TLP Group LLC Invests $378,000 in Noble Co. (NE)
TLP Group LLC acquired a new stake in shares of Noble Co. (NYSE:NE) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 61,109 shares of the oil and gas company’s stock, valued at approximately $378,000.
A number of other hedge funds have also made changes to their positions in NE. CAMG Solamere Management LLC acquired a new stake in shares of Noble during the fourth quarter valued at approximately $102,000. Chicago Equity Partners LLC boosted its stake in shares of Noble 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 during the last quarter. Seven Eight Capital LP acquired a new stake in shares of Noble during the fourth quarter valued at approximately $106,000. Tiedemann Wealth Management LLC boosted its stake in shares of Noble 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 during the last quarter. Finally, Verde Servicos Internacionais S.A. acquired a new stake in shares of Noble during the first quarter valued at approximately $129,000. Institutional investors and hedge funds own 91.66% of the company’s stock.
Noble Co. (NE) traded up 0.74% during midday trading on Tuesday, hitting $4.10. 20,790,347 shares of the stock were exchanged. The stock’s market cap is $1.00 billion. The firm has a 50-day moving average price of $4.96 and a 200-day moving average price of $6.06. Noble Co. has a one year low of $3.97 and a one year high of $9.73.
Noble (NYSE:NE) last released its quarterly earnings results on Thursday, May 4th. The oil and gas company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.02. The firm had revenue of $363 million for the quarter, compared to analyst estimates of $368.25 million. The company’s quarterly revenue was down 40.7% compared to the same quarter last year. During the same period last year, the firm earned $0.31 EPS. On average, equities research analysts anticipate that Noble Co. will post ($1.25) EPS for the current fiscal year.
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Several analysts have commented on NE shares. Societe Generale upgraded shares of Noble from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research note on Monday, February 13th. Credit Suisse Group AG set a $10.00 price objective on shares of Noble and gave the company a “buy” rating in a research note on Saturday, February 11th. Jefferies Group LLC upgraded shares of Noble from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research note on Monday, January 30th. They noted that the move was a valuation call. Seaport Global Securities upgraded shares of Noble from a “neutral” rating to a “buy” rating in a research note on Tuesday, March 7th. Finally, TheStreet cut shares of Noble from a “c-” rating to a “d” rating in a research note on Tuesday, February 14th. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $7.16.
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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