Noble Corp. (NE) Sets New 1-Year Low at $6.66
Noble Corp. (NYSE:NE)’s share price reached a new 52-week low during trading on Thursday . The company 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.
NE has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Noble Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Vetr raised shares of Noble Corp. from a “hold” rating to a “buy” rating and set a $9.76 price objective for the company in a report on Monday, June 13th. Evercore ISI reaffirmed a “buy” rating and set a $11.00 price objective on shares of Noble Corp. in a report on Friday, May 13th. Argus downgraded shares of Noble Corp. from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $9.71 to $8.53 in a report on Friday, May 20th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Noble Corp. in a report on Sunday, July 10th. Eight investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $9.71.
The firm has a market cap of $1.56 billion and a price-to-earnings ratio of 2.67. The company has a 50 day moving average price of $7.77 and a 200 day moving average price of $9.05.
Noble Corp. (NYSE:NE) last released its earnings results on Wednesday, July 27th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by $0.22. The business had revenue of $894.70 million for the quarter, compared to analyst estimates of $527.48 million. During the same period in the previous year, the company earned $0.64 earnings per share. The business’s revenue for the quarter was down 37.2% on a year-over-year basis. On average, equities research analysts forecast that Noble Corp. will post $0.04 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 8th. Shareholders of record on Monday, August 1st were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Thursday, July 28th.
An institutional investor recently raised its position in Noble Corp. stock. BNP Paribas Arbitrage SA increased its stake in Noble Corp. (NYSE:NE) by 7.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 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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