Noble Corp. (NE) Shares Up 7.5%
Noble Corp. (NYSE:NE) shot up 7.5% during mid-day trading on Monday . The stock traded as high as $6.92 and last traded at $6.89, with a volume of 5,167,419 shares. The stock had previously closed at $6.41.
Several research firms have issued reports on NE. Simmons reaffirmed an “underweight” rating and set a $4.70 price target (down from $6.00) on shares of Noble Corp. in a research note on Friday, May 13th. Jefferies Group decreased their target price on shares of Noble Corp. from $8.00 to $7.50 and set a “hold” rating on the stock in a research report on Friday, July 29th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Noble Corp. in a research report on Friday, May 20th. Zephirin Group reissued a “hold” rating and issued a $16.00 target price (up from $11.00) on shares of Noble Corp. in a research report on Thursday, May 5th. Finally, Bank of America Corp. raised shares of Noble Corp. from an “underperform” rating to a “neutral” rating and set a $7.50 target price on the stock in a research report on Tuesday. Eight investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $9.63.
The stock has a market capitalization of $1.61 billion and a P/E ratio of 2.75. The stock’s 50-day moving average is $7.68 and its 200 day moving average is $9.06.
Noble Corp. (NYSE:NE) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by $0.22. The firm earned $894.70 million during the quarter, compared to the consensus estimate of $527.48 million. The firm’s revenue was down 37.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 EPS. On average, analysts expect that Noble Corp. will post $0.01 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 8th. Stockholders of record on Monday, August 1st were issued a dividend of $0.02 per share. The ex-dividend date was Thursday, July 28th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.21%.
A hedge fund recently raised its stake in Noble Corp. stock. Schroder Investment Management Group raised its position in Noble Corp. (NYSE:NE) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 443,641 shares of the company’s stock after buying an additional 14,700 shares during the period. Schroder Investment Management Group owned about 0.18% of Noble Corp. worth $4,681,000 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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