Noble Corp. (NE) Shares Down 3.2%
Shares of Noble Corp. (NYSE:NE) traded down 3.2% on Tuesday . The stock traded as low as $7.16 and last traded at $7.21, with a volume of 4,119,454 shares. The stock had previously closed at $7.45.
Several analysts have weighed in on the stock. Zephirin Group reaffirmed a “hold” rating and set a $16.00 price objective (up from $11.00) on shares of Noble Corp. in a research note on Thursday, May 5th. Jefferies Group reaffirmed a “hold” rating on shares of Noble Corp. in a research note on Sunday, July 10th. Barclays PLC reaffirmed an “underweight” rating and set a $6.00 price objective on shares of Noble Corp. in a research note on Monday, April 18th. TheStreet raised shares of Noble Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, April 14th. Finally, Societe Generale cut shares of Noble Corp. from a “buy” rating to a “hold” rating and upped their price objective for the stock from $9.56 to $11.00 in a research note on Monday, April 11th. Seven analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $9.71.
The company’s 50 day moving average price is $8.00 and its 200 day moving average price is $9.09. The stock has a market capitalization of $1.75 billion and a PE ratio of 2.99.
Noble Corp. (NYSE:NE) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.01 earnings per share (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 in the prior year, the business earned $0.64 EPS. The business’s revenue for the quarter was down 37.2% on a year-over-year basis. On average, equities analysts expect that Noble Corp. will post $0.07 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 8th. Stockholders of record on Monday, August 1st were given a $0.02 dividend. The ex-dividend date was Thursday, July 28th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.11%.
A hedge fund recently raised its stake in Noble Corp. stock. BNP Paribas Arbitrage SA boosted its position in Noble Corp. (NYSE:NE) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,089 shares of the company’s stock after buying an additional 12,055 shares during the period. BNP Paribas Arbitrage SA owned about 0.07% of Noble Corp. worth $1,900,000 at the end of the most recent 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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