An issue of Noble Corporation (NYSE:NE) bonds rose 1.1% against their face value during trading on Friday. The debt issue has a 6.05% coupon and is set to mature on March 1, 2041. The bonds in the issue are now trading at $68.63 and were trading at $67.00 one week ago. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its share price.

A number of brokerages recently weighed in on NE. Royal Bank of Canada set a $5.00 price target on shares of Noble and gave the company a “hold” rating in a research note on Sunday, November 12th. ValuEngine lowered shares of Noble from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. UBS raised shares of Noble from a “neutral” rating to a “buy” rating and raised their price target for the company from $4.00 to $6.00 in a research note on Monday, September 25th. Zacks Investment Research raised shares of Noble from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research note on Wednesday, October 18th. Finally, Deutsche Bank began coverage on shares of Noble in a research note on Tuesday, October 10th. They issued a “hold” rating and a $4.00 price target on the stock. Six analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $5.56.

Shares of Noble Corporation (NYSE:NE) opened at $3.73 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 1-year low of $3.14 and a 1-year high of $7.80.

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

Several hedge funds and other institutional investors have recently made changes to their positions in NE. Teachers Advisors LLC increased its holdings in shares of Noble 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. Capstone Asset Management Co. increased its holdings in shares of Noble by 6.9% during the 2nd quarter. Capstone Asset Management Co. now owns 61,720 shares of the oil and gas company’s stock worth $223,000 after buying an additional 3,960 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Noble by 109.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 31,400 shares of the oil and gas company’s stock worth $125,000 after buying an additional 16,400 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of Noble by 85.7% during the 2nd quarter. Great West Life Assurance Co. Can now owns 388,139 shares of the oil and gas company’s stock worth $1,401,000 after buying an additional 179,142 shares during the last quarter. Finally, Texas Permanent School Fund increased its holdings in shares of Noble by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 178,646 shares of the oil and gas company’s stock worth $647,000 after buying an additional 1,498 shares during the last quarter. Institutional investors and hedge funds own 87.10% of the company’s stock.

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Noble 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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