Noble Co. (NYSE:NE) dropped 0% during mid-day trading on Tuesday . The company traded as low as $5.32 and last traded at $5.38. Approximately 12,182,172 shares were traded during trading, an increase of 52% from the average daily volume of 7,990,000 shares. The stock had previously closed at $5.38.

NE has been the topic of a number of recent analyst reports. Piper Jaffray Companies restated a “hold” rating and set a $2.85 price target on shares of Noble in a report on Sunday, October 22nd. Royal Bank of Canada set a $5.00 price objective on shares of Noble and gave the company a “hold” rating in a research note on Thursday, December 21st. 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 objective on the stock. ValuEngine lowered shares of Noble from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st. Finally, Cowen set a $3.00 price objective on shares of Noble and gave the company a “hold” rating in a research note on Wednesday, October 18th. Eight analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $5.41.

The stock has a market cap of $1,410.00, a P/E ratio of -0.74 and a beta of 2.34. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.58 and a quick ratio of 1.58.

Noble (NYSE:NE) last announced its quarterly earnings results 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). The company had revenue of $266.20 million for the quarter, compared to analyst estimates of $269.61 million. Noble had a negative net margin of 136.22% and a negative return on equity of 3.94%. Noble’s quarterly revenue was down 30.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.23) EPS. equities research analysts expect that Noble Co. will post -1.18 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of NE. BlackRock Inc. boosted its holdings in shares of Noble by 37.6% during the 2nd quarter. BlackRock Inc. now owns 32,390,455 shares of the oil and gas company’s stock worth $117,253,000 after buying an additional 8,843,373 shares during the period. State Street Corp boosted its holdings in Noble 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 purchasing an additional 5,405,697 shares during the period. Vanguard Group Inc. boosted its holdings in Noble by 16.7% in the 2nd quarter. Vanguard Group Inc. now owns 23,523,527 shares of the oil and gas company’s stock valued at $85,155,000 after purchasing an additional 3,371,015 shares during the period. SG Capital Management LLC bought a new stake in Noble in the 3rd quarter valued at $9,696,000. Finally, Contrarius Investment Management Ltd boosted its holdings in Noble by 21.7% in the 3rd quarter. Contrarius Investment Management Ltd now owns 6,631,412 shares of the oil and gas company’s stock valued at $30,504,000 after purchasing an additional 1,184,494 shares during the period. 86.98% of the stock is owned by institutional investors and hedge funds.

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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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