Noble Corporation (NYSE:NE) was downgraded by TheStreet from a “c-” rating to a “d” rating in a research note issued to investors on Tuesday.

Several other equities analysts also recently issued reports on the company. Zacks Investment Research upgraded Noble Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, October 27th. Bank of America Corporation downgraded Noble Corporation from a “neutral” rating to an “underperform” rating and set a $5.00 price objective for the company. in a research report on Wednesday, November 16th. They noted that the move was a valuation call. Capital One Financial Corporation upgraded Noble Corporation from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 17th. Goldman Sachs Group, Inc. (The) downgraded Noble Corporation from a “neutral” rating to a “sell” rating and set a $4.00 price objective for the company. in a research report on Friday, December 16th. Finally, Jefferies Group LLC upgraded Noble Corporation from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research report on Monday, January 30th. They noted that the move was a valuation call. Nine investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $7.93.

Analyst Recommendations for Noble Corporation (NYSE:NE)

Shares of Noble Corporation (NYSE:NE) traded down 3.556% during midday trading on Tuesday, hitting $6.915. The stock had a trading volume of 11,200,791 shares. The firm’s market cap is $1.68 billion. Noble Corporation has a 12-month low of $4.45 and a 12-month high of $13.90. The company’s 50-day moving average price is $7.06 and its 200-day moving average price is $6.25.

Noble Corporation (NYSE:NE) last issued its quarterly earnings data on Thursday, February 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.07. The business had revenue of $410 million for the quarter, compared to analyst estimates of $399.02 million. The business’s quarterly revenue was down 52.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Equities research analysts forecast that Noble Corporation will post ($1.32) EPS for the current year.

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A number of hedge funds have recently made changes to their positions in the stock. State Street Corp increased its stake in shares of Noble Corporation by 57.2% in the fourth quarter. State Street Corp now owns 13,735,183 shares of the company’s stock valued at $81,317,000 after buying an additional 4,997,584 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Noble Corporation by 22.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 13,110,441 shares of the company’s stock valued at $77,616,000 after buying an additional 2,434,327 shares during the period. First Trust Advisors LP increased its stake in shares of Noble Corporation by 54.3% in the third quarter. First Trust Advisors LP now owns 6,003,620 shares of the company’s stock valued at $38,063,000 after buying an additional 2,113,986 shares during the period. Marshall Wace LLP increased its stake in shares of Noble Corporation by 50.6% in the fourth quarter. Marshall Wace LLP now owns 5,033,194 shares of the company’s stock valued at $29,796,000 after buying an additional 1,690,357 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Noble Corporation by 941.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,624,099 shares of the company’s stock valued at $9,615,000 after buying an additional 1,468,099 shares during the period. 91.66% of the stock is currently owned by institutional investors.

Noble Corporation 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.

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