Noble Corp. (NE) Sees Unusually-High Trading Volume
Noble Corp. (NYSE:NE) shares saw unusually-strong trading volume on Wednesday . Approximately 9,132,215 shares changed hands during mid-day trading, a decline of 2% from the previous session’s volume of 9,340,508 shares.The stock last traded at $6.45 and had previously closed at $6.60.
A number of analysts have recently weighed in on NE shares. Zacks Investment Research lowered shares of Noble Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Vetr upgraded shares of 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 restated a “buy” rating and set a $11.00 price target on shares of Noble Corp. in a research report on Friday, May 13th. Argus lowered shares of Noble Corp. from a “buy” rating to a “hold” rating and dropped their price target for the company from $9.71 to $8.53 in a research report on Friday, May 20th. Finally, Jefferies Group restated a “hold” rating on shares of Noble Corp. in a research report on Sunday, July 10th. Eight 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. The stock currently has a consensus rating of “Hold” and an average price target of $9.63.
The stock has a 50-day moving average price of $7.63 and a 200 day moving average price of $9.04. The stock has a market capitalization of $1.55 billion and a P/E ratio of 2.66.
Noble Corp. (NYSE:NE) last released its 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 business had revenue of $894.70 million for the quarter, compared to the consensus estimate of $527.48 million. The company’s quarterly revenue was down 37.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. Analysts forecast that Noble Corp. will post $0.01 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 8th. Shareholders of record on Monday, August 1st were issued a $0.02 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $0.08 dividend on an annualized basis and a yield of 1.25%.
An institutional investor recently raised its position 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 Securities and Exchange Commission (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 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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