Noble Corporation (NYSE:NE) was upgraded by stock analysts at Goldman Sachs Group, Inc. (The) to a “sell” rating in a note issued to investors on Wednesday.

Several other research firms have also recently weighed in on NE. Jefferies Group LLC reissued a “buy” rating on shares of Noble Corporation in a research note on Friday, April 14th. Deutsche Bank AG dropped their price target on shares of Noble Corporation from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Tuesday, April 18th. BMO Capital Markets set a $5.00 price target on shares of Noble Corporation and gave the company a “sell” rating in a research note on Tuesday, April 18th. Credit Suisse Group reaffirmed a “buy” rating and set a $10.00 price objective on shares of Noble Corporation in a research report on Friday, April 21st. Finally, Barclays PLC lowered their price objective on shares of Noble Corporation from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Monday, May 1st. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.10.

Shares of Noble Corporation (NYSE NE) opened at 3.36 on Wednesday. The company’s market cap is $822.14 million. Noble Corporation has a 52 week low of $3.27 and a 52 week high of $8.37. The firm has a 50-day moving average of $3.83 and a 200 day moving average of $5.17.

Noble Corporation (NYSE:NE) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.02. Noble Corporation had a negative net margin of 122.04% and a negative return on equity of 3.19%. The business had revenue of $278.10 million during the quarter, compared to analysts’ expectations of $284.99 million. During the same quarter in the prior year, the company posted $0.01 EPS. The business’s revenue for the quarter was down 68.9% on a year-over-year basis. Equities analysts expect that Noble Corporation will post ($1.29) EPS for the current fiscal year.

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Several hedge funds have recently made changes to their positions in the stock. Chicago Equity Partners LLC boosted its stake in shares of Noble Corporation by 50.7% in the first quarter. Chicago Equity Partners LLC now owns 16,650 shares of the oil and gas company’s stock valued at $103,000 after buying an additional 5,600 shares during the period. Founders Capital Management boosted its stake in shares of Noble Corporation by 95.9% in the second quarter. Founders Capital Management now owns 30,270 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 14,820 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Noble Corporation by 16.8% in the first quarter. Teacher Retirement System of Texas now owns 19,601 shares of the oil and gas company’s stock valued at $121,000 after buying an additional 2,816 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Noble Corporation by 109.3% in the second 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 during the period. Finally, Brave Asset Management Inc. boosted its stake in shares of Noble Corporation by 40.0% in the second quarter. Brave Asset Management Inc. now owns 35,000 shares of the oil and gas company’s stock valued at $127,000 after buying an additional 10,000 shares during the period. Hedge funds and other institutional investors own 98.66% of the company’s stock.

Noble Corporation 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.

Analyst Recommendations for Noble Corporation (NYSE:NE)

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