Noble Corp. (NE) Trading 7.3% Higher
Shares of Noble Corp. (NYSE:NE) traded up 7.3% during trading on Tuesday . The company traded as high as $8.79 and last traded at $8.71, with a volume of 4,492,215 shares changing hands. The stock had previously closed at $8.12.
Several equities analysts have recently weighed in on the stock. Jefferies Group reiterated a “hold” rating on shares of Noble Corp. in a report on Sunday. Zacks Investment Research downgraded shares of Noble Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Evercore ISI restated a “buy” rating on shares of Noble Corp. in a research report on Saturday, July 2nd. Vetr upgraded shares of Noble Corp. from a “hold” rating to a “buy” rating and set a $9.76 price objective on the stock in a research report on Monday, June 13th. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of Noble Corp. in a research report on Friday, May 20th. Eight research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $9.77.
The stock has a 50-day moving average of $8.69 and a 200 day moving average of $9.30. The firm has a market cap of $2.01 billion and a P/E ratio of 4.69.
Noble Corp. (NYSE:NE) last announced its earnings results on Wednesday, April 27th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.02. The business had revenue of $612 million for the quarter, compared to the consensus estimate of $632.03 million. The firm’s revenue was down 23.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 earnings per share. On average, equities analysts anticipate that Noble Corp. will post $0.32 earnings per share for the current year.
Other large investors have made changes to their positions in the company. Russell Frank Co boosted its stake in shares of Noble Corp. by 26.7% in the fourth quarter. Russell Frank Co now owns 861,001 shares of the company’s stock valued at $9,154,000 after buying an additional 181,610 shares during the period. Nationwide Fund Advisors boosted its stake in shares of Noble Corp. by 6.1% in the fourth quarter. Nationwide Fund Advisors now owns 534,547 shares of the company’s stock valued at $5,639,000 after buying an additional 30,814 shares during the period. Schroder Investment Management Group boosted its stake in shares of Noble Corp. by 3.4% in the fourth quarter. Schroder Investment Management Group now owns 443,641 shares of the company’s stock valued at $4,681,000 after buying an additional 14,700 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Noble Corp. by 7.2% in the fourth quarter. BNP Paribas Arbitrage SA now owns 180,089 shares of the company’s stock valued at $1,900,000 after buying an additional 12,055 shares during the period.
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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