An issue of Noble Co. PLC (NYSE:NE) bonds rose 1% as a percentage of their face value during trading on Monday. The high-yield issue of debt has a 6.2% coupon and is set to mature on August 1, 2040. The debt is now trading at $77.00 and was trading at $75.25 one week ago. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its share price.

NE has been the subject of a number of research reports. Credit Suisse Group cut Noble from an “outperform” rating to a “neutral” rating and set a $5.00 target price for the company. in a report on Wednesday, May 30th. ValuEngine upgraded Noble from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 2nd. Sanford C. Bernstein upgraded Noble from an “underperform” rating to a “market perform” rating and set a $5.00 target price for the company in a report on Tuesday, June 5th. Jefferies Financial Group cut Noble from a “buy” rating to a “hold” rating and set a $5.00 target price for the company. in a report on Thursday, June 21st. Finally, Citigroup boosted their target price on Noble from $4.70 to $5.90 and gave the stock a “neutral” rating in a report on Thursday, June 21st. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Noble has a consensus rating of “Hold” and an average target price of $5.18.

Shares of NYSE:NE traded up $0.25 during trading on Monday, reaching $7.09. 7,109,200 shares of the stock were exchanged, compared to its average volume of 5,821,014. The stock has a market capitalization of $1.69 billion, a P/E ratio of -6.22 and a beta of 2.27. Noble Co. PLC has a 12-month low of $3.39 and a 12-month high of $7.22. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.07 and a current ratio of 2.07.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NE. Wells Fargo & Company MN boosted its holdings in Noble by 11.1% in the 1st quarter. Wells Fargo & Company MN now owns 512,603 shares of the oil and gas company’s stock worth $1,902,000 after acquiring an additional 51,177 shares during the period. Rhumbline Advisers boosted its holdings in Noble by 2.3% in the 1st quarter. Rhumbline Advisers now owns 581,905 shares of the oil and gas company’s stock worth $2,159,000 after acquiring an additional 13,251 shares during the period. Swiss National Bank boosted its holdings in Noble by 6.0% in the 1st quarter. Swiss National Bank now owns 426,098 shares of the oil and gas company’s stock worth $1,581,000 after acquiring an additional 24,200 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in Noble by 9.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 2,346,307 shares of the oil and gas company’s stock worth $8,705,000 after acquiring an additional 200,514 shares during the period. Finally, BlackRock Inc. boosted its holdings in Noble by 2.1% in the 1st quarter. BlackRock Inc. now owns 35,884,770 shares of the oil and gas company’s stock worth $133,132,000 after acquiring an additional 731,810 shares during the period. Hedge funds and other institutional investors own 87.63% of the company’s stock.

Noble Company Profile (NYSE:NE)

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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