Russell Investments Group Ltd. lessened its position in Noble Co. PLC (NYSE:NE) by 8.0% in the third quarter, Holdings Channel reports. The institutional investor owned 265,453 shares of the oil and gas company’s stock after selling 23,108 shares during the period. Russell Investments Group Ltd.’s holdings in Noble were worth $1,857,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NE. Fisher Asset Management LLC acquired a new stake in shares of Noble in the 3rd quarter worth about $4,850,000. Seven Eight Capital LP acquired a new stake in shares of Noble in the 3rd quarter worth about $583,000. Aperio Group LLC increased its holdings in shares of Noble by 9.6% in the 3rd quarter. Aperio Group LLC now owns 156,697 shares of the oil and gas company’s stock worth $1,102,000 after acquiring an additional 13,757 shares during the period. Welch & Forbes LLC acquired a new stake in shares of Noble in the 3rd quarter worth about $115,000. Finally, Hellman Jordan Management Co. Inc. MA acquired a new stake in shares of Noble in the 2nd quarter worth about $694,000. 85.64% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on NE shares. Tudor Pickering upgraded shares of Noble from a “hold” rating to a “buy” rating in a research report on Friday, November 2nd. Simmons upgraded shares of Noble from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $3.25 to $6.00 in a research report on Monday, October 1st. Cowen started coverage on shares of Noble in a research report on Saturday, October 13th. They set a “hold” rating and a $6.00 price objective for the company. Morgan Stanley started coverage on shares of Noble in a research report on Tuesday, September 18th. They set an “underweight” rating and a $6.00 price objective for the company. Finally, Piper Jaffray Companies set a $6.00 target price on shares of Noble and gave the stock a “hold” rating in a report on Tuesday, November 6th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $6.24.

NYSE NE opened at $4.12 on Wednesday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $1.03 billion, a PE ratio of -3.61 and a beta of 2.41. Noble Co. PLC has a 52-week low of $3.39 and a 52-week high of $7.44.

Noble (NYSE:NE) last issued its quarterly earnings data on Wednesday, October 31st. The oil and gas company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.02. The firm had revenue of $279.41 million for the quarter, compared to analyst estimates of $263.19 million. Noble had a negative net margin of 79.51% and a negative return on equity of 8.26%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.36) earnings per share. Sell-side analysts predict that Noble Co. PLC will post -1.84 EPS for the current fiscal year.

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

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