ValuEngine lowered shares of Noble (NYSE:NE) from a sell rating to a strong sell rating in a report issued on Sunday morning.

NE has been the subject of a number of other research reports. Cowen reaffirmed a hold rating and issued a $3.00 price objective on shares of Noble in a research note on Tuesday, September 5th. Royal Bank of Canada set a $5.00 price objective on shares of Noble and gave the company a hold rating in a research note on Sunday, November 12th. Deutsche Bank started coverage on shares of Noble in a research report on Tuesday, October 10th. They set a hold rating and a $4.00 price target for the company. UBS Group raised shares of Noble from a neutral rating to a buy rating and increased their price target for the company from $4.00 to $6.00 in a research report on Monday, September 25th. Finally, started coverage on shares of Noble in a research report on Thursday, October 19th. They set a buy rating and a $5.30 price target for the company. Six investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $5.62.

Shares of Noble (NYSE NE) traded up $0.06 during trading hours on Friday, hitting $4.52. 7,037,600 shares of the stock were exchanged, compared to its average volume of 10,039,098. The company has a market cap of $1,107.25, a price-to-earnings ratio of -0.61 and a beta of 2.34. Noble has a 1 year low of $3.14 and a 1 year 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 issued its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported ($0.36) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.36). Noble had a negative net margin of 136.22% and a negative return on equity of 3.94%. The firm had revenue of $266.20 million for the quarter, compared to analyst estimates of $269.61 million. During the same quarter in the prior year, the firm earned ($0.23) EPS. The business’s revenue for the quarter was down 30.9% compared to the same quarter last year. research analysts forecast that Noble will post -1.18 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in NE. Schwab Charles Investment Management Inc. boosted its holdings in shares of Noble by 53.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,674,562 shares of the oil and gas company’s stock valued at $6,062,000 after acquiring an additional 583,407 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Noble by 25.4% during the 2nd quarter. Arizona State Retirement System now owns 127,650 shares of the oil and gas company’s stock valued at $462,000 after acquiring an additional 25,850 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Noble by 12.4% during the 2nd quarter. Rhumbline Advisers now owns 472,610 shares of the oil and gas company’s stock valued at $1,711,000 after acquiring an additional 51,956 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Noble by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 5,645,549 shares of the oil and gas company’s stock worth $20,437,000 after buying an additional 145,172 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Noble by 30.7% in the second quarter. Legal & General Group Plc now owns 1,210,910 shares of the oil and gas company’s stock worth $4,386,000 after buying an additional 284,597 shares during the last quarter. Institutional investors and hedge funds own 86.80% of the company’s stock.

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About Noble

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 (NYSE:NE)

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