Noble Corp. (NE) Trading Up 5%
Noble Corp. (NYSE:NE) shares were up 5% during mid-day trading on Wednesday . The stock traded as high as $7.23 and last traded at $7.20, with a volume of 5,386,876 shares traded. The stock had previously closed at $6.86.
Several research analysts have recently weighed in on NE shares. Societe Generale lowered Noble Corp. from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $9.56 to $11.00 in a research report on Monday, April 11th. Susquehanna lowered their price objective on Noble Corp. from $11.00 to $9.00 in a research report on Tuesday, April 12th. Barclays PLC reissued an “underweight” rating and issued a $6.00 price objective on shares of Noble Corp. in a research report on Monday, April 18th. Zacks Investment Research lowered Noble Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Finally, Clarkson Capital reissued a “buy” rating on shares of Noble Corp. in a research report on Monday, April 11th. Seven equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $9.71.
The firm has a market cap of $1.75 billion and a price-to-earnings ratio of 2.99. The stock’s 50 day moving average price is $8.27 and its 200 day moving average price is $9.11.
Noble Corp. (NYSE:NE) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.22. The firm had revenue of $894.70 million for the quarter, compared to analysts’ expectations of $527.48 million. During the same quarter last year, the firm posted $0.64 EPS. The firm’s revenue was down 37.2% on a year-over-year basis. Equities analysts forecast that Noble Corp. will post $0.13 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 8th. Stockholders of record on Monday, August 1st will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, July 28th.
A hedge fund recently raised its stake in Noble Corp. stock. Schroder Investment Management Group boosted its position in shares of Noble Corp. (NYSE:NE) by 3.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 443,641 shares of the company’s stock after buying an additional 14,700 shares during the period. Schroder Investment Management Group owned approximately 0.18% of Noble Corp. worth $4,681,000 as of its most recent SEC filing.
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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