Noble Corp. (NE) Stock Price Up 7.5%
Noble Corp. (NYSE:NE)’s share price rose 7.5% during trading on Monday . The stock traded as high as $6.92 and last traded at $6.89, with a volume of 5,167,419 shares. The stock had previously closed at $6.41.
NE has been the topic of several recent research reports. Vetr raised Noble Corp. from a “hold” rating to a “buy” rating and set a $9.76 price target on the stock in a research report on Monday, June 13th. Evercore ISI reaffirmed a “buy” rating on shares of Noble Corp. in a research report on Saturday, July 2nd. Zephirin Group reaffirmed a “hold” rating and issued a $16.00 target price (up from $11.00) on shares of Noble Corp. in a research report on Thursday, May 5th. Argus lowered Noble Corp. from a “buy” rating to a “hold” rating and cut their target price for the company from $9.71 to $8.53 in a research report on Friday, May 20th. Finally, Zacks Investment Research raised Noble Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 19th. Eight research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $9.71.
The firm’s 50 day moving average is $7.77 and its 200 day moving average is $9.05. The stock has a market capitalization of $1.64 billion and a price-to-earnings ratio of 2.81.
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 earned $894.70 million during the quarter, compared to the consensus estimate of $527.48 million. The company’s revenue for the quarter was down 37.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 EPS. Equities research analysts forecast that Noble Corp. will post $0.04 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 8th. Shareholders 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 1.19%.
A hedge fund recently raised its stake in Noble Corp. stock. Schroder Investment Management Group boosted its position in Noble Corp. (NYSE:NE) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 443,641 shares of the company’s stock after buying an additional 14,700 shares during the period. Schroder Investment Management Group owned 0.18% of Noble Corp. worth $4,681,000 as of its most recent filing with the SEC.
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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