC Sells 79,325 Shares of Noble Corporation (NE)
Energy Opportunities Capital Management LLC trimmed its holdings in Noble Corporation (NYSE:NE) by 18.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 343,581 shares of the oil and gas company’s stock after selling 79,325 shares during the period. Energy Opportunities Capital Management LLC owned approximately 0.14% of Noble worth $1,580,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new position in Noble in the 3rd quarter valued at approximately $102,000. Pinebridge Investments L.P. purchased a new position in Noble in the 2nd quarter valued at approximately $117,000. Nisa Investment Advisors LLC grew its stake in Noble by 109.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 31,400 shares of the oil and gas company’s stock valued at $125,000 after buying an additional 16,400 shares in the last quarter. BlueCrest Capital Management Ltd grew its stake in Noble by 179.0% in the 2nd quarter. BlueCrest Capital Management Ltd now owns 42,652 shares of the oil and gas company’s stock valued at $154,000 after buying an additional 27,365 shares in the last quarter. Finally, Sanders Morris Harris LLC purchased a new position in Noble in the 3rd quarter valued at approximately $161,000. Institutional investors and hedge funds own 87.10% of the company’s stock.
Noble Corporation (NE) traded down $0.18 during midday trading on Friday, hitting $3.91. 6,494,200 shares of the stock were exchanged, compared to its average volume of 10,091,459. Noble Corporation has a 52 week low of $3.14 and a 52 week high of $7.80. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.64.
Noble (NYSE:NE) last posted its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share (EPS) for the quarter, hitting 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 company had revenue of $266.20 million during the quarter, compared to the consensus estimate of $269.61 million. During the same period in the previous year, the firm posted ($0.23) EPS. The firm’s revenue was down 30.9% compared to the same quarter last year. equities analysts expect that Noble Corporation will post -1.17 EPS for the current year.
A number of research analysts recently weighed in on the stock. Argus reiterated a “sell” rating and issued a $6.00 price objective on shares of Noble in a research note on Friday, August 18th. UBS upgraded shares of Noble from a “neutral” rating to a “buy” rating and boosted their price target for the company from $4.00 to $6.00 in a research report on Monday, September 25th. Cowen set a $3.00 price target on shares of Noble and gave the company a “hold” rating in a research report on Wednesday, October 18th. Royal Bank of Canada restated a “hold” rating and set a $5.00 price target on shares of Noble in a research report on Friday, September 1st. Finally, ValuEngine lowered shares of Noble from a “sell” rating to a “strong sell” rating in a research report on Friday, December 1st. Six investment 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 company presently has an average rating of “Hold” and a consensus target price of $5.56.
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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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