Shares of Noble Corp. (NYSE:NE) were down 4.5% on Wednesday . The company traded as low as $8.13 and last traded at $8.26, with a volume of 6,578,714 shares. The stock had previously closed at $8.65.

A number of analysts have weighed in on NE shares. Societe Generale cut shares of Noble Corp. from a “buy” rating to a “hold” rating and boosted their target price for the stock from $9.56 to $11.00 in a research note on Monday, April 11th. Susquehanna decreased their target price on shares of Noble Corp. from $11.00 to $9.00 in a research note on Tuesday, April 12th. Barclays PLC reaffirmed an “underweight” rating and set a $6.00 target price on shares of Noble Corp. in a research note on Monday, April 18th. Jefferies Group boosted their target price on shares of Noble Corp. from $7.00 to $9.00 and gave the stock a “hold” rating in a research note on Monday, April 4th. Finally, Clarkson Capital reaffirmed a “buy” rating on shares of Noble Corp. in a research note on Monday, April 11th. Eight research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $9.77.

The firm’s 50-day moving average price is $8.68 and its 200-day moving average price is $9.29. The company has a market capitalization of $2.06 billion and a PE ratio of 4.818.

Noble Corp. (NYSE:NE) last announced its earnings results on Wednesday, April 27th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $612 million for the quarter, compared to analysts’ expectations of $632.03 million. During the same quarter last year, the firm earned $0.72 earnings per share. The company’s quarterly revenue was down 23.9% on a year-over-year basis. On average, analysts anticipate that Noble Corp. will post $0.30 earnings per share for the current fiscal year.

Several large investors recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised 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 worth $1,900,000 after buying an additional 12,055 shares during the last quarter. Schroder Investment Management Group raised 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 worth $4,681,000 after buying an additional 14,700 shares during the last quarter. Nationwide Fund Advisors raised 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 worth $5,639,000 after buying an additional 30,814 shares during the last quarter. Finally, Russell Frank Co raised 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 worth $9,154,000 after buying an additional 181,610 shares during the last quarter.

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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