Noble Co. PLC (NYSE:NE) was down 6.7% during trading on Tuesday . The company traded as low as $4.01 and last traded at $4.16. Approximately 7,876,426 shares were traded during mid-day trading, an increase of 34% from the average daily volume of 5,866,255 shares. The stock had previously closed at $4.46.

NE has been the subject of several research analyst reports. Tudor Pickering upgraded shares of Noble from a “hold” rating to a “buy” rating in a report on Friday, November 2nd. Seaport Global Securities set a $5.00 price target on shares of Noble and gave the stock a “hold” rating in a research note on Monday, August 6th. Simmons upgraded shares of Noble from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $3.25 to $6.00 in a research note on Monday, October 1st. Cowen initiated coverage on shares of Noble in a research note on Saturday, October 13th. They set a “hold” rating and a $6.00 price target for the company. Finally, Morgan Stanley initiated coverage on shares of Noble in a research note on Tuesday, September 18th. They set an “underweight” rating and a $6.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $6.24.

The stock has a market capitalization of $1.10 billion, a P/E ratio of -3.75 and a beta of 2.45. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.09 and a current ratio of 2.09.

Noble (NYSE:NE) last announced its quarterly earnings data on Wednesday, October 31st. The oil and gas company reported ($0.43) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.45) by $0.02. The company had revenue of $279.41 million during the quarter, compared to the consensus estimate of $263.19 million. Noble had a negative net margin of 79.51% and a negative return on equity of 8.26%. Noble’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.36) EPS. On average, analysts forecast that Noble Co. PLC will post -1.84 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in NE. WealthTrust Axiom LLC boosted its stake in shares of Noble by 7.4% during the 3rd quarter. WealthTrust Axiom LLC now owns 151,558 shares of the oil and gas company’s stock worth $1,065,000 after purchasing an additional 10,500 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Noble by 2.0% in the second quarter. Rhumbline Advisers now owns 593,284 shares of the oil and gas company’s stock worth $3,755,000 after acquiring an additional 11,379 shares during the last quarter. Aperio Group LLC boosted its position in shares of Noble by 9.6% in the third quarter. Aperio Group LLC now owns 156,697 shares of the oil and gas company’s stock worth $1,102,000 after acquiring an additional 13,757 shares during the last quarter. Welch & Forbes LLC acquired a new stake in shares of Noble in the third quarter worth approximately $115,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Noble by 127.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,703 shares of the oil and gas company’s stock worth $216,000 after acquiring an additional 17,214 shares during the last quarter. Institutional investors own 86.62% of the company’s stock.

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Noble Company Profile (NYSE:NE)

Noble Corporation plc operates as an offshore drilling contractor for the oil and gas industry worldwide. It provides contract drilling services using mobile offshore drilling units. As of December 31, 2017, the company operated a fleet of 8 drill ships, 6 semisubmersibles, and 14 jack ups. Noble Corporation plc was founded in 1921 and is headquartered in London, the United Kingdom.

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