Noble Corp. (NE) Shares Up 5%
Noble Corp. (NYSE:NE)’s share price shot up 5% during trading on Wednesday . The company traded as high as $7.23 and last traded at $7.20, with a volume of 5,386,876 shares. The stock had previously closed at $6.86.
A number of brokerages have recently commented on NE. Zephirin Group reiterated a “hold” rating and set a $16.00 price target (up previously from $11.00) on shares of Noble Corp. in a report on Thursday, May 5th. Jefferies Group reiterated a “hold” rating on shares of Noble Corp. in a report on Sunday, July 10th. Barclays PLC reiterated an “underweight” rating and set a $6.00 price target on shares of Noble Corp. in a report on Monday, April 18th. TheStreet upgraded shares of Noble Corp. from a “sell” rating to a “hold” rating in a report on Thursday, April 14th. Finally, Societe Generale lowered shares of Noble Corp. from a “buy” rating to a “hold” rating and lifted their price target for the stock from $9.56 to $11.00 in a report on Monday, April 11th. Seven analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the stock. Noble Corp. currently has a consensus rating of “Hold” and an average target price of $9.71.
The company’s 50 day moving average price is $8.17 and its 200 day moving average price is $9.08. The firm has a market cap of $1.69 billion and a P/E ratio of 2.896.
Noble Corp. (NYSE:NE) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by $0.22. During the same period in the prior year, the business posted $0.64 earnings per share. The company had revenue of $894.70 million for the quarter, compared to the consensus estimate of $527.48 million. Noble Corp.’s revenue for the quarter was down 37.2% compared to the same quarter last year. On average, equities analysts predict that Noble Corp. will post $0.14 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 8th. Investors of record on Monday, August 1st will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $0.08 dividend on an annualized basis and a yield of 1.12%.
An institutional investor recently raised its position in Noble Corp. stock. BNP Paribas Arbitrage SA increased its position in Noble Corp. (NYSE:NE) by 7.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,089 shares of the company’s stock after buying an additional 12,055 shares during the period. BNP Paribas Arbitrage SA owned about 0.07% of Noble Corp. worth $1,900,000 at the end of the most recent reporting period.
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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