Noble Co. (NYSE:NE) saw some unusual options trading activity on Thursday. Investors bought 14,131 put options on the company. This represents an increase of 1,669% compared to the typical daily volume of 799 put options.

Noble opened at $5.85 on Friday, MarketBeat reports. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.68. Noble has a fifty-two week low of $5.49 and a fifty-two week high of $5.61.

Noble (NYSE:NE) last posted its quarterly earnings data on Wednesday, May 2nd. The oil and gas company reported ($0.55) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.57) by $0.02. The firm had revenue of $235.16 million for the quarter, compared to analysts’ expectations of $228.45 million. Noble had a negative net margin of 32.20% and a negative return on equity of 6.29%. The business’s quarterly revenue was down 35.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.17) EPS. equities analysts expect that Noble will post -1.83 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Millennium Management LLC raised its position in shares of Noble by 20.8% during the 1st quarter. Millennium Management LLC now owns 542,423 shares of the oil and gas company’s stock valued at $2,012,000 after buying an additional 93,379 shares in the last quarter. Ahrens Investment Partners LLC raised its position in shares of Noble by 245.1% during the 1st quarter. Ahrens Investment Partners LLC now owns 35,200 shares of the oil and gas company’s stock valued at $131,000 after buying an additional 25,000 shares in the last quarter. Saba Capital Management L.P. purchased a new stake in shares of Noble during the 1st quarter valued at $1,777,000. Energy Opportunities Capital Management LLC raised its position in shares of Noble by 7.2% during the 1st quarter. Energy Opportunities Capital Management LLC now owns 326,966 shares of the oil and gas company’s stock valued at $1,213,000 after buying an additional 22,080 shares in the last quarter. Finally, Element Capital Management LLC purchased a new stake in shares of Noble during the 1st quarter valued at $198,000. Hedge funds and other institutional investors own 86.82% of the company’s stock.

Several analysts have issued reports on the stock. ValuEngine upgraded shares of Noble from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. Zacks Investment Research cut shares of Noble from a “hold” rating to a “sell” rating in a research note on Monday, February 5th. Cowen reiterated a “hold” rating and issued a $4.00 target price on shares of Noble in a research note on Thursday, March 15th. Argus upgraded shares of Noble from a “hold” rating to a “buy” rating in a research note on Tuesday, March 13th. Finally, Piper Jaffray set a $3.00 target price on shares of Noble and gave the stock a “sell” rating in a research note on Monday, February 26th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. Noble presently has a consensus rating of “Hold” and an average price target of $4.41.

Noble Company Profile

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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