Argus upgraded shares of Noble (NYSE:NE) from a hold rating to a buy rating in a report released on Tuesday morning.

A number of other equities research analysts have also recently issued reports on the stock. Piper Jaffray Companies set a $3.00 target price on shares of Noble and gave the company a sell rating in a research report on Monday, February 26th. Seaport Global Securities set a $4.00 price objective on shares of Noble and gave the stock a hold rating in a research report on Monday, February 26th. Jefferies Group set a $5.00 price objective on shares of Noble and gave the stock a buy rating in a research report on Friday, February 23rd. Susquehanna Bancshares set a $5.00 price objective on shares of Noble and gave the stock a hold rating in a research report on Friday, February 16th. Finally, Zacks Investment Research cut shares of Noble from a hold rating to a sell rating in a research report on Monday, February 5th. Seven equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $4.95.

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Noble (NYSE NE) opened at $4.24 on Tuesday. Noble has a fifty-two week low of $3.14 and a fifty-two week high of $6.46. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.75 and a current ratio of 1.75.

Noble (NYSE:NE) last announced its earnings results on Wednesday, February 21st. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.04. The company had revenue of $329.59 million during the quarter, compared to analysts’ expectations of $285.67 million. Noble had a negative net margin of 41.76% and a negative return on equity of 4.61%. Noble’s quarterly revenue was down 19.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.15) earnings per share. analysts forecast that Noble will post -1.82 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new position in shares of Noble in the third quarter valued at approximately $102,000. Everence Capital Management Inc. acquired a new stake in Noble during the 4th quarter valued at approximately $127,000. Investors Research Corp acquired a new stake in Noble during the 4th quarter valued at approximately $138,000. OxFORD Asset Management LLP acquired a new stake in Noble during the 3rd quarter valued at approximately $219,000. Finally, LMR Partners LLP acquired a new stake in Noble during the 3rd quarter valued at approximately $268,000. 87.75% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Noble (NYSE:NE)

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