Noble Corp. (NE) Reaches New 12-Month Low at $6.66
Noble Corp. (NYSE:NE) hit a new 52-week low on Thursday . The stock traded as low as $6.66 and last traded at $6.91, with a volume of 4,231,883 shares traded. The stock had previously closed at $6.76.
A number of equities research analysts recently commented on NE shares. Vetr cut shares of Noble Corp. from a “strong-buy” rating to a “buy” rating and set a $9.76 target price for the company. in a research report on Monday, June 6th. Zacks Investment Research raised shares of Noble Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 19th. Jefferies Group decreased their price target on shares of Noble Corp. from $8.00 to $7.50 and set a “hold” rating for the company in a report on Friday, July 29th. Evercore ISI reaffirmed a “buy” rating on shares of Noble Corp. in a report on Saturday, July 2nd. Finally, Argus cut shares of Noble Corp. from a “buy” rating to a “hold” rating and decreased their price target for the stock from $9.71 to $8.53 in a report on Friday, May 20th. Eight analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.71.
The stock has a market cap of $1.67 billion and a P/E ratio of 2.86. The company has a 50-day moving average price of $7.93 and a 200 day moving average price of $9.07.
Noble Corp. (NYSE:NE) last announced its quarterly earnings data 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 business had revenue of $894.70 million for the quarter, compared to the consensus estimate of $527.48 million. The business’s revenue was down 37.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. On average, analysts predict that Noble Corp. will post $0.04 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 8th. Stockholders of record on Monday, August 1st were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.16%.
An institutional investor recently raised its position in Noble Corp. stock. BNP Paribas Arbitrage SA raised its position in shares of Noble Corp. (NYSE:NE) by 7.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 180,089 shares of the company’s stock after buying an additional 12,055 shares during the period. BNP Paribas Arbitrage SA owned approximately 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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