Noble Corp. (NYSE:NE)’s share price traded up 3.6% during mid-day trading on Monday . The stock traded as high as $8.57 and last traded at $8.54, with a volume of 3,865,374 shares changing hands. The stock had previously closed at $8.24.

Several equities analysts have recently issued reports on the company. Cowen and Company reduced their target price on Noble Corp. from $10.00 to $9.50 in a report on Monday, March 21st. Zephirin Group reiterated a “hold” rating and issued a $16.00 price objective (up previously from $11.00) on shares of Noble Corp. in a research note on Thursday, May 5th. Jefferies Group reiterated a “hold” rating on shares of Noble Corp. in a research note on Sunday, July 10th. Barclays PLC reiterated an “underweight” rating and issued a $6.00 price objective on shares of Noble Corp. in a research note on Monday, April 18th. Finally, TheStreet upgraded Noble Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, April 14th. Eight analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $9.77.

The stock has a market capitalization of $2.06 billion and a P/E ratio of 4.81. The firm has a 50 day moving average price of $8.68 and a 200-day moving average price of $9.27.

Noble Corp. (NYSE:NE) last released 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 company had revenue of $612 million for the quarter, compared to the consensus estimate of $632.03 million. During the same quarter last year, the business posted $0.72 EPS. The business’s quarterly revenue was down 23.9% compared to the same quarter last year. Equities research analysts predict that Noble Corp. will post $0.28 EPS for the current year.

Other hedge funds recently made changes to their positions in the company. 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 last quarter. 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 last quarter. 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 last quarter. Finally, 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 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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