Noble Corporation (NYSE:NE) shares gapped down before the market opened on Thursday . The stock had previously closed at $4.40, but opened at $4.25. Noble Corporation shares last traded at $4.17, with a volume of 9148100 shares.

NE has been the subject of several analyst reports. UBS AG upgraded shares of Noble Corporation from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $4.00 to $6.00 in a report on Monday, September 25th. Zacks Investment Research upgraded shares of Noble Corporation from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a report on Wednesday, October 18th. initiated coverage on shares of Noble Corporation in a report on Thursday, October 19th. They set a “buy” rating and a $5.30 price target for the company. Cowen and Company reiterated a “hold” rating and set a $3.00 price target on shares of Noble Corporation in a report on Tuesday, September 5th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $5.00 price target on shares of Noble Corporation in a report on Friday, September 1st. Six analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $5.56.

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 (NYSE:NE) last announced its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported ($0.36) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.36). The company had revenue of $266.20 million during the quarter, compared to the consensus estimate of $269.61 million. Noble Corporation had a negative net margin of 136.22% and a negative return on equity of 3.94%. Noble Corporation’s quarterly revenue was down 30.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.23) EPS. sell-side analysts predict that Noble Corporation will post -1.17 EPS for the current year.

A number of institutional investors have recently made changes to their positions in NE. FMR LLC raised its position in Noble Corporation by 197.4% during the 1st quarter. FMR LLC now owns 984,300 shares of the oil and gas company’s stock worth $6,093,000 after buying an additional 653,300 shares during the last quarter. Teachers Advisors LLC raised its position in Noble Corporation by 8.9% during the 1st quarter. Teachers Advisors LLC now owns 281,419 shares of the oil and gas company’s stock worth $1,742,000 after buying an additional 23,067 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Noble Corporation by 1.6% during the 1st quarter. TIAA CREF Investment Management LLC now owns 745,736 shares of the oil and gas company’s stock worth $4,616,000 after buying an additional 11,547 shares during the last quarter. Vanguard Group Inc. raised its position in Noble Corporation by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 20,152,512 shares of the oil and gas company’s stock worth $124,744,000 after buying an additional 188,754 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Noble Corporation by 5.4% during the 1st quarter. Geode Capital Management LLC now owns 1,885,668 shares of the oil and gas company’s stock worth $11,672,000 after buying an additional 96,028 shares during the last quarter. 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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