An issue of Noble Corporation (NYSE:NE) debt fell 2% as a percentage of its face value during trading on Tuesday. The debt issue has a 7.75% coupon and is set to mature on January 15, 2024. The debt is now trading at $86.50 and was trading at $90.75 last week. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.

NE has been the topic of several analyst reports. Zacks Investment Research cut shares of Noble Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $2.85 target price on shares of Noble Corporation in a report on Sunday, October 22nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $5.50 target price (down previously from $7.00) on shares of Noble Corporation in a report on Tuesday, July 18th. Argus reaffirmed a “sell” rating and issued a $6.00 target price on shares of Noble Corporation in a report on Friday, August 18th. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of Noble Corporation in a report on Monday, August 7th. Six analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $5.56.

Noble Corporation (NYSE:NE) opened at $4.25 on Wednesday. Noble Corporation has a 1-year low of $3.14 and a 1-year high of $8.37. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.58 and a current ratio of 1.58.

Noble Corporation (NYSE:NE) last posted its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.36). Noble Corporation had a negative net margin of 136.22% and a negative return on equity of 3.94%. The firm had revenue of $266.20 million for the quarter, compared to analyst estimates of $269.61 million. During the same period last year, the firm posted ($0.23) EPS. Noble Corporation’s quarterly revenue was down 30.9% on a year-over-year basis. equities analysts forecast that Noble Corporation will post -1.17 EPS for the current year.

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Noble Corporation by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 20,152,512 shares of the oil and gas company’s stock valued at $124,744,000 after buying an additional 188,754 shares during the last quarter. Credit Suisse AG grew its position in Noble Corporation by 326.2% in the 1st quarter. Credit Suisse AG now owns 915,197 shares of the oil and gas company’s stock valued at $5,666,000 after buying an additional 700,438 shares during the last quarter. SG Americas Securities LLC grew its position in Noble Corporation by 112.0% in the 2nd quarter. SG Americas Securities LLC now owns 330,546 shares of the oil and gas company’s stock valued at $1,197,000 after buying an additional 174,656 shares during the last quarter. River & Mercantile Asset Management LLP grew its position in Noble Corporation by 15.0% in the 2nd quarter. River & Mercantile Asset Management LLP now owns 1,132,617 shares of the oil and gas company’s stock valued at $4,094,000 after buying an additional 147,797 shares during the last quarter. Finally, State Street Corp grew its position in Noble Corporation by 31.7% in the 2nd quarter. State Street Corp now owns 22,444,196 shares of the oil and gas company’s stock valued at $81,248,000 after buying an additional 5,405,697 shares during the last quarter. Hedge funds and other institutional investors own 94.07% of the company’s stock.

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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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