Noble Corp. (NE) Stock Price Down 4.5%
Noble Corp. (NYSE:NE) shares traded down 4.5% during mid-day trading on Wednesday . The stock traded as low as $8.13 and last traded at $8.26, with a volume of 6,578,714 shares. The stock had previously closed at $8.65.
Several research analysts recently issued reports on the company. Jefferies Group reissued a “hold” rating on shares of Noble Corp. in a research note on Sunday. Zacks Investment Research lowered Noble Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Evercore ISI restated a “buy” rating on shares of Noble Corp. in a report on Saturday, July 2nd. Vetr upgraded Noble Corp. from a “hold” rating to a “buy” rating and set a $9.76 target price for the company in a report on Monday, June 13th. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of Noble Corp. in a report on Friday, May 20th. Eight analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $9.77.
The firm’s 50-day moving average price is $8.69 and its 200 day moving average price is $9.30. The company has a market cap of $2.01 billion and a PE ratio of 4.69.
Noble Corp. (NYSE:NE) last announced its quarterly earnings results on Wednesday, April 27th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $612 million for the quarter, compared to analysts’ expectations of $632.03 million. Noble Corp.’s revenue was down 23.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 earnings per share. On average, equities research analysts anticipate that Noble Corp. will post $0.32 earnings per share for the current fiscal year.
Other large investors have made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its stake in shares of 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 during the last quarter. Schroder Investment Management Group boosted its stake in shares of 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 during the last quarter. Nationwide Fund Advisors boosted its stake in shares of 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 during the last quarter. Finally, Russell Frank Co boosted its stake in shares of 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 during 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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