Sippican Capital Advisors Has $1,338,000 Position in Noble Corp. (NE)
Sippican Capital Advisors increased its stake in shares of Noble Corp. (NYSE:NE) by 35.1% during the second quarter, Holdings Channel reports. The institutional investor owned 162,414 shares of the company’s stock after buying an additional 42,187 shares during the period. Noble Corp. comprises about 1.6% of Sippican Capital Advisors’ holdings, making the stock its 22nd largest position. Sippican Capital Advisors owned approximately 0.07% of Noble Corp. worth $1,338,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. James Investment Research Inc. bought a new position in shares of Noble Corp. during the second quarter valued at $124,000. First Manhattan Co. boosted its position in shares of Noble Corp. by 2.9% in the second quarter. First Manhattan Co. now owns 112,023 shares of the company’s stock valued at $923,000 after buying an additional 3,117 shares in the last quarter. Denali Advisors LLC bought a new position in shares of Noble Corp. during the second quarter valued at $299,000. Creative Planning boosted its position in shares of Noble Corp. by 19.4% in the second quarter. Creative Planning now owns 40,371 shares of the company’s stock valued at $333,000 after buying an additional 6,548 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Noble Corp. by 26.2% in the second quarter. BNP Paribas Arbitrage SA now owns 271,463 shares of the company’s stock valued at $2,237,000 after buying an additional 56,435 shares in the last quarter. 90.26% of the stock is owned by hedge funds and other institutional investors.
Shares of Noble Corp. (NYSE:NE) traded up 5.00% during mid-day trading on Thursday, hitting $5.67. The stock had a trading volume of 9,184,344 shares. The stock’s 50-day moving average price is $6.09 and its 200-day moving average price is $8.62. Noble Corp. has a 52-week low of $5.09 and a 52-week high of $14.64. The firm has a market cap of $1.38 billion, a PE ratio of 2.36 and a beta of 2.05.
Noble Corp. (NYSE:NE) last posted its earnings results on Wednesday, July 27th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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. Noble Corp. had a return on equity of 5.22% and a net margin of 18.34%. The firm’s revenue for the quarter was down 37.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. On average, analysts anticipate that Noble Corp. will post ($0.07) earnings per share for the current fiscal year.
A number of equities analysts have recently commented on the company. Vetr raised Noble Corp. from a “hold” rating to a “buy” rating and set a $9.76 price target for the company in a report on Monday, June 13th. Zacks Investment Research cut Noble Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Evercore ISI reissued a “buy” rating on shares of Noble Corp. in a report on Saturday, July 2nd. Jefferies Group reissued a “hold” rating on shares of Noble Corp. in a report on Sunday, July 10th. Finally, Argus cut Noble Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, August 10th. Seven investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $8.85.
About Noble Corp.
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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