New York State Common Retirement Fund boosted its stake in Noble Co. PLC (NYSE:NE) by 44.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,905,017 shares of the oil and gas company’s stock after buying an additional 583,773 shares during the period. New York State Common Retirement Fund owned approximately 0.77% of Noble worth $4,991,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. LPL Financial LLC grew its stake in Noble by 16.9% in the 4th quarter. LPL Financial LLC now owns 25,178 shares of the oil and gas company’s stock valued at $66,000 after buying an additional 3,649 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Noble by 39.3% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 26,136 shares of the oil and gas company’s stock valued at $68,000 after buying an additional 7,370 shares during the last quarter. Teachers Advisors LLC grew its stake in Noble by 1.8% in the 3rd quarter. Teachers Advisors LLC now owns 501,632 shares of the oil and gas company’s stock valued at $3,526,000 after buying an additional 8,793 shares during the last quarter. Creative Planning acquired a new position in Noble in the 4th quarter valued at about $27,000. Finally, Legal & General Group Plc boosted its holdings in Noble by 0.8% in the 3rd quarter. Legal & General Group Plc now owns 1,242,757 shares of the oil and gas company’s stock valued at $8,697,000 after purchasing an additional 10,417 shares during the period. Institutional investors and hedge funds own 87.59% of the company’s stock.

Shares of Noble stock opened at $2.89 on Friday. Noble Co. PLC has a 1-year low of $2.35 and a 1-year high of $7.44. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.83. The company has a market cap of $718.76 million, a PE ratio of -1.57 and a beta of 2.68.

Noble (NYSE:NE) last issued its quarterly earnings results on Wednesday, February 20th. The oil and gas company reported ($0.36) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.05. Noble had a negative net margin of 81.74% and a negative return on equity of 9.16%. The company had revenue of $309.90 million during the quarter, compared to the consensus estimate of $289.04 million. During the same quarter in the prior year, the firm posted ($0.29) EPS. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. On average, research analysts forecast that Noble Co. PLC will post -1.68 earnings per share for the current year.

A number of analysts have issued reports on the stock. Barclays set a $3.00 price objective on shares of Noble and gave the company a “sell” rating in a report on Wednesday, February 20th. ValuEngine downgraded shares of Noble from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Bank of America downgraded shares of Noble to a “sell” rating in a report on Thursday, December 20th. Argus downgraded shares of Noble from a “hold” rating to a “sell” rating in a report on Friday, February 22nd. Finally, Goldman Sachs Group assumed coverage on shares of Noble in a report on Sunday, March 10th. They issued a “neutral” rating and a $3.50 price objective for the company. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $5.58.

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About Noble

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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