Noble Corp. (NE) Upgraded at Vetr Inc.
Vetr upgraded shares of Noble Corp. (NYSE:NE) from a buy rating to a strong-buy rating in a research report released on Monday morning. The firm currently has $6.92 target price on the stock.
A number of other research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Noble Corp. from a hold rating to a sell rating in a research note on Monday. Societe Generale downgraded shares of Noble Corp. from a buy rating to a hold rating and decreased their price target for the stock from $10.00 to $7.00 in a research note on Monday. Jefferies Group decreased their price target on shares of Noble Corp. from $7.50 to $6.00 and set a hold rating for the company in a research note on Wednesday, September 28th. Evercore ISI reiterated a buy rating on shares of Noble Corp. in a research note on Thursday, September 22nd. Finally, Goldman Sachs Group Inc. upgraded shares of Noble Corp. from a sell rating to a neutral rating and set a $4.00 price target for the company in a research note on Wednesday, September 21st. Eight investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Noble Corp. presently has an average rating of Hold and a consensus target price of $8.65.
Shares of Noble Corp. (NYSE:NE) opened at 6.13 on Monday. Noble Corp. has a 1-year low of $5.09 and a 1-year high of $14.64. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 2.55 and a beta of 2.09. The stock has a 50 day moving average of $5.84 and a 200-day moving average of $8.23.
Noble Corp. (NYSE:NE) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.22. Noble Corp. had a net margin of 18.34% and a return on equity of 5.22%. The business earned $894.70 million during the quarter, compared to analysts’ expectations of $527.48 million. During the same period in the previous year, the business posted $0.64 EPS. The company’s revenue for the quarter was down 37.2% compared to the same quarter last year. Equities analysts anticipate that Noble Corp. will post ($0.06) EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA increased its position in Noble Corp. by 271.5% in the first quarter. Glenmede Trust Co. NA now owns 179,212 shares of the company’s stock worth $1,853,000 after buying an additional 130,972 shares in the last quarter. Aperio Group LLC increased its position in Noble Corp. by 19.8% in the first quarter. Aperio Group LLC now owns 235,565 shares of the company’s stock worth $2,438,000 after buying an additional 39,013 shares in the last quarter. IFP Advisors Inc increased its position in Noble Corp. by 5.4% in the first quarter. IFP Advisors Inc now owns 10,692 shares of the company’s stock worth $111,000 after buying an additional 550 shares in the last quarter. Acrospire Investment Management LLC bought a new position in Noble Corp. during the first quarter worth approximately $217,000. Finally, Citizens Financial Group Inc RI increased its position in Noble Corp. by 2.6% in the first quarter. Citizens Financial Group Inc RI now owns 250,800 shares of the company’s stock worth $2,596,000 after buying an additional 6,272 shares in the last quarter. Institutional investors own 90.26% of the company’s stock.
Noble Corp. Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
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