An issue of Noble Corporation (NYSE:NE) bonds rose 0.8% as a percentage of their face value during trading on Wednesday. The high-yield debt issue has a 4.625% coupon and will mature on March 1, 2021. The debt is now trading at $93.25. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its stock price.

NE has been the topic of several research analyst reports. Royal Bank of Canada set a $5.00 target price on shares of Noble and gave the stock a “hold” rating in a research report on Sunday, November 12th. ValuEngine raised shares of Noble from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. Piper Jaffray Companies reissued a “hold” rating and set a $2.85 target price on shares of Noble in a research report on Sunday, October 22nd. Deutsche Bank initiated coverage on shares of Noble in a research report on Tuesday, October 10th. They set a “hold” rating and a $4.00 target price on the stock. Finally, initiated coverage on shares of Noble in a research report on Thursday, October 19th. They set a “buy” rating and a $5.30 target price on the stock. Six equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $5.62.

Noble Corporation (NYSE NE) traded up $0.21 during trading hours on Wednesday, reaching $4.00. 12,258,380 shares of the company’s stock were exchanged, compared to its average volume of 10,084,427. 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 Corporation has a 52 week low of $3.14 and a 52 week high of $7.80.

Noble (NYSE:NE) last issued its earnings results on Thursday, November 2nd. The oil and gas company reported ($0.36) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.36). The business had revenue of $266.20 million during the quarter, compared to analysts’ expectations of $269.61 million. Noble had a negative net margin of 136.22% and a negative return on equity of 3.94%. The company’s quarterly revenue was down 30.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.23) earnings per share. equities research analysts predict that Noble Corporation will post -1.17 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new stake in Noble during the third quarter worth about $102,000. Pinebridge Investments L.P. acquired a new stake in Noble during the second quarter worth about $117,000. BlueCrest Capital Management Ltd increased its position in Noble by 179.0% during the second quarter. BlueCrest Capital Management Ltd now owns 42,652 shares of the oil and gas company’s stock worth $154,000 after purchasing an additional 27,365 shares during the last quarter. Sanders Morris Harris LLC acquired a new stake in Noble during the third quarter worth about $161,000. Finally, ProShare Advisors LLC increased its position in Noble by 9.1% during the second quarter. ProShare Advisors LLC now owns 48,685 shares of the oil and gas company’s stock worth $176,000 after purchasing an additional 4,047 shares during the last quarter. Hedge funds and other institutional investors own 86.80% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This report was first posted by Watch List News and is the property of of Watch List News. If you are accessing this report on another domain, it was copied illegally and reposted in violation of U.S. and international trademark and copyright laws. The legal version of this report can be accessed at https://www.watchlistnews.com/noble-ne-debt-trading-0-8-higher/1775209.html.

Noble 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.

Receive News & Ratings for Noble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noble and related companies with MarketBeat.com's FREE daily email newsletter.