Noble Corporation (NYSE:NE) shares rose 5.5% on Tuesday . The stock traded as high as $3.72 and last traded at $3.66. Approximately 6,429,033 shares changed hands during trading, a decline of 27% from the average daily volume of 8,764,270 shares. The stock had previously closed at $3.47.

NE has been the topic of several recent analyst reports. Jefferies Group LLC set a $7.00 target price on Noble Corporation and gave the stock a “buy” rating in a report on Wednesday, May 24th. Argus reiterated a “sell” rating and set a $6.00 target price on shares of Noble Corporation in a report on Friday, August 18th. Seaport Global Securities reiterated a “neutral” rating on shares of Noble Corporation in a report on Monday, August 7th. ValuEngine upgraded Noble Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $5.00 target price on shares of Noble Corporation in a report on Friday, September 1st. Seven analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $5.96.

The firm has a 50-day moving average price of $3.54 and a 200 day moving average price of $4.53. The firm’s market cap is $950.22 million.

Noble Corporation (NYSE:NE) last announced its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.31) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.02. Noble Corporation had a negative net margin of 122.04% and a negative return on equity of 3.19%. The business had revenue of $278.10 million for the quarter, compared to analysts’ expectations of $284.99 million. During the same quarter last year, the firm earned $0.01 EPS. The firm’s revenue for the quarter was down 68.9% compared to the same quarter last year. On average, analysts forecast that Noble Corporation will post ($1.25) EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Chicago Equity Partners LLC lifted its position in Noble Corporation by 50.7% in the 1st quarter. Chicago Equity Partners LLC now owns 16,650 shares of the oil and gas company’s stock valued at $103,000 after acquiring an additional 5,600 shares in the last quarter. Teacher Retirement System of Texas lifted its position in Noble Corporation by 16.8% in the 1st quarter. Teacher Retirement System of Texas now owns 19,601 shares of the oil and gas company’s stock valued at $121,000 after acquiring an additional 2,816 shares in the last quarter. Tiedemann Wealth Management LLC lifted its position in Noble Corporation by 41.6% in the 1st quarter. Tiedemann Wealth Management LLC now owns 20,730 shares of the oil and gas company’s stock valued at $128,000 after acquiring an additional 6,086 shares in the last quarter. World Asset Management Inc lifted its position in Noble Corporation by 1.4% in the 1st quarter. World Asset Management Inc now owns 21,981 shares of the oil and gas company’s stock valued at $136,000 after acquiring an additional 295 shares in the last quarter. Finally, HighTower Advisors LLC bought a new position in Noble Corporation in the 1st quarter valued at about $139,000. 95.64% of the stock is currently owned by institutional investors and hedge funds.

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Noble Corporation Company Profile

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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