Noble Corp. (NE) Trading Down 3.8%
Noble Corp. (NYSE:NE) shares fell 3.8% during trading on Friday . The stock traded as low as $7.55 and last traded at $7.62, with a volume of 4,943,761 shares traded. The stock had previously closed at $7.92.
Several research firms have issued reports on NE. Clarkson Capital reaffirmed a “buy” rating on shares of Noble Corp. in a report on Monday, April 11th. Barclays PLC reduced their price objective on Noble Corp. from $7.00 to $6.00 and set an “underweight” rating on the stock in a report on Monday, March 28th. TheStreet raised Noble Corp. from a “sell” rating to a “hold” rating in a report on Thursday, April 14th. Zephirin Group reaffirmed a “hold” rating and set a $16.00 price objective (up previously from $11.00) on shares of Noble Corp. in a report on Thursday, May 5th. Finally, Jefferies Group upped their price objective on Noble Corp. from $7.00 to $9.00 and gave the stock a “hold” rating in a report on Monday, April 4th. Seven investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $9.77.
The stock has a market capitalization of $1.84 billion and a price-to-earnings ratio of 4.29. The stock’s 50 day moving average is $8.64 and its 200 day moving average is $9.21.
Noble Corp. (NYSE:NE) last announced its quarterly earnings data on Wednesday, April 27th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by $0.02. The firm had revenue of $612 million for the quarter, compared to analysts’ expectations of $632.03 million. The company’s revenue for the quarter was down 23.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. Analysts predict that Noble Corp. will post $0.20 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 8th. Stockholders of record on Monday, August 1st will be issued a dividend of $0.02 per share. The ex-dividend date is Thursday, July 28th. This represents a $0.08 annualized dividend and a dividend yield of 1.06%.
Several institutional investors recently made changes to their positions in NE. Russell Frank Co raised its position 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 valued at $9,154,000 after buying an additional 181,610 shares in the last quarter. Schroder Investment Management Group raised its position 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 valued at $4,681,000 after buying an additional 14,700 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its position 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 valued at $1,900,000 after buying an additional 12,055 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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