Noble Corporation (NE) PT Set at $5.00 by Royal Bank Of Canada
Noble Corporation (NYSE:NE) has been assigned a $5.00 price target by investment analysts at Royal Bank Of Canada in a research report issued to clients and investors on Sunday. The brokerage presently has a “hold” rating on the oil and gas company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 14.16% from the company’s current price.
Several other research firms have also commented on NE. Zacks Investment Research lowered Noble Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Piper Jaffray Companies restated a “hold” rating and issued a $2.85 price objective on shares of Noble Corporation in a research report on Sunday, October 22nd. Jefferies Group LLC restated a “buy” rating and issued a $5.50 price objective (down previously from $7.00) on shares of Noble Corporation in a research report on Tuesday, July 18th. Argus restated a “sell” rating and issued a $6.00 price objective on shares of Noble Corporation in a research report on Friday, August 18th. Finally, Seaport Global Securities restated a “neutral” rating on shares of Noble Corporation in a research report on Monday, August 7th. Six investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $5.56.
Shares of Noble Corporation (NE) opened at $4.38 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.64. Noble Corporation has a 52-week low of $3.14 and a 52-week high of $8.37.
Noble Corporation (NYSE:NE) last released its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported ($0.36) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.36). Noble Corporation had a negative return on equity of 3.94% and a negative net margin of 136.22%. The business had revenue of $266.20 million for the quarter, compared to analyst estimates of $269.61 million. During the same quarter in the prior year, the firm posted ($0.23) EPS. The business’s quarterly revenue was down 30.9% compared to the same quarter last year. analysts predict that Noble Corporation will post -1.17 EPS for the current year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH purchased a new position in shares of Noble Corporation during the 3rd quarter worth $4,001,000. California State Teachers Retirement System grew its holdings in shares of Noble Corporation by 2.8% during the 3rd quarter. California State Teachers Retirement System now owns 444,840 shares of the oil and gas company’s stock worth $2,046,000 after purchasing an additional 12,067 shares during the period. Pinebridge Investments L.P. grew its holdings in shares of Noble Corporation by 679.0% during the 3rd quarter. Pinebridge Investments L.P. now owns 251,146 shares of the oil and gas company’s stock worth $1,156,000 after purchasing an additional 218,908 shares during the period. OxFORD Asset Management LLP purchased a new position in shares of Noble Corporation during the 3rd quarter worth $219,000. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Noble Corporation by 22.9% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 2,058,497 shares of the oil and gas company’s stock worth $9,470,000 after purchasing an additional 383,935 shares during the period. Institutional investors and hedge funds own 94.07% of the company’s stock.
About Noble Corporation
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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