Renaissance Technologies LLC reduced its stake in Noble Corporation (NYSE:NE) by 74.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 411,600 shares of the oil and gas company’s stock after selling 1,212,499 shares during the period. Renaissance Technologies LLC’s holdings in Noble Corporation were worth $2,548,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NE. Chicago Equity Partners LLC increased its stake in Noble Corporation by 50.7% in the first quarter. Chicago Equity Partners LLC now owns 16,650 shares of the oil and gas company’s stock valued at $103,000 after buying an additional 5,600 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Noble Corporation by 16.8% in the first quarter. Teacher Retirement System of Texas now owns 19,601 shares of the oil and gas company’s stock valued at $121,000 after buying an additional 2,816 shares in the last quarter. Tiedemann Wealth Management LLC increased its stake in Noble Corporation by 41.6% in the first quarter. Tiedemann Wealth Management LLC now owns 20,730 shares of the oil and gas company’s stock valued at $128,000 after buying an additional 6,086 shares in the last quarter. World Asset Management Inc increased its stake in Noble Corporation by 1.4% in the first quarter. World Asset Management Inc now owns 21,981 shares of the oil and gas company’s stock valued at $136,000 after buying an additional 295 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in Noble Corporation by 19.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 23,166 shares of the oil and gas company’s stock valued at $143,000 after buying an additional 3,803 shares in the last quarter. 96.83% of the stock is owned by institutional investors and hedge funds.

Shares of Noble Corporation (NE) traded down 5.81% during midday trading on Tuesday, reaching $3.24. 1,921,136 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $3.80 and its 200 day moving average price is $5.07. Noble Corporation has a 12-month low of $3.22 and a 12-month high of $8.37. The company’s market cap is $793.49 million.

Noble Corporation (NYSE:NE) last posted its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.02. The business had revenue of $278.10 million for the quarter, compared to the consensus estimate of $284.99 million. Noble Corporation had a negative net margin of 122.04% and a negative return on equity of 3.19%. The company’s revenue for the quarter was down 68.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.01 EPS. Equities analysts anticipate that Noble Corporation will post ($1.29) earnings per share for the current fiscal year.

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NE has been the topic of a number of analyst reports. Seaport Global Securities restated a “neutral” rating on shares of Noble Corporation in a research report on Monday, August 7th. Jefferies Group LLC set a $7.00 price objective on shares of Noble Corporation and gave the company a “buy” rating in a research report on Saturday, July 1st. Piper Jaffray Companies set a $4.00 price objective on shares of Noble Corporation and gave the company a “hold” rating in a research report on Monday, August 7th. Goldman Sachs Group, Inc. (The) upgraded shares of Noble Corporation to a “sell” rating in a research report on Wednesday, August 9th. Finally, Deutsche Bank AG decreased their price objective on shares of Noble Corporation from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Tuesday, April 18th. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $6.10.

About Noble Corporation

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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Institutional Ownership by Quarter for Noble Corporation (NYSE:NE)

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