Noble Corp. (NE) Shares Up 3.6%
Noble Corp. (NYSE:NE)’s share price shot up 3.6% during mid-day trading on Monday . The company 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.
A number of brokerages recently issued reports on NE. Jefferies Group reiterated a “hold” rating on shares of Noble Corp. in a research report on Sunday, July 10th. Goldman Sachs Group Inc. decreased their target price on shares of Noble Corp. from $5.50 to $4.75 in a research report on Tuesday, April 12th. Zephirin Group reiterated a “hold” rating and issued a $16.00 target price (up previously from $11.00) on shares of Noble Corp. in a research report on Thursday, May 5th. Zacks Investment Research upgraded shares of Noble Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Simmons reiterated an “underweight” rating and issued a $4.70 target price (down previously from $6.00) on shares of Noble Corp. in a research report on Friday, May 13th. Seven investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $9.77.
The firm has a market capitalization of $1.99 billion and a P/E ratio of 4.66. The firm’s 50 day moving average is $8.66 and its 200-day moving average is $9.22.
Noble Corp. (NYSE:NE) last posted its earnings results on Wednesday, April 27th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by $0.02. The company earned $612 million during the quarter, compared to analyst estimates of $632.03 million. During the same period last year, the firm posted $0.72 earnings per share. The business’s quarterly revenue was down 23.9% compared to the same quarter last year. Equities analysts anticipate that Noble Corp. will post $0.27 EPS for the current fiscal year.
A number of hedge funds have bought and sold shares of NE. BNP Paribas Arbitrage SA boosted its stake in 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 boosted its stake in 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 boosted its stake in 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 boosted its stake in 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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