Noble (NYSE:NE) was downgraded by equities researchers at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Friday.

Several other research analysts have also recently commented on the stock. Royal Bank Of Canada set a $5.00 target price on shares of Noble and gave the stock a “hold” rating in a report on Sunday, November 12th. Piper Jaffray Companies reiterated a “hold” rating and issued a $2.85 target price on shares of Noble in a report on Sunday, October 22nd. Deutsche Bank started coverage on shares of Noble in a report on Tuesday, October 10th. They issued a “hold” rating and a $4.00 target price for the company. started coverage on shares of Noble in a report on Thursday, October 19th. They issued a “buy” rating and a $5.30 target price for the company. Finally, Cowen reiterated a “hold” rating and issued a $3.00 target price on shares of Noble in a report on Tuesday, September 5th. Six research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $5.56.

Noble (NE) opened at $4.46 on Friday. Noble has a fifty-two week low of $3.14 and a fifty-two week high of $8.37. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.64.

Noble (NYSE:NE) last announced its earnings results on Thursday, November 2nd. The oil and gas company reported ($0.36) EPS for the quarter, hitting the consensus estimate of ($0.36). Noble had a negative net margin of 136.22% and a negative return on equity of 3.94%. The company had revenue of $266.20 million during the quarter, compared to analysts’ expectations of $269.61 million. During the same period last year, the company posted ($0.23) earnings per share. The business’s revenue for the quarter was down 30.9% on a year-over-year basis. sell-side analysts expect that Noble will post -1.17 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the stock. Texas Permanent School Fund boosted its holdings in shares of Noble by 0.8% during the second quarter. Texas Permanent School Fund now owns 178,646 shares of the oil and gas company’s stock worth $647,000 after purchasing an additional 1,498 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of Noble by 1.8% during the second quarter. Oregon Public Employees Retirement Fund now owns 86,884 shares of the oil and gas company’s stock worth $315,000 after purchasing an additional 1,500 shares during the period. Capstone Asset Management Co. boosted its holdings in shares of Noble by 6.9% during the second quarter. Capstone Asset Management Co. now owns 61,720 shares of the oil and gas company’s stock worth $223,000 after purchasing an additional 3,960 shares during the period. ProShare Advisors LLC raised its position in Noble by 9.1% during the second quarter. ProShare Advisors LLC now owns 48,685 shares of the oil and gas company’s stock valued at $176,000 after acquiring an additional 4,047 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in Noble by 0.8% during the second quarter. California Public Employees Retirement System now owns 1,470,919 shares of the oil and gas company’s stock valued at $5,325,000 after acquiring an additional 11,000 shares in the last quarter. Institutional investors and hedge funds own 87.29% of the company’s stock.

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About Noble

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.

Analyst Recommendations for Noble (NYSE:NE)

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