Noble (NE) Given a $5.00 Price Target at Cowen
NE has been the subject of a number of other reports. Royal Bank of Canada set a $5.00 price target on Noble and gave the company a hold rating in a research note on Sunday, November 12th. Deutsche Bank initiated coverage on Noble in a research note on Tuesday, October 10th. They set a hold rating and a $4.00 price target for the company. Jefferies Group set a $6.00 price objective on Noble and gave the stock a buy rating in a research note on Thursday, January 4th. UBS Group raised Noble from a neutral rating to a buy rating and raised their price objective for the stock from $4.00 to $6.00 in a research note on Monday, September 25th. Finally, initiated coverage on Noble in a research note on Thursday, October 19th. They set a buy rating and a $5.30 price objective for the company. Seven investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $5.41.
Shares of Noble (NYSE NE) traded up $0.15 during midday trading on Thursday, reaching $5.77. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $1,410.00, a PE ratio of -0.79 and a beta of 2.34. Noble has a 1-year low of $3.14 and a 1-year high of $7.76.
Noble (NYSE:NE) last issued its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.36). The firm had revenue of $266.20 million during the quarter, compared to analyst estimates of $269.61 million. Noble had a negative return on equity of 3.94% and a negative net margin of 136.22%. The firm’s quarterly revenue was down 30.9% on a year-over-year basis. During the same period last year, the company posted ($0.23) EPS. research analysts expect that Noble will post -1.18 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Noble in the third quarter valued at $102,000. Pinebridge Investments L.P. purchased a new stake in shares of Noble in the second quarter valued at $117,000. BlueCrest Capital Management Ltd lifted its holdings in shares of Noble by 179.0% in the second quarter. BlueCrest Capital Management Ltd now owns 42,652 shares of the oil and gas company’s stock valued at $154,000 after purchasing an additional 27,365 shares in the last quarter. Sanders Morris Harris LLC purchased a new stake in shares of Noble in the third quarter valued at $161,000. Finally, ProShare Advisors LLC lifted its holdings in shares of Noble by 9.1% in the second quarter. ProShare Advisors LLC now owns 48,685 shares of the oil and gas company’s stock valued at $176,000 after purchasing an additional 4,047 shares in the last quarter. Institutional investors own 86.98% of the company’s stock.
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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.
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