Noble Corp. (NE) Trading 7.3% Higher
Noble Corp. (NYSE:NE) shares traded up 7.3% during trading on Tuesday . The company traded as high as $8.79 and last traded at $8.71, with a volume of 4,492,215 shares trading hands. The stock had previously closed at $8.12.
A number of research analysts have commented on the company. Jefferies Group restated a “hold” rating on shares of Noble Corp. in a research note on Sunday. Zacks Investment Research downgraded Noble Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Evercore ISI restated a “buy” rating on shares of Noble Corp. in a research note on Saturday, July 2nd. Vetr upgraded Noble Corp. from a “hold” rating to a “buy” rating and set a $9.76 target price on the stock in a research note on Monday, June 13th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Noble Corp. in a research report on Friday, May 20th. Eight equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $9.77.
The firm has a market capitalization of $2.10 billion and a price-to-earnings ratio of 4.92. The company has a 50-day moving average price of $8.68 and a 200-day moving average price of $9.31.
Noble Corp. (NYSE:NE) last posted its earnings results on Wednesday, April 27th. The company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.02. During the same quarter in the previous year, the company earned $0.72 EPS. The company had revenue of $612 million for the quarter, compared to the consensus estimate of $632.03 million. Noble Corp.’s revenue was down 23.9% compared to the same quarter last year. On average, equities analysts forecast that Noble Corp. will post $0.36 EPS for the current fiscal year.
Several large investors have bought and sold shares of NE. BNP Paribas Arbitrage SA raised its stake in Noble Corp. by 7.2% in the fourth quarter. BNP Paribas Arbitrage SA now owns 180,089 shares of the company’s stock worth $1,900,000 after buying an additional 12,055 shares in the last quarter. Schroder Investment Management Group raised its stake in Noble Corp. by 3.4% in the fourth quarter. Schroder Investment Management Group now owns 443,641 shares of the company’s stock worth $4,681,000 after buying an additional 14,700 shares in the last quarter. Nationwide Fund Advisors raised its stake in Noble Corp. by 6.1% in the fourth quarter. Nationwide Fund Advisors now owns 534,547 shares of the company’s stock worth $5,639,000 after buying an additional 30,814 shares in the last quarter. Finally, Russell Frank Co raised its stake in Noble Corp. by 26.7% in the fourth quarter. Russell Frank Co now owns 861,001 shares of the company’s stock worth $9,154,000 after buying an additional 181,610 shares in the last quarter.
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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