Noble Co. PLC (NYSE:NE) shot up 7% on Thursday . The company traded as high as $1.09 and last traded at $1.07, 3,821,702 shares traded hands during trading. A decline of 24% from the average session volume of 5,045,356 shares. The stock had previously closed at $1.00.

A number of brokerages recently weighed in on NE. Pareto Securities cut Noble from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Citigroup cut Noble from a “neutral” rating to a “sell” rating and set a $1.00 price target for the company. in a research note on Monday, September 23rd. ValuEngine cut Noble from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Royal Bank of Canada cut Noble from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $9.00 to $3.00 in a research note on Wednesday, September 25th. Finally, Morgan Stanley decreased their price target on Noble from $3.00 to $2.00 and set an “underweight” rating for the company in a research note on Monday, October 7th. Seven investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $2.32.

The company has a market capitalization of $259.17 million, a PE ratio of -0.58 and a beta of 2.52. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.96. The business has a 50 day simple moving average of $1.27 and a 200 day simple moving average of $1.69.

Noble (NYSE:NE) last announced its quarterly earnings data on Wednesday, October 30th. The oil and gas company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.07. Noble had a negative return on equity of 8.76% and a negative net margin of 60.35%. The firm had revenue of $275.53 million during the quarter, compared to analysts’ expectations of $260.72 million. During the same period last year, the business posted ($0.43) earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities analysts expect that Noble Co. PLC will post -1.66 EPS for the current fiscal year.

In other news, Director Julie H. Edwards acquired 25,000 shares of Noble stock in a transaction dated Monday, September 30th. The stock was purchased at an average cost of $1.24 per share, for a total transaction of $31,000.00. Following the completion of the purchase, the director now directly owns 189,302 shares in the company, valued at approximately $234,734.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.30% of the company’s stock.

Large investors have recently made changes to their positions in the company. Parallax Volatility Advisers L.P. acquired a new stake in Noble during the second quarter worth about $38,000. Atria Investments LLC acquired a new stake in Noble during the second quarter worth about $558,000. First Mercantile Trust Co. grew its holdings in Noble by 32.0% during the second quarter. First Mercantile Trust Co. now owns 36,362 shares of the oil and gas company’s stock worth $68,000 after acquiring an additional 8,816 shares during the period. LPL Financial LLC grew its holdings in Noble by 40.2% during the second quarter. LPL Financial LLC now owns 39,081 shares of the oil and gas company’s stock worth $73,000 after acquiring an additional 11,214 shares during the period. Finally, World Asset Management Inc grew its holdings in Noble by 18.0% during the second quarter. World Asset Management Inc now owns 45,695 shares of the oil and gas company’s stock worth $85,000 after acquiring an additional 6,978 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

About Noble (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, 2018, the company operated a fleet of 24 drilling rigs consisted of 8 drill ships, 4 semisubmersibles, and 12 jack ups.

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